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A guide on OVEX's Interest Accounts

  • OVEX offers interest-bearing crypto accounts to any OVEX exchange user.
  • These enable you to earn yield on your otherwise idle cryptocurrency.
  • OVEX supports a number of different assets in its Interest Accounts:
    • OVEX Interest Accounts work identically to traditional call accounts. There are two discerning differences though. Firstly the yield is unmatched when compared to traditional fixed deposit/savings accounts. Secondly the withdrawal notice is only 14 days!
    • With OVEX you can browse through an array of stablecoins and then earn yield on them. Cryptocurrency investors looking for the perfect combination between stability and yield love locking up their stablecoins in OVEX Interest Accounts.
  • Simply deposit your cryptocurrency, leave it in the account, and earn an annualised interest rate which is paid out daily!
  • Be mindful of the minimum deposit balance required dependent on the asset you choose to lock into the Interest Account. You can see minimum balance requirements here.

For the purpose of this example we will open up an Interest Account for dollar stablecoin USDC

STEP 1: Login to your OVEX account and click on Interest Account in the nav bar.

Click on <View interest account rates> to see a table that indicates the Minimum Balance needed to open the account as well as the yield which varies dependant on deposit size.

Interest Account 2Interest Account 4

STEP 2: Click on <+Open new Interest Account> and select the asset you would like to open up an interest account for - in this case USD Coin (USDC).

Interest Account 1-1

Interest Account 5

STEP 3: Enter the amount of USDC you want to earn yield on. Then click on the <Open Interest Account> button. Be sure to read the Terms of Service for OVEX Interest Accounts first.

Interest Account 6

Congratulations. You are now earning yield on your USDC. You can see all the assets you have staked in the interest account and make new deposits by clicking on the <Deposit> button.

Interest Account 7

Your interest is paid out daily at 5pm.

These repayments are not reinvested into the Interest-Bearing Account but are paid out into your OVEX Wallet. It is up to you whether you want to compound profits by reinvesting these earnings into the interest account. Interest proceeds are reinvested by moving these funds from your OVEX Wallet and into a supported Interest Account accordingly