Nebeus, a British/Spanish crypto fintech, has introduced a new crypto service called crypto renting. The fintech, whose aim is to bridge the gap between crypto and cash, has been offering crypto-backed financial services such as lending, trading, and money transfers since 2017.
Crypto renting works like any other renting business: someone pays you for the use of something, for example, a property, land, or a vehicle. In our case, you rent your Crypto to Nebeus for a predefined period, and Nebeus pays you for the use of your Crypto.
According to the firm, crypto renting works like crypto savings. However, with crypto renting, you rent your crypto to Nebeus through a rental agreement and earn interest annually. Crypto renting requires you to deposit your money into a savings account and earn interest based on the prescribed period. It is one of the ways you can earn passive income with crypto.
Cryptocurrencies such as bitcoin are generally considered a safe and reliable store of value. Therefore, many people who own cryptocurrencies keep them in crypto wallets as an investment asset without any other use. Nebeus new product allows crypto holders to earn a profit without selling while still “hodling.”
The process is simple, short, and straightforward. It takes a few minutes to join the service by signing on the website. For your account to be fully verified for KYC purposes, you need to verify your phone number, residential address, and upload your selfie. Once your account is activated, your next step is to choose the crypto renting program that suits your investment needs. There are two programs, Juniper and Sequoia.
The Juniper program has a 6.45 percent interest. Therefore, if you rent out a minimum of 0.006 BTC or 0.3 ETH (50 EUR) for more than 3 months, Nebeus will pay you 6.45 percent per year. The deposit period is 3 to 36 months. For the Sequoia program, if you rent the company a minimum of 0.35 BTC or 18 ETH (2,500 EUR), they will pay you 8.25 percent per year. The deposit period is 6 to 36 months. During the deposit period, the payout is credited to your account monthly, but your cash earnings can be withdrawn every 24 hours. Both crypto renting program attract zero fees.