The cryptocurrency ecosystem has grown to become way more than mere buying, selling, or trading electronic assets. The DeFi boom revealed that holders of the emerging asset class are seeking informed ways to make a yield on otherwise idle cryptos.
To find out more on Phemex’s new Earn Crypto flexible and fixed savings accounts, check out the official website.
The ex-Wall Street traders who assembled Phemex pay close attention to the requirements of the marketplace. They are now furthering this growing trend by releasing two types of Earn Crypto saving accounts on January 18, 2021.
These options will offer up to 10% APY. Here is what you will need to know.
A lot of the allure of cryptocurrencies is because of their function as robust and rewarding stores of value.
The bigger the deposit or, the longer the savings period, the larger the return on investment will be. Interest payments are given daily, allowing investors to choose to take the money off the top or allow it to compound into a growing number of crypto.
The crypto industry is now a hotbed of innovation that enables the development of a new futuristic world of finance based on cutting-edge technology.
The two types of savings accounts are broken down further into fixed and flexible. The flexible savings account concentrates on those looking to prevent long-term commitments and want to withdraw earnings or even their base crypto capital at any particular time. Phemex is guaranteeing at least 7 percent estimated yearly APY on a maximum deposit of 50,000 USDT.
Published at Wed, 13 Jan 2021 18:33:45 +0000
These investors hold cryptocurrencies for the long term and are drawn by the promise of earning additional profits by doing nothing more than holding their coins that same way they would have been anyway.
The fixed savings account locks deposits up for incremental periods of seven days. Phemex will offer these accounts an estimated 10% APY, but earnings will be given on a weekly basis.