- AAX Exchange is bringing aboard its latest enticing product.
- Behold, the new savings account allows users to gain up to 20% APY rates.
- Users can stake their cryptos (BTC, ETH, USDT, and USDC) to earn high interest.
AAX Exchange — the Asia-based cryptocurrency exchange, is launching its crypto savings platform. This platform will bring the highest APY to users across the centralized crypto exchange network. In detail, users can get up to 20% APY rates on their crypto assets.
Founded in 2018, AAX Exchange is a reputed leader in the Asian crypto market. It offers an easy-to-use platform. Users enjoy fast and secure digital asset trading. That being said, this latest initiative aims to drive more users onto the exchange.
Presently, the platform leads institutional investors in the adoption of digital assets in the Asia-Pacific region. It also offers derivatives as well. The company is known for its enticing and innovative products. These are what make the platform popular.
The latest addition to this roster of products is the new savings product. Specifically, this product will offer the highest APY recorded so far. However, it will apply to certain cryptos only. This includes Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Circle’s USDC.
AAX’s Senior Operations Manager, Ruby Rong, says,
With up to 20% APY, AAX savings makes HODL easier and helps you earn while sleeping.
To add on, the team believes that no matter the state of the market, bear or bull, it is important for investors to allocate a certain amount of their crypto portfolio into savings.
To highlight, AAX’s main exchange came out in November 2019. It made its name by being one of the leading institutional-grade crypto exchanges. AAX exchange became the first crypto exchange to use LSEG Technology’s Millenium Exchange. To emphasize, this is the same exchange engine that the London Stock Exchange uses.
Moreover, AAX is also the first of its kind to have joined the London Stock Exchange Group’s Partner Platform. The firm says that the key to its success lies in offering users high levels of security and performance on their platform.
The exchange has seen massive growth rates in less than two years. The exchange volumes rose from 20 million USD daily trade volume in 2019 to more than 1 billion USD at their peak in November 2020. To boost, this year saw further adoption with AAX’s user base growing to over a million registered users.
Coming at a time where traditional finance interest rates on commercial bank deposits cap at 1%, AAX’s latest savings account is a great option. One can simply stake their assets to start earning an interest of 20% on all deposits in a 7-day fixed savings product.
These interest rates are not available on any centralized crypto exchange. More so, the assets are not available elsewhere. Also, AAX offers both flexible and fixed savings products with up to 20% APY for over 80 major crypto assets.
Finally, AAX Exchange also ranks as one of the best fiat-to-crypto on and off-ramps. This is via credit cards MasterCard, Visa, Alipay, Paynow, Bank Account, Instapay, and other platforms. Indeed, it looks like AAX’s latest savings account is truly a pretty sweet deal.