Bitfinex’s new partnership with a lending and borrowing platform focuses on more earning options for cryptocurrency holders. It announces the collaboration with Celsius Network Limited with the intent to help users earn rewards from their crypto holdings.
The new partnership integrates services from both companies and makes lending and borrowing an option in the Bitfinex platform.
More Rewards For Traders
Lending and borrowing platforms in the cryptocurrency ecosystem have always been great chances for crypto enthusiasts looking for more rewards from their holdings. When a cryptocurrency exchange like Bitfinex decides to partner with one of these services and offer better options for traders, it shows the bright future for services.
As a result of the partnership between Bitfinex and Celsius Network, the opportunity to manage the Celsius wallet in the Bitfinex platform will become available for users.
“Our customers can open a wallet with Celsius and manage it through the Bitfinex platform. Through their Celsius wallet, our customers can earn a return of up to 6.2% APY on Bitcoin, up to 9.65% on Ethereum, and a variety of leading cryptocurrencies,” according to Bitfinex blog post.
There will be no waiting time for Bitfinex users who want to withdraw their crypto from Celsius wallets. They can open a wallet in Celsius and withdraw without any lock-in period or fee. The platform calculates the rewards daily and pays it on a weekly timeline.
The option for Bitfinex users to manage their Celsius holdings is a tremendous competitive advantage and makes Celsius a better choice for traders. Many lending and borrowing platforms have withdrawn restrictions and their penalties for withdrawing the assets.
The new partnership with Bitfinex means a lot for Celsius Network. They offer multiple modern financial solutions to users and benefit from the new wave of customers from the Bitfinex platform.
The comfortable and cross-platform service makes Celsius a far better choice than other income-generating products. Bitfinex will enjoy this new partnership, too, and attract more users because of the variety of services it offers for earning more from cryptocurrencies.
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