Crypto Earn adds ‘flexible term’ option and Singapore support while Crypto Credit adds Collateral Health
The latest in Crypto.com’s suite of personal finance solutions, Crypto Earn and Crypto Credit, now has 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.
Note: The payout terms agreed to with the launch version of Crypto Earn remain in force (May 8 - May 30, 9:59am UTC), which is a 30-day payout. When these fixed-term deposits end (1 month/3 months), they will be automatically converted to a flexible term, which follows a 7-day payout.
New deposits (effective May 30, 10:00am UTC) will follow the new terms of a 7-day payout.
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.
App update now available for iOS (version 3.23) and Android (version 3.23.1). Users must run the App in the latest version for the feature updates.