In the crypto world, the traditional banking system is primarily seen as a relic of the past, which used to limit our attempts to build a new world. No doubt about that, but this time-tested framework has brought people many reasonable solutions at the time. So taking the financial industry’s best practices and redesigning them for the new era of digital money may be worth a try.
A deposit system is one of these worth-of-reinventing solutions. The idea of lending money to some entity at an interest rate is alluring — you do nothing while your money is working for you. So why give up on it?
What Is HEXN.IO?
HEXN.IO is a crypto lending platform that unites habitual and advanced approaches to money lending to help people make their crypto work. The company offers a wide selection of 48 cryptocurrencies, high interest rates (up to 22% APY at the moment), and regular weekly payouts.
At HEXN, we aim to bridge the complexity of trading strategies and the simplicity of earning on digital assets for end customers, making the crypto world closer to people than ever.
Increased Rates
Right now, the most profitable coins on the platform now are such major cryptocurrencies as $BTC, $ETH, $SOL, and a whole range of stablecoins: $USDT, $USDC, $DAI, $BUSD, $EURS, $TUSD, and $HUSD — you can earn up to 22% APY with them.
Such a wide range of stablecoins is one of the platform’s distinctive features. It is a perfect option for those who want to avoid taking risks trying to capitalize on volatile crypto assets in these harsh times but also want to avoid keeping money in fiat, not trusting state-owned banks. Investing in stablecoins, which are tied to fiat currencies, can help to minimize the risks.
Weekly Payouts
No more monthly or yearly contracts: HEXN.IO gives its users the freedom to define a favorable payout schedule. You can even set up weekly withdrawals and get a steady revenue stream that you can use for your daily needs.
Magic of Compound Interest
Another option is not to withdraw your earnings every week but reinvest them and thus multiply your profit. You can set up the account in a way that earned interest gets added to your deposit, enlarging the return received in the next period.
The best way to profit from the crypto you own is to combine the long-term holding strategy with the magic of compound interest, and compounding frequency is the point that you should pay attention to. The more often interest is compounded, the higher your returns will be: monthly compounding is better than quarterly compounding. HEXN went further and offered its users weekly compounding — unique terms for making crypto savings at the moment.
Advance Payments
We know how important it is to feel safe when investing your money. That’s why we embedded an Advance Payment feature into HEXN — you can get part of your interest income right after you open a savings account and not worry about the integrity of our lending platform. The longer your deposit term, the higher your interest rate, and the more money you can get now.
On our platform, you can see that certain coins are marked with a special green badge, indicating that Advance Payment is available for the asset.
Safe Storage
To maximize the security of storing our users’ funds, we use an integrated approach combining several of the most advanced practices and technologies, including multisig wallets and automatic transfers from hot to cold wallets. To create additional layers of security, we use the following methods:
- Hierarchical deterministic wallet allows us to store a minimal set of confidential data.
- Distributed dataset eliminates the possibility that the vendor’s repository or our secret data repository will be compromised: it is impossible to reproduce confidential data from only one source.
- Shamir’s secret sharing is a fallback option for restoring access to assets on hot wallets if the vendor’s work is stopped or we lose access to our infrastructure due to an emergency.
Other Features
HEXN has recently presented to the public its Smart Exchange: the feature allows to convert different coins and to profit significantly from this, combining two earning opportunities, trading and lending. During the last months, the platform also launched a regularly updated Proof-of-Reserves page, a mobile application for Android users, and added the ability to make crypto deposits via a regular bank card. The company plans to bring more innovative offerings to the crypto world: loans services and trading bots are currently in development.
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