In 2020, users have a plethora of options when selecting a cryptocurrency exchange. It’s estimated that there are more than 500 exchanges offering crypto acquisition services, creating a crowded ecosystem that can be complicated for users to navigate.
That’s why Edge, a leading self-custody cryptocurrency exchange with nearly one million users, has announced a partnership with Cred, a global crypto-backed lending and borrowing platform with customers in more than 190 countries. As a result, Edge users can now earn up to 10% interest on several of the most prominent cryptocurrencies, including Bitcoin, Litcoin, and Ethereum.
Source - https://earn.mycred.io/edge
Their collaboration offers users new functionality that differentiates Edge from the competition, allowing them to rise above the hundreds of other platforms offering more basic crypto custody services. In a statement, Cred acknowledged the exchange’s maturity and opportunity to leverage its services to develop its platform.
“While there are many wallets and exchanges on the market, it is rare to see a self custody solution as advanced as Edge. We look forward to supporting Edge’s continued growth and enabling Edge customers to lend and borrow in a secure manner,” explains Dan Schatt, CEO and co-founder of Cred.
For the million users frequenting Edge’s exchange, they are hoping for the same thing.
Edge is a multi-asset self custody exchange that allows users to buy, sell, and trade digital assets. Practically since its inception, the exchange has stood out as a security leader. As it was one of the first to remove the requirement of private key backup in a self-custody app, to enable one-touch two-factor authentication, and to invent a password recovery method for encrypted data. Now, those features are serving as the foundation for a platform that allows users to earn interest on these things is a next-level initiative for the company.
Edge users begin earning interest by signing up online. During this process, digital currency owners can pledge digital assets for a specific maturity date, earning up to 10% interest annually. This return is paid out monthly via crypto or stablecoin.
Cred uses pledged assets as part of its lending initiative that’s both collateralized and guaranteed. To protect pledged assets, Cred does not lend to short-sellers. To complete the process, Cred works with trusted and reputable collateral agents, including Bitcoin, Bittrex Enterprise, and Lockton.
Notably, Lockton is the world’s largest independent insurance broker, receiving the top ranking in client satisfaction for commercial insurance, according to J.D. Power.
It’s this commitment to excellence that inspired the partnership in the first place. As Paul Puey, CEO and co-founder of Edge said in a statement, “Cred stood out to us for many reasons -- the caliber of its team, the strength of its legal and regulatory infrastructure, its capital markets competencies, a proven track record of delivering returns, and its scale. Edge users now have the benefit of earning interest on their crypto via a secure and licensed financial services platform.”
Simply put, while investing in general and cryptocurrencies in particular always come with a certain amount of risk, Cred and Edge are actively working to minimize potential uncertainty while providing a pathway to guaranteed returns for crypto investments.
Consumers have never had more choices when it comes to selecting a crypto exchange that suits their needs, wants, and desires. The 10% investment return offered by Edge distinguishes the platform from the competition. It serves as an intriguing opportunity for crypto investors interested in the burgeoning digital asset ecosystem but who want a simpler, more straightforward investment approach in the process.
Users can begin signing up now. For many people, this unique investment product is something that deserves a second look.