8% interest on all your cryptos (FTX Earn): the ultimate tutorial to tear up your booklet A

We no longer present FTX. A centralized cryptocurrency exchange platform among world leaders, it is regularly distinguished by a quite singular force of innovation. Always at the forefront of original and disruptive DeFi offers, it is no surprise that it has been offering a very interesting new product for some time now: FTX EARN. It thus offers the possibility, to those who trust it, to generate an automatic and large return on any (crypto)currency or fiat present on the platform, in just a few clicks!

Le Journal du Coin offers you this promotional article in collaboration with FTX.

FTX

Founded in 2019 by Sam Bankman-Fried, Wall Street veteran (only 21 years old) and financial genius, the platform was designed “by traders, for traders”. It thus offers a very complete range of DeFi-branded products and tools that delight professionals and individuals alike.

With a $32 billion valuationFTX manages on its own 4% of total cryptocurrency exchanges taking place on all centralized platforms. Thanks to the expertise of its leaders, it has proven in the past its ability to anticipate crises, and has generated significant profits since its creation, regardless of market movements.

Furthermore, FTX knows how to reward its users by redistributing part of its profits to them in various forms. This creates a virtuous circle by attracting new users and capital which in turn generates more profits…

FTX EARN Overview

FTX EARN is therefore a novelty of the platform. A device that offers to pay you up to 8% annual on any cryptocurrency or fiat currency deposited on the platform.

How much can you earn?

The annual return depends on the amount you wish to allocate to FTX EARNas following :

  • 8% annual on the first 10,000 dollars of capital
  • 5% annual on your capital over 10,000 dollars and up to 10 million dollars
Return of FTX EARN (source: help.blockfolio.com)

If you plan to invest more than 10,000 dollars in this product, you will therefore have to do a calculation to estimate the return.

Formula for calculating return on FTX EARN

For example, with a capital of 15000 dollars made up of 10000 dollars of bitcoins and 5000 dollarsethereumsyou will get an overall return of 7%:

Example of return calculation with FTX EARN for $15,000 of capital

Don’t panic if you don’t like math! Once your funds are delegated on the app, FTX will do the calculation automatically for you.

How will you be paid?

The interest announced above is said to be “compound”. This means that FTX pays out your profits to you every hour and automatically feeds them back into your position. The advantage is that your working capital increases without your needing to intervene.

>> Play the DeFi card, register on FTX the reference of crypto exchanges (commercial link) <<

You are paid in the same cryptocurrencies as those in your allocated wallet, in proportion to its composition. You obtain the same return on all your tokens. To put it simply, using the previous example, you earn 7% in Bitcoin on your $10,000 of Bitcoin and 7% in Ether on your $5,000 of Ether.

Not very restrictive conditions

If you subscribe to FTX EARN, your funds are not blocked and you can use or withdraw them without constraints or delays. You can also cancel your subscription at any time with just a few clicks. The return offered by the device comes from a staking managed by the platform thanks to your funds.

Despite its professionalism, the team nevertheless reminds that your wallet is not a bank account and that your funds are not insured. Investing in cryptos presents risks, and they should not be taken lightly. Be aware though thatFTX announces hedging on its own funds the value of all the assets delegates on FTX EARN.

Subscribe to FTX EARN

Install FTX on smartphone

Strangely, FTX EARN is only accessible from the platform’s mobile application. To take advantage of this product you will need to install the Blockfolio version of FTX on your smartphone. It is available on Google Play Store and Apple Store.

FTX Blockfolio mobile application that allows you to manage your cryptocurrencies from your smartphone
FTX App Download Page

Subscribe to FTX EARN

Launch the app and go to ” Login “. Then select ” FTX International (unless you are resident in the USA) and log in using the same credentials as those you use for the web version.

Connection to FTX Blockfolio with the same credentials as for the crypto exchange on the web
Mobile app login interface

You can now subscribe to FTX EARN in 3 clicks:

  • Go to your portfolio using the ” Wallet at the bottom middle.
  • Click on “Earn up to 8% on your funds”.
  • Accept the terms with “Start Earning”.
Subscribe to FTX EARN
Steps to subscribe to FTX Earn

It is done ! Your funds immediately start earning interest which you will touch every hour.

If you do not see the purple rectangle “Earn up to 8% on your funds” appear, you have authorized margin trading with your account.

Margin trading is a blocking factor to benefit from the 8% per year on all your cryptos offered by FTX Earn
Message related to margin trading

In effect, it is not possible to combine FTX EARN and margin trading. You will need to disable margin trading from the web version of FTX.

To do this, follow the steps below:

  • Click on your name (1)
  • Go to “Settings” (2)
  • Go to the “Margin” tab (3)
  • Click on “Disable spot margin trade” (4)
Disabling margin trading on FTX
To take advantage of FTX Earn, you will have to give up margin trading

You should now have access to the FTX EARN feature by returning to the mobile app.

Be careful though, because if you re-enable margin trading, FTX EARN will be automatically disabled (without warning message).

Track your earnings and cancel your subscription

Your earnings are automatically displayed next to your account balance. You can view the details by clicking on it.

Then appears the annual return in percentage according to the amount you have deposited on the platform. You will also find how much you have earned for each asset in your portfolio.

>> Passive income is the benchmark for crypto exchanges on FTX (commercial link) <<

Tokens staked on the platform are not taken into account by FTX EARN. You cannot therefore generate interest on it with this product.

FTX EARN Earnings View and Subscription Cancellation
Management interface for your delegated funds

If you decide to withdraw your funds from FTX EARN, you can do this with the button at the bottom of the screen “Stop generating return on assets”. The option will then be immediately suspended.

Safety reminder

It’s safer not to stay connected to FTX on your smartphone. In the event of loss or theft, it would be easy to steal your funds, especially if you use a 2FA whose code is available on the same device.

So think of yourself disconnect as soon as you are done using the app.

Logging out of FTX Blockfolio.
When finished, log out

Once again, FTX is particularly innovative in terms of DeFi protocol ! In this period of galloping inflation, the platform could well offer here a tool of economic resilience of choice. Easy to configure, without a blocking period for your capital, part of your savings would undoubtedly be more boosted there than on your endless Livret A, don’t you think?

Bitcoin, Decentralized Finance, crypto-assets… so many notions that are increasingly part of everyday life. Take the lead and start earning passive income in crypto and fiat currency on the FTX reference platform and get a lifetime discount on your trading fees (trading link).

Leave a Comment