Brisbane-based digital asset platform Coinstash steps into a new cryptocurrency era with the launch of Coinstash Earn, an innovative way for Australians to earn a passive income minus the hassle of trading.
Coinstash is on a mission to enable everyday Aussies to uncover the true potential of digital and real-world capital with a secure and trusted digital asset platform that allows people to use their cryptocurrencies like traditional currency and physical assets.
Since launching the platform in 2019, Coinstash founders Ting Wang and Mena Theodorou have helped thousands of Australians buy, sell and exchange more than 340 different cryptocurrencies via a simple user interface.
“Our vision is to financially empower Australians by bridging the gap between traditional finance and digital assets, by becoming the trusted local gateway to access the world of crypto with a few simple clicks of a button,” Mr Wang said.
The industry-leading enterprise has now introduced Coinstash Earn, an Australian-first crypto product that allows investors to earn daily rewards of up to 18.0% per annum* when they deposit their crypto holdings for a fixed period.
Coinstash EARN allows customers to earn a rate of return on both stakeable and non-stakeable cryptocurrencies, including Bitcoin, Ethereum, USD stablecoins and xAUD, a stablecoin tied to the value of the Australian dollar, credited weekly to their accounts.
With Coinstash Earn, investors can receive impressive annual returns of 4.20% on their digital Australian dollars (AUD), compared to an average of less than 1% at the ‘Big Four’ banks.
“Investing takes time and effort, so Coinstash Earn does the hard work for you,” Mr Theodorou said.
“Earn is a critical launch for Coinstash on our way to becoming a bank of the future that allows our customers to skip the steep crypto learning curve and make a passive income without needing to master the very challenging task of timing the market,” Mr Wang said.