FTX Earn: how to generate up to 8% interest on your cryptocurrencies easily?

Make your cryptocurrencies grow simply with FTX Earn

We no longer present FTX, the second cryptocurrency trading and exchange platform behind Binance, which records more than 10 billion dollars traded every day for more than one million monthly active users.

His now well-known maxim ” by traders, for traders reflects the success of the platform and its various tools, be it derivatives, futures contracts, the use of leverage and of course that a spot market now widely recognized for its low fees.

But FTX goes beyond cryptocurrency trading and also offers a way to make them grow with an annual interest rate of up to 8%and this without any binding operation.

Indeed, this tool called “FTX Earn” offers an interest rate of 8% per year on all the assets you hold on the platform up to a threshold of $10,000. All assets deposited above this amount will offer a return of 5%.

FTX Earn’s solution only takes a few minutes to set up, and can be a very interesting alternative to decentralized finance (DeFi). Indeed, DeFi provides access to attractive interest for your cryptocurrencies, but this is often done through various complicated operations which sometimes prove profitable over a limited period, with yields often being revised downwards.

But above all, we can see that DeFi is fertile ground for hacks that are multiplying and whose amounts can sometimes reach staggering sums, and this can sometimes leave investors harmed and without any recourse to recover their cryptocurrencies.

On the contrary, FTX is a platform with substantial liquidity and, above all, who has never known the slightest hack. So, how to take advantage of FTX Earn?

👉 Discover our complete presentation of the FTX cryptocurrency exchange

First of all, it will be necessary to register on FTX. This operation can be carried out both on an Internet browser and on the mobile application, knowing that we will need the latter to be able to take advantage of FTX Earn.

To benefit from 5% discount on all platform feesyou can note the code 2238582 when you register. This will remain valid for life on FTX.

The code applies by default if you use the link below:

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Investing in cryptocurrencies is risky (learn more)

Let us specify from the outset that the FTX Earn functionality is, for the moment, available only on the FTX mobile app. Also, it will be necessary to download the latter from the App Store or from Google Play.

Note that to be able to take advantage of FTX Earn, it will first be necessary to register on FTX, but also to validate the Know Your Customer (KYC) procedure. If you need more detailed information about registering on FTX or KYC, we invite you to read our tutorial for this purpose.

Once the FTX application has launched, log in with your previously created credentials, making sure that you have selected ” FTX International on the login page.

Once the connection is successful, it will be enough to activate FTX Earn with a few clicks. To do this, go to the lower tab ” Wallet » then select « Earn up to 8% on your funds “. Then press ” Deposit » and fund your account if this has not been done beforehand.

You can perform this operation as well using fiat currencies from your bank account than by importing cryptocurrencies from an external wallet.

As we mentioned at the beginning of this guide, FTX Earn is a solution that allows you to generate up to 8% interest on your cryptocurrencies with a threshold currently set at $10,000. Once this amount is exceeded, the interest rate increases to 5% for assets above this tranche.

💡 Example : Let’s say you want to commit $5,000 in Bitcoin (BTC) and $5,000 in Ether (ETH) on FTX Earn, so you will benefit from 8% interest rates on these 2 assets. If you later decide, for example, to add an amount equivalent to 2,000 dollars in AVAX tokens from Avalanche, then these will give you 5% interest. Thus, all of your assets will earn you 6.5% interest per year.

FTX Earn generates what is called compound interest. That is to say that FTX automatically takes into account the interest already generated on your deposited funds to calculate your future interest, you do not have to perform any manipulation. What’s more, your earnings are automatically added to your wallet every hour.

Also note that you will receive your winnings with the same cryptocurrency as originally allocated. Continuing our example, you would be paid in the form of BTC, ETH and AVAX with a rate of return of 6.5%.

Note that it is not possible to use both FTX Earn and margin trading. This option is disabled by default, but if you ever need to disable it, you will need to go to the FTX website.

Once connected to the site, go to the your account (1), then in the settings (2). Here, click on ” Margin » (3) on the left of your screen and finally on « Disable spot margin trading “.

FAQ: Frequently Asked Questions about FTX Earn

Are my funds locked while using FTX Earn?

No, your funds are never blocked while using FTX Earn. These can be withdrawn at any time, and you are also free to end this service whenever you wish.

I want to stop using FTX Earn, what should I do?

If for any reason you wish to stop using the services of FTX Earn, simply return to the ” Wallet of the FTX application, then press ” Total won » and finally to select « Stop generating return on assets ” at the bottom of the page.

Do I have to buy cryptocurrencies on FTX to benefit from FTX Earn?

No, you are not required to buy the cryptocurrencies you want to invest in savings from FTX. It is quite possible to import the assets that you hold on an external wallet.

Are my funds at risk on FTX Earn?

FTX being a centralized platform, there remains a risk if ever the exchange were to go bankrupt. However, FTX has already proven time and time again its resilience in the face of market uncertainties and complicated times for the cryptocurrency ecosystem. In addition, FTX is committed to covering the assets pledged by its users with its own funds.

Is FTX Earn available in France?

FTX Earn is available in all countries already served by the platform, including France. You can follow the evolution of this list on the dedicated FTX page.

I have a major problem with FTX Earn, what should I do?

If you have a problem with FTX Earn, you can contact FTX support on the dedicated support page. The platform benefits from very responsive and available support.

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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.

Maximilien Prue

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