PDAX Hold and Earn Promo: How Does It Work

While traditional finance talks about interests, the crypto industry has a so-called “yield-farming.” 

• In the Philippines, the crypto community has the opportunity to essentially farm yield from cryptocurrency holdings on one of the local exchanges that is licensed by the Bangko Sentral ng Pilipinas, the Philippine Digital Asset Exchange (PDAX). 

What’s the significance: This article guides readers on how to hold and earn on PDAX. 

This article is in collaboration with PDAX. Make your next money move with PDAX by signing up here!

What is PDAX’s Yield Farming Promo?

About PDAX: Founded in 2018, PDAX is a virtual asset service provider (VASP) registered with the country’s regulators. 

• This means investors that use PDAX are protected by the Philippine law if ever something not good happens. 
• PDAX offers spot trading of cryptocurrencies, tokenized bonds minted on the blockchain, and NFTs through its own marketplace, Mintoo. 

Basically, PDAX allows users to buy, sell, and trade from different cryptocurrencies it offers. 

• And now, it offers those who buy crypto and hold it within their PDAX account to earn yield, this is called the Hold and Earn campaign. 

PDAX’s Hold and Earn Campaign:

PDAX’s Hold and Earn campaign for the month of September offers a 10% annual reward. (Every month, there is a new campaign).

• How It Works: Participants should hold a certain amount of a specific token within the campaign period of at least 24 hours. 
• Eligibility: To be eligible, a user must have at least a level two verified account who has made a qualified transaction within 2024, such as:
  • Buy or Sell Crypto
  • Buy or Sell Bonds
  • Filled Limit Order Transactions
• Participating Tokens and Networks:
  • $USDC on the Solana Network
  • $USDT on the Tron Network
  • $USDC on the Base Network
• Minimum Amount to Hold: 250 Tokens
• Maximum Amount to Hold, 10,000 Tokens
• Most Recent Campaign Until: September 30, 2024 but a new one will be announced every month.
  • Note: The campaign is monthly. There might be different sets of tokens, rewards, and requirements for next month’s campaign. 
  • For monthly update of the campaign, go to https://pdax.ph/hold-and-earn/. 
• Rewards Crediting: Weekly every Wednesday
  • Note: The Wednesday reward is the accumulated rewards from Sunday to Saturday of the previous week. 
  • For example, the reward that will be given on September 18 is the accumulated rewards from September 1 to 7. 
• Computation for Daily Rewards: (Amount of Holdings) * (10% * (1/365))
  • Example: A participant holds 250 $USDC and wants to earn for just a week. 
    • 250 $USDC * 10% * (1/365) * 7 = 0.48 $USDC Worth of Rewards for Seven Days

Benefits of the ‘Hold and Earn’ Promo

While the Hold and Earn campaign of PDAX is similar to what the digital banks are doing in offering interest rates to those who will save money on their bank accounts, yield farming in crypto offers benefits. 

• The main advantage of PDAX’s Hold and Earn Campaign is that the rewards are in cryptocurrencies.
  • For instance, holding $USDC on the campaign will make a participant earn $USDC. 
  • Though currently, PDAX offers stablecoins for the campaign, if the time comes that altcoins will be offered, this advantage will be more felt. 
  • Example, $SOL. If I earn 0.05 $SOL by holding 25 $SOL, which is around ₱7,500 per token, when I ‌cash it out on the next bull run which could reach ₱10,000, I will surely earn more. 
• It is also better than staking, especially for those who need their funds to be withdrawn immediately, as tokens do not need to be locked, only to be held.
• Meanwhile, the campaign is also applicable to long-term investors, including those who do peso cost-averaging, as adding investments consistently and holding the tokens can qualify for the campaign. 
• Lastly, it offers a passive income in crypto investing. Not everyone has extra time to monitor the market’s performance, thus, earning when holding a token is a plus to busy people who still want to earn crypto. 

How to Participate in PDAX’s ‘Hold and Earn’ Promo

• Step 1: Log in or create a PDAX account at https://pdax.ph/ or download its mobile app.
• Step 2: Supply the required personal information to be at least a level two verified user. 
• Step 3: Buy or deposit the required minimum amount of the participating tokens of the campaign and hold it for at least 24 hours.
  • To buy, go to the crypto tab. 
  • Choose the preferred token. 
  • Type in the desired amount to be bought. 
  • Confirm the transaction. 
  • Note: The PDAX account should have funds. 
• Step 4: Wait for the rewards to be distributed.
  • Normally, there is an email confirmation about the distribution of rewards. 
  • The rewards will also automatically be received by the PDAX account. 

Overall

Before deciding to join the campaign, it is advisable to do proper research first about the participating tokens. 

• It is because the market is too volatile, and the token’s price action may be negative. 
• Thus, learn about the token first, its dev team, and its use cases, so you are assured that its price will be consistent with the market performance. 

However, holding a cryptocurrency and earning because of it can be considered lower-risk than providing liquidity, lending, and other crypto initiatives that earn you yield. 

If you learn something from this article, you can now try to start holding crypto to earn rewards on PDAX.

This article is published on BitPinas: PDAX Hold and Earn Promo: How Does It Work

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