• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
phemex
Sensei Inu Logo

Phemex Announces Earn Crypto: Crypto Asset Management Products Offering up to 10% APY

NewsBTC by NewsBTC
3 years ago
in Company News
Reading Time: 2 mins read

All crypto traders are intimately familiar with the risks and the volatility associated with these assets. To protect themselves from drastic price swings, they often seek refuge through stablecoins such as USDT. For periods in between trades, when funds sit unused, Phemex will soon offer a way for these cryptos to passively generate some income as well. The official release date is on January 18, 2021.

These crypto asset management products will allow users to park their crypto assets for a certain duration, providing liquidity to a Phemex investment fund and in return, will earn a certain percentage as interest on their deposits.

With these crypto asset management solutions, users will earn some guaranteed income, without the need to trade or monitor the market. Given these advantages, such solutions are increasingly in more demand.

Phemex Enters the Crypto Fund Management Space

Phemex, the fastest crypto and futures trading platform, is announcing the launch of its own crypto asset management products. The Earn Crypto program is designed with the industry’s needs in mind, offering two solutions – Flexible Savings Account and Fixed Savings Account. With these products, the platform joins industry giants like Binance, except it will offer much better rates for a promotional period. The platform intends to create more accounts and rates in the future as well.

Flexible Savings Account

The first of many products to come, the Flexible Savings Account offers a risk-free investment option capable of generating an estimated APY of 7%. This account type allows investors to deposit and withdraw their funds at any time without any penalties, thereby ensuring they always have access to liquidity if needed.

Investors can deposit up to 50,000 USDT into the flexible savings account. The interest earnings are credited to the account by the end of each day. If the user wishes to continue investing, the daily interest will be added to the initial principal for compounded interest. The user can repeat this cycle as long as they want.

Fixed Savings Account

The Fixed Savings Account has a one-week lock-up period. This option accepts deposits ranging from 100 USDT to 50,000 USDT. It offers an estimated APY of 10%. Once funds are deposited into the Fixed Savings Account, investors will have to wait for a minimum of 7 days before the accumulated interest will be paid out. After the completion of the lock-up period, users can withdraw their deposits along with the credited interest. It also comes with an auto-renewal option for those willing to continue over a much longer period, in which case, the weekly payout would be added to the initial principal and compound interest will be calculated based on the updated amount.

The crypto asset management products offered by Phemex are risk-free and the platform guarantees returns up to 10%. By using various advanced internal investment strategies, the platform aims to maintain consistent returns. Even in the case that such strategies yield a lower percentage, the platform would still cover the loss and still pay out the promised amounts to the customers.

Phemex maintains high levels of transparency and ensures the security of all assets held on the platform with the help of real-time monitoring, regular third-party audits, and more. The company employs a variety of professional risk control mechanisms that thoroughly test and monitor all revenue strategies to eliminate risk exposure.

Tweet123Share196ShareSend
NewsBTC

NewsBTC

Related Posts

Wall Street Memes Enters Last Day of Presale Before Tier 1 Exchange Listing – Could This Be the Next Big Meme Coin?

Wall Street Memes Enters Last Day of Presale Before Tier 1 Exchange Listing – Could This Be the Next Big Meme Coin?

1 day ago
5 New Meme Coins to Watch: Wall Street Memes Could 10x on IEO, Meme Kombat Raises $50k

5 New Meme Coins to Watch: Wall Street Memes Could 10x on IEO, Meme Kombat Raises $50k

2 days ago
Unleash the Power of Crypto Cloud Mining: TopHash

Unleash the Power of Crypto Cloud Mining: TopHash

2 days ago
The Future Landscape of ASIC Miners

The Future Landscape of ASIC Miners

3 days ago
PARIZ Fashion Metaverse by Trace Network Introduces GAMEFI Layer – ZEST

PARIZ Fashion Metaverse by Trace Network Introduces GAMEFI Layer – ZEST

4 days ago
The Future of Social Media: Blockchain Technology’s Challenge to Big Data Dominance

The Future of Social Media: Blockchain Technology’s Challenge to Big Data Dominance

4 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Everlodge (ELDG)’s Electrifying Presale: Stealing the...

    3 hours ago
  • Litecoin (LTC) and Chainlink (LINK) Holders Dive into...

    3 hours ago
  • Discover the Yesgo (YESGO) Listing on XT.COM and Launch on...

    4 hours ago
  • Ex-SEC Chief Optimistic About Bitcoin ETF Approval...

    8 hours ago
  • Bitcoin (BTC) Stays at $27K; Bullish Hints from Aave (AAVE)...

    9 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.