Crypto Earn adds 'flexible term' option and Singapore support while Crypto Credit adds Collateral Health
HONG KONG, May 31, 2019 /PRNewswire/ -- Crypto.com, the pioneering payments and cryptocurrency platform, announced today that its latest suite of personal finance solutions, Crypto Earn and Crypto Credit, has added new features that will empower customers to better manage their crypto assets.
Following the release of Crypto Earn two weeks ago, we are happy to announce today that Crypto Earn is now open to our users in Singapore.
Flexible term now available: Users who want to have full flexibility (withdrawal at any time) can now earn 4% p.a. on their digital assets.
Weekly interest payout: Users with active deposits will receive interest every 7 days, deposited straight to their crypto wallet - immediately available for use.
Multiple active deposits enabled: Users can make multiple deposits into their preferred terms, as long as it is within the maximum amount of $1,000,000 USD for all deposits combined.
Earn with more cryptocurrencies: On top of BTC, PAX, and TUSD, users now have the option to deposit ETH, LTC, and XRP into Crypto Earn and start accruing interest. The interest will be paid out in the same currency as your deposit currency.
In addition, you will never lose a day of growing your crypto assets as your fixed term deposits will be automatically converted to a flexible term when the fixed term ends.
Note: Users in Singapore will have the option to deposit BTC, ETH, LTC, and XRP into Crypto Earn. PAX and TUSD is currently not available for deposit.
Crypto Earn Eligibility - Crypto.com Wallet & Card App approved users except citizens or residents of Hong Kong SAR, Switzerland, Malta, or the United States of America. Efforts are underway to make these products available to these jurisdictions.
Collateral Health: After you have deposited your crypto (BTC) as collateral to instantly secure a loan, you can now monitor the state of your collateral health. Collateral Health indicates whether your collateral is at risk of being liquidated, based on your current Loan-to-Value (LTV) ratio.
Margin Call: If your Collateral Health reaches the poor or critical threshold, Crypto.com will trigger a Margin Call, notifying you to rebalance your loan by:
a) Depositing additional collateral (Top-up your collateral)
b) Making a repayment
Crypto Credit Eligibility - Crypto.com Wallet & Card App approved users except citizens or residents of Hong Kong SAR, Singapore, Switzerland, Malta, or the United States of America. Efforts are underway to make these products available to these jurisdictions.
Crypto.com was founded in 2016 to accelerate the world's transition to cryptocurrency. Key products include: the Crypto.com Wallet & Card App, the best place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 120+ strong team. For more information, please visit: www.crypto.com.