A guide on OVEX's Interest Accounts
- OVEX offers interest-bearing crypto accounts to any OVEX exchange users
- OVEX supports a number of different assets in its Interest Accounts
- OVEX’s Interest Accounts operate similarly to traditional savings accounts
- In fact, they work identically to a 30-day call account. Except the yield is comparatively a lot higher. Especially for stablecoin holdings. This is what makes OVEX Interest Accounts so appealing to crypto investors.
- You deposit your cryptocurrency, leave it in the account, and earn an annualised interest rate which is paid out daily!
To deposit your funds into a crypto interest account:
- Login to your OVEX account and click on ‘Interest Account’ in the menu
- Click on ‘Open new Interest Account +’ and select the asset you wish to deposit
- Input the desired deposit amount and select ‘Open Interest Account’
- Congratulations you are now generating interest from your cryptocurrency holdings!
Your interest is paid out daily at 5 pm. 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