AAX Exchange launches a crypto savings platform

Thu 19 Aug 2021 ▪ 18h39 ▪ 3 min de lecture - par Katie Donaldson

AAX Exchange is one of the most popular crypto exchanges in Asia and is also famous for its innovations in the cryptocurrency market. Now the platform has introduced a new crypto savings product.

The highest APY recorded so far

AAX Exchange, founded in 2018, leads institutional investors adoption of digital assets and derivatives in the Asia-Pacific region. To accelerate the adoption, their new savings platform will offer up to 20% APY rates to savers on particular cryptocurrency assets, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Circle’s USDC.

The new APY rates are truly impressive. Nowadays traditional finance interest rates on commercial bank deposits cap at 1%. Therefore, AAX will become exceedingly more competitive than its rivals since it has brought aboard an ability to simply stake assets to start earning an interest of 20% on all deposits in a 7-day fixed savings product.

According to AAX’s Senior Operations Manager, Ruby Rong, with up to 20% APY, AAX savings makes HODL easier and helps investors make money while they sleep. He believes that it is very important for investors to allocate a certain amount of their crypto portfolio into savings.

The history of AAX

AAX has been successful right from the start. The exchange was the first to start utilizing LSEG Technology’s Millenium Exchange — the same exchange engine that the London Stock Exchange uses.

AAX has grown massively in just two years. The exchange volumes rose from $20 million (~£14.62 million) daily trade volume in 2019 to more than $1 billion (~£731 million) in November 2020. Moreover, AAX’s user base has reached a million registered users just a few months back.

The important thing to its success lies in providing customers excessive ranges of safety and efficiency on their platform.

The exchange is also one of the best fiats to cryptocurrency on and off-ramps via credit cards MasterCard, Visa, Alipay, Paynow, Bank Account, Instapay, and other platforms. 

Famous in Asia, AAX Exchange will supply as much as 20% APY to savers on their crypto holdings in an effort to drive adoption to cryptocurrencies.

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Katie Donaldson

I went full time crypto back in June 2018, and have never looked back. I want to help persuade as many people as possible to come and build the decentralised future! Let’s go!

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.