OKX Introduces Simple Earn Fixed Product for Crypto Users

OKX Introduces Simple Earn Fixed Product for Crypto Users

OKX has announced the launch of its new Simple Earn Fixed product, available to all users starting May 30, 2024. The product currently supports leading cryptocurrencies including USDT, USDC, BTC, and ETH, according to OKX.

About Simple Earn Fixed

Simple Earn Fixed is a lending product that allows users to earn interest at a fixed rate over a fixed term. Once a user’s lending order is matched with a borrowing demand, interest accrues hourly. The total interest is paid out at the end of the term, providing a predictable income stream for crypto holders.

How to Use Simple Earn Fixed

To create a Simple Earn Fixed order, users can follow these steps:

  • Navigate to the ‘Grow’ section and select ‘Simple Earn’.
  • Find a Simple Earn product with a fixed term, such as 30 days.
  • Enter the desired lending amount and preferred annual percentage rate (APR), then proceed to continue.
  • Optional: Enable auto-renewal to automatically renew and queue for a new term when the current term ends.
  • Once matched with a borrowing demand, the order will be locked for the fixed term.

Market Context

The introduction of Simple Earn Fixed comes at a time when the demand for reliable crypto investment products is growing. With volatile markets, products offering stable returns are increasingly attractive to both new and seasoned investors. By supporting major stablecoins and popular cryptocurrencies, OKX aims to cater to a broad user base seeking dependable income from their digital assets.

OKX continues to expand its offerings to meet the evolving needs of the crypto community. The Simple Earn Fixed product is another step in providing users with diversified and reliable financial tools.

For more information, visit the official OKX support page.

Image source: Shutterstock

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