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Cryptocurrency has so many benefits that will make your financial matters easier to handle. You can even make plenty of good money from it if you know how to strategize. One of the easiest way to earn profit from cryptocurrency is by exchanging it in the market and gets some extra money from the exchange rate margin.
However, if you are planning to make some profit from exchange rate margin, then you need to be very careful. For starters, cryptocurrency is notorious for its volatility and sudden price growth, and even reduction, especially in the less popular altcoins.
The first step to move safely yet profitably in this business is by choosing the right coin exchange ecosystem. It must have a mechanism to reduce the risk of cryptocurrency volatility as well as offer stable exchange rate just like Minexcoin.
One of Minexcoin’s instrument in keeping the ecosystem stable without reducing the user’s possibility to earn money from exchange rate margin is called Parking. Let’s find out more about this financial instrument below.
What is Parking and What Makes It Different with Depositing Money?
Parking is a very effective financial instrument that you can only find in Minexcoin ecosystem. Even though the idea seems very foreign, you actually will easily understand its application as long as you are familiar with money deposit system in a bank.
Well, in some aspects, Parking is indeed pretty much the same with depositing your money in the bank. You will be required to “park”, or let’s say temporarily suspend some amount of coins in your wallet for a certain amount of time. During that period, the coins should be left untouched in your wallet. It will ensure the ecosystem to be stable because it always has enough amount of coins. As a gratitude for your participation, you will be rewarded by up to 70% per annum according to how many coins you park.
Now, let’s find out why parking is different with depositing. First of all, the amount of your reward is clearly bigger. Furthermore, the coins will always still be yours during the parking period. When you are depositing your money in the bank, the deposit will be the property of the bank and there will be penalty you have to pay for foreclosures. But when you park your coins, you can still use the coins if you need it, but you will not get the bonus if you use it during the parking interval. But even though you don’t get rewards, you also don’t lose your asset.
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