Coinhako Earn. HODL!

With multiple platforms such as Gemini, Kucoin, Binance (now banned in Singapore) etc. all having platforms for you to earn Crypto or stake your coins by holding them, Coinhako has finally joined the game.

Does that mean that they took their time and gave us something better than everyone else? Let's find out!

UPDATE : Tezos (XTZ) is also not supported on Coinhako Earn!

What is "Earn"?

Earn is basically an exchange giving their users interest on their coins by holding it in their account. Treat it like a bank savings account, at the end of every month, interest is credited into your account.

So, for those that aren't into trading and just simply want to buy and hold, this might be the thing for you!

How does it work?

Similarly to a bank, Coinhako will lend your coins out to institutions and they are charged a fee. And Coinhako will then pay you a portion of that fee as interest! Simple as that! The interest is then paid out at the end of the duration.

How do I start?

Firstly, you would need to have a Coinhako account. If you don't have one, then sign up to Coinhako here! After signing up and verifying your account, you would then need to buy your coins, the 4 coins that are currently supported are BTC, ETH, ZIL and DOT! With more coins coming soon of course. Click on the "Earn" tab at the bottom and then you would see a page like this

The interest rates are shown on the top right of each coin, you can see that ZIL was sold out at the time of writing so do act fast as this is on a first come, first serve basis! After buying your coins, it is pretty simple as all you need to do now is just click on the coin you want to "Earn" and subscribe to it!

You can see that the redemption date can be chosen, the date ranges are 7 or 28 days with the longer timeframe giving higher yields!

After clicking submit, your coins will be locked up until the redemption date!

And voila, you're good to go!

Rates Comparison

Is Coinhako giving the best rates out there? Well, not the best, but not the worst as well, Gemini Earn is giving a measly 1.49% on Bitcoin as compared to Coinhako which is giving 3%!

However, places like Celsius, Nexo and Hodlnaut are giving rates that put Coinhakos' to shame. This being said, Coinhako allows you to buy your coins using SGD immediately and gives you a platform to earn all without sending your coins all over the place which is great for many who want an all-in-one platform!

If this is for you, sign up to Coinhako with my referral link here and you'll get discounted trading fees!!