Belgian professional footballer Kevin De Bruyne has been appointed as a brand ambassador for Singapore-based cryptocurrency platform Phemex.
Phemex operates as a crypto trading derivatives platform. Phemex is a professional and trustworthy global cryptocurrency derivatives exchange, offering Bitcoin, Ethereum, Ripple, and Chainlink perpetual contracts, with up to 100x leverage.
In addition to his role as a global ambassador, Kevin De Bruyne has shown a keen interest in cryptocurrencies, and he will also teach football fans about cryptocurrencies.
Kevin De Bruyne, who plays in the midfield position, is currently playing for Premier League club Manchester City and the Belgium national team. He is widely regarded as one of the world’s best players, and pundits have often described him as a “complete footballer”.
Last year, Argentinian football superstar Lionel Messi accepted cryptocurrency PSG tokens as part of the payment after signing a new contract with the Paris Saint-Germain (PSG) team.
Famous football star and entrepreneur David Beckham was also appointed as a global brand ambassador for the DigitalBits blockchain.
In March, Four-time tennis star Naomi Osaka became FTX’s global ambassador, becoming one of the first major female professional athletes to partner with FTX.
Phemex is excited to announce the launch of the 4th edition of their highly popular trading competition –Phemex Trader’s Arena
Team up and battle it out for a prize pool totaling up to $750,000 with Phemex Trader’s Arena
Previous PT Arena competitions only counted inverse BTCUSD contract trades, butthis time allcontracts available on Phemex will count.
The main prize pool and structure remains the same, but this time Phemex is adding an additional reward opportunity for participants who deposit funds into their contract trading account during the registration period.
Since all contracts are available, each participant will end up with ROI on both their USD and BTC trading accounts. Whichever ROI is higher (in either USD or BTC trading account) will count towards the calculation for a team’s final ROI. For the individual rewards, results will be calculated using aggregate PnL across both USD and BTC trading accounts.
Dates
Nov. 25th 2021 – Dec. 9th 2021:Captain and Team Registration Period
Dec. 9th 2021 8 AM UTC – Dec. 24th 2021 8 AM UTC: Competition Period
Dec. 24th 2021 – Jan. 7th 2022: Award Distribution
Participants Prize Pool (USD)
The prize pool forPT Arena 4depends on how many participants there are. The more participants, the bigger the prize pool. So captains and players, hurry up and get your teams assembled, buckled up, and ready to trade. $750,000 in BTC is waiting for you to claim.
Team Size and Captain Rewards
For this edition of the Trader’s Arena we’ll continue with rewards for Team Captains. Any individual that can successfully form a team will receive a prize that varies based on team size.
Deposit Rewards
For this edition of PT Arena, we will give trading bonuses to participants who make sufficient deposits to their contract trading account during the registration period. Trading bonus amounts and deposit thresholds can be found in the table below. All trading bonuses will be distributed after the competition ends, alongside other prizes.
Competition Format
Traders with enough influence to attract a large team can apply to become Team Captainshere. All qualified traders can join the teams or captains of their choice.
A valid team must have at least 10 members. Any teams that do not meet this requirement by the time the competition begins will be disbanded. Members will then be randomly assigned to other qualified teams.
Team rankings will be based on the average Return on Investment (ROI) of each team’s top 10 traders. All participants will also be ranked and rewarded at an individual level. Unlike team rankings, individual scores will be based onProfits and Losses (PnL).
Information about how we will calculate the formulas for individual ROI and team ROI can be foundon the competition page.
Award Breakdown
The final prize pool will be divided into two award categories: Team Awards and Individual Awards.
Team Awards amount to 78% of the final prize pool. The breakdown goes like this:
The 1st Place Team receives 25% of the total prize pool
The 2nd Place Team receives 15% of the total prize pool
The 3rd Place Team receives 8% of the total prize pool
The 4th-10th Place Teams receive an equal share of 30% of the total prize pool
Captains of a winning team will receive 40% of their respective team’s award
The top 10 team members of each winning team will share 30% of their team’s award equally. All other team members will share the remaining 30%
If a winning team has less than 20 members, the captain will receive 40% of the team’s award, while the other 60% will be divided equally among the rest of the team members. Accounts with transaction volumes below 500 USD during the competition period will not be eligible to receive any awards
Individual Awards amount to 22% of the final prize pool. The breakdown goes like this:
The 1st Place Individual receives 8% of the total prize pool
The 2nd Place Individual receives 5% of the total prize pool
The 3rd Place Individual receives 2% of the total prize pool
The 4th-10th Place Individual receive an equal share of 7% of the total prize pool
Users are only eligible to participate with a single account. Please make sure the email address you use to enter the event is connected to a valid Phemex UID.
A reminder to watch out for case sensitivity when providing your email address (it is case sensitive).
Once the competition begins, if a user’s BTC trading account net value is below 0.005 BTC or USD trading account net value is below 200 USD, the initial net value will still be calculated as .005 BTC or 200 USD respectively.
To view any other rules, prize breakdowns, and requirements for this competition, head to our landing pagehere
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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While all investing carries some risk, that doesn’t mean all risk is created equal. Learn how to optimize your portfolio weighting for the best risk-adjusted returns using modern portfolio theory and the Sharpe ratio.
Modern Portfolio Theory
To calculate the most efficient crypto portfolio, we will utilize aspects of Modern Portfolio Theory (MPT). The theory assumes that an investor is risk-averse and is looking to find the optimum ratio between theoretical gains and assumed risk. MPT does this by taking a batch of assets and calculating the best weighting for each using historical data. From this point, we can adjust weightings to increase or decrease theoretical returns against the volatility of each asset.
Riskier investments often have the potential for greater returns. Thus, modern portfolio theory seeks to create a weighted portfolio that finds the highest theoretical returns for the least amount of risk.
For example, a portfolio weighting could yield a 90% return based on historical data but have an implied risk (as measured by volatility) of 0.8. Another weighting could lead to only 70% returns but have a much lower risk, making it a better risk-adjusted investment. This ratio between expected return and risk is more commonly known as the Sharpe ratio.
The higher an asset, or group of assets, the higher its theoretical returns are per unit of risk. By experimenting with different asset weightings, we can find optimum portfolio compositions depending on how much risk an investor is willing to take. We can use a Monte-Carlo approach to generate an “efficient frontier” of portfolio compositions that maximizes risk-adjusted returns.
Source:DataDrivenInvestor
Each dot on the graph represents a hypothetical portfolio. Dots in black on the top edge of the plot are part of the efficient frontier. These portfolios have the best risk-adjusted returns, meaning that an investor is not taking on additional risk without the likelihood of optimum returns.
The Sharpe Ratio and Crypto Portfolios
While modern portfolio theory and the Sharpe ratio were originally designed for use in traditional financial markets, investors can also use them to optimize a crypto portfolio.
However, calculating an accurate Sharpe ratio relies heavily on historical price data. To generate a good Sharpe ratio for portfolio allocation of a given crypto asset, we need data on its performance during a full bull/bear cycle to assess its volatility and the subsequent risk of holding it.
Unfortunately, the crypto space is both nascent and fast-moving, meaning that few assets with enough historical data are eligible for consideration. This analysis will use a portfolio of Bitcoin, Ethereum, and Litecoin to demonstrate the best risk-adjusted returns as these assets have the highest market capitalization with the most historical data. Using these three assets, the approximate best allocation for maximizing risk-adjusted returns comes out at 65% Bitcoin, 35% Ethereum, and 0% Litecoin.
However, moving along the efficient frontier will display efficient portfolios with higher risk-adjusted returns. Generally, riskier portfolios on the frontier will substitute Bitcoin for Ethereum. Historical data indicates that Ethereum can generate higher returns than Bitcoin but is also more susceptible to large drawdowns, increasing its volatility and, therefore, the risk of holding it.
Source:Benjamin Cowen
Now we’ve examined how modern portfolio theory and the Sharpe Ratio can help us achieve the best risk-adjusted returns, let’s look at examples of low, medium, and high-risk portfolios.
Low-Risk
The lowest risk crypto portfolio with the highest returns follows the efficient frontier as described previously. Using current historical data, low-risk investors should allocate around 65% to Bitcoin and 35% to Ethereum to create the safest portfolio with the most upside potential. Investors wanting to increase their risk-adjusted returns can try allocating less to Bitcoin and more to Ethereum. At this point, all other crypto assets are either too risky or have similar risk profiles but worse historical returns than Bitcoin and Ethereum, such as Litecoin.
Medium-Risk
A medium-risk portfolio will still use the efficient frontier to maximize risk-adjusted returns but moves away from a high Bitcoin allocation. 10% Bitcoin, 89% Ethereum, and possibly 1% Litecoin would be one way to achieve a medium-risk portfolio. The high proportion of Ethereum will increase theoretical returns but also implied volatility. Additionally, a small allocation of Litecoin may help yield a higher return in the scenario where it experiences significant upward price divergence.
High-Risk
This is where things get interesting. As mentioned previously, when calculating lower-risk portfolios, we only want to use assets that have price data going back several years. However, there is still some merit to looking at the Sharpe ratios for newer crypto assets, as long as we understand that doing so exposes an investor to a lot more risk.
For a higher-risk portfolio, an investor can substitute an increasing amount of Ethereum for other crypto assets. To help identify candidates for a high-risk allocation, we can look at the one-year Sharpe ratios of other crypto assets and see how they compare to Bitcoin and Ethereum.
Source: Messari
When choosing riskier assets for a portfolio, anything with a Sharpe ratio higher than Bitcoin and Ethereum is a potential candidate. Within the top 10 crypto assets by market capitalization, Solana and Terra have ratios of 3.37 and 3.25, respectively, with Cardano coming in third at 2.85.
Because Solana, Terra, and Cardano have one-year Sharpe ratios higher than Ethereum, they could be good riskier assets to pick based purely on the historical data. However, it is important to note that other factors are important when deciding whether to invest in an asset. Things such as the project fundamentals, time since launch, and whether or not the asset price looks overextended should all be considered when choosing an investment.
Like before, a portfolio will become riskier but potentially yield higher returns the more Ethereum is substituted for these newer, riskier assets.
Whether you’re looking for the best low-risk allocation or willing to dive into some riskier bets, you’ll need to find somewhere to build your portfolio. This is wherePhemexcomes in. You can purchase all of the assets mentioned in this feature plus many more. Moreover, the platform’s low fees and excellent support services make for a great choice. For those not ready to jump in just yet, Phemex offers simulated crypto trading where users can learn and test different trading strategies, risk-free.
For more advanced users, Phemex offersperpetual contract tradingon all crypto assets and inverse perpetuals on Bitcoin. By depositing and trading on Phemex, users can earn up to $100 and receive additional fee discounts and bonuses by referring friends. For more information, check out the officialPhemex website.
Disclaimer: At the time of writing this feature, the author owned BTC, ETH, and several other cryptocurrencies. The information contained in this article is for educational purposes only and should not be considered investment advice.
This news was brought to you by Phemex, our preferred Derivatives Partner.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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It all started as an idea in a white paper by Satoshi Nakamoto, the computer programmer who invented Bitcoin in 2008. It was this event that opened the floodgates for other cypherpunks and innovators with similar ambitions that soon resulted in the advent of several different cryptocurrencies. A few of them were blatant rip-offs; some were joke coins, while others tried to innovate and extend Bitcoin’s capabilities in their respective versions of crypto.
A few choppy years, a few smoother ones, the cryptocurrency industry has had one tumultuous journey filled with unexpected turns. Fast forward to 2021, Bitcoin emerged as the best-performing asset of the last decade with its astonishing 9,000,000% rise that managed to grab intellectual curiosity.
There is more money in the cryptocurrency industry than ever before. In the early days of Bitcoin, however, things were very different. A few supporters of the space during that time weren’t really confident of its longevity. It has been over a decade since it first came into existence, and for the most part, the debate over the cryptocurrency market has remained polarized. This could be because of Bitcoin’s origin story, which has been shrouded with mystery.
Just like any other sector, this nascent industry, too, is riddled with myths and misleading information. And our society, which is dictated mainly by centralized norms, still finds it hard to trust this new financial system that opposes traditional and conventional money. It still has a long way to go.
Busting Myths
Several factors have impeded the growth and adoption of the realm. For one, not everyone has a solid understanding of how the space essentially works. The reality of digital currency is complicated, and there is no denying that. However, one of the biggest myths that have kept a considerable chunk of the populace away from the cryptocurrency industry is that it is primarily designed to be leveraged and invested in by people who have knowledge of technology.
This is entirely false. Anyone who wants to use or invest in digital assets can very well do so. The main objective of this space was to bring about decentralization and offering financial freedom. Hence, it is not only meant for the tech industry. Instead, it aims to disrupt inefficient centralized and archaic pillars of the existing financial system.
However, to delve deeper, only a basic knowledge of their use would not suffice. Users will have to do their research. While anyone can learn about it with just one click, the quantity of information available can sometimes be confusing. For many, it is a jungle of technical terms, trading slangs, funny phrases, and even entirely newly invented words.
Hence, it is crucial to filter out the noise and churn the truthful information about what they are, what they stand for, and their advantages. Phemex wants to change that with its newly launched Learn and Earn program.
Educating the Masses
Phemex, which happens to be a well-known global cryptocurrency exchange based out of Singapore, was launched in 2019 with the primary objective of building the most trustworthy platform in the world. In addition to several noteworthy milestones, Phemex has witnessed its user-base grow significantly over the last three years. Today it hosts over a million traders through its unique approach to user-requested features and community feedback.
Phemex recently launched an innovative program dubbed ‘Learn and Earn.’ This is essentially an educational program that allows users to earn while learning about cryptocurrency and blockchain technology.
The team behind Phemex has streamlined different concepts related to the industry into a detailed course framework, with intuitive lessons and interactive videos. Upon completion of each lesson, the users take a short quiz to test their knowledge. And if all the answers are correct, Phemex offers them a free reward via the Learn and Earn program.
Heralded as one of the most beginner-friendly programs, Learn and Earn understands that the complexities involved in the sector can become overwhelming at times. Hence, it aims to make the learning process fun. This new initiative is arranged into a few core courses, and each consists of its own set of sub-lessons. These further comprise introductory passages, explainer videos, and a final quiz.
Phemex plans to reward the users with trading bonuses that traders can avail of when using the exchange’s perpetual contracts as well as for cryptocurrencies. Hence, as the platform incentivizes the learning process, it also plays a vital role in spreading awareness about the technology and advancing adoption through facts and not conjectures. What better way to make the users immerse themselves in crypto education while giving it back to the crypto community?
Moving forward, Phemex also intends to roll out a more extensive course structure that would cover broader topics through the program, many of which will incentivize users directly in cryptocurrencies. However, to receive the rewards, users are required to complete KYC protocols. Currently, the Learn and Earn program is not available in every region. However, the team is working on making it more accessible to areas around the world.
Whether you’re a rookie trying to comprehend how Bitcoin works or a veteran looking to understand the intricacies involved in the industry that is often overlooked, Phemex has got you covered. For the first course, there will be three lessons – each worth $2. So if you complete the first course you’ll get a total of $6. You can find more information onPhemexand theirTwitter page.
If you ask anyone in the blockchain industry about pizza, they’re unlikely to hesitate before telling you about Laszlo Hanyecz. In May 2010, the Florida-based computer programmer announced that he wanted to purchase two pizzas for the price of 10,000 BTC. He said he didn’t care how it was done, just that he wanted to pay someone Bitcoin and receive pizza in return — no gift cards and certainly no fiat exchange.
Eleven years ago, the primary way for people to get their hands on Bitcoin was through direct trade – mostly involving discussions on forums or IRC channels. For generations, humans have searched for a solution to the woes of the financial services industry, so when Bitcoin showed up in the wake of the 2008 global financial crisis, people started to get more involved.
Laszlo had spent the equivalent of around $41 at the time, but as cryptocurrency exchanges started to pop up, Bitcoin’s value grew rapidly. Within three years, BTC climbed its way up to the $130 mark, making his purchase worth $1.3 million in 2013. Today, the value of 10,000 BTC stands above $450 million.
Despite knowing his holdings could one day become a fortune, the Bitcoin developer relentlessly spent assets worth over $4.5 billion today. It’s not that he didn’t realize what he was holding – it’s that he realized it wouldn’t be worth much at all if people couldn’t spend it.
Phemex, a cryptocurrency exchange headquartered in Singapore, recently announced it had gathered over a million users on the platform. Besides reporting a 156.9% growth in traders on the exchange over Q1 this year, Phemex also reported a 465.2% rise in trade volume compared to the first quarter of 2020.
The Singapore-based exchange has been continually improving the platform’s performance, adding new features, and enhancing its community feedback systems. To celebrate the upcoming Bitcoin Pizza Day on May 22, the exchange platform has created an opportunity for Mr. Hanyecz that’s even more mouth-watering than any Italian savory dish.
Cryptocurrency exchanges would never exist without Bitcoin, and Phemex wants to give back to the person who kickstarted its growth, as well as its community as a whole. Despite having spent a fortune worth of Bitcoin all those years ago, reports suggest Laszlo has no regrets or misconceptions regarding his actions. Hanyecz may be famous for his pizza purchases, but the Jacksonville-based programmer’s contributions to Bitcoin’s code aren’t just impressive – they were instrumental.
Prior to the Bitcoin Pizza Man’s embellishments to the network’s mining algorithm, people had no option but to use CPUs or computer processors to run their mining computations. After his proposal was incorporated, users were able to use the increased performance of their graphics cards or GPUs to mine Bitcoin. Though this may have created a sudden strain on the graphics card supply chain, it was certainly changing the game in more ways than one.
Soon, people were racing to build machines with more computational power than everyone else, competing against the network for a bigger slice of the pie. Laszlo’s contributions to Bitcoin are lauded by few and known by less, but that doesn’t make him any less important. So, as a way of saying thank you to the man that made the world’s first purchase with Bitcoin, Phemex has an interesting offer.
Phemex recently announced theirEarn Crypto platform– a lending service that allows traders to earn 10% APY on deposits of up to 1.5 million USDT. On May 22, Phemex is offering Laszlo the opportunity to deposit 10,000 BTC into its Earn Crypto platform – but this time he gets something back.
At those rates, Hanyecz would earn nearly $110,000 in a single day, but the platform is also open to the community. The team at Phemex is still trying to get the word out to the Bitcoin OG and is even offering rewards to community members that help spread the news.
Through its Gleam campaign, the crypto exchange is offering users all kinds of rewards for performing different tasks related to getting the word out there. According to a post on theBitcoinTalk forum threadwhere he originally conducted the trade, the only reason Hanyecz ever stopped buying pizza with BTC was that its popularity meant he was no longer able to mine thousands of tokens every day.
As the man who invented GPU mining, Laszlo was far ahead of the mining industry back in 2010, and by spending what was probably only a fraction of his wealth in Bitcoin, when itspricewas less than a dollar, he made the rest of it worth so much more. Give a man a pizza, and you feed him for a day. Give him Bitcoin to buy pizza with, and he’ll never go hungry again.
The Phemex Trader’s Arena BTC/USD trading competition is now open for registration. It will give away as much as 2 million USD in prizes and begins on March 24, 2020.
It offers traders an opportunity to trade in a competitive environment, and create big returns in the form of prizes. There is already significant interest in the event, and people are signing up to participate.
Like many competitions, the total amount that is given to the winners will be decided by how many participants sign up to the Phemex Trader’s Arena.
Here is how the prize amount will be determined:
Participants – Prize Amount in USD
200-499 – $10,000
500-999 – $25,000
1000-1999 – $75,000
2000-3999 – $150,000
4000-5999 – $400,000
6000-7999 – $600,000
8000-9999 – $1,000,000
10000-14999 – $1,250,000
15000-17999 – $1,875,000
18000-20000 – $2,000,000
Registration is open now, and anyone can keep an eye on the progress – or sign up for the competition right here. The traders will work in teams of at least 10, and each individual trader must have an account balance of 0.005 BTC to be eligible to compete.
The Phemex Trader’s Arena: What to Expect
The Phemex Trader’s Arena will begin on March 24, 2020, and run until April 7, 2020.
The results will then be calculated, and prizes will be awarded on April 13, 2020. There is a $10 bonus for the first 2,000 traders that register who also may gain unique Phemex merch, and team captains will all receive a $100 prize for team formation.
In addition, team captains will gain 40% of the total team prize and a maximum share of 50% of the trading fees.
According to Phemex:
Assuming the maximum prize pool of 2 million USD, the Captain of the Top Team that is also a TOP 10 Trader within his Team, and is the Top Individual Trader of the competition will win $375,000 USD.
Here is how prizes will be calculated, according to Phemex:
Team Award Formulas (ROI):
Calculation formula for Individual Return On Investment (ROI):
Individual PNL / (BTC Trading Account initial net balance + incoming transfers during the event + commission income during the event+ bonuses received during the event)
Calculation formula for Team Return On investment (ROI):
Take the average ROI of the top 10 team members
Calculation formula for Individual Profit and Loss (PNL):
BTC Trading account current net value (balance + unrealized PNL) – BTC trading account initial net value (balance + unrealized PNL) + outgoing transfers during the event – incoming transfers during the event – commission income during the event – bonuses received during the event
The Award Structure
The Phemex Trader’s Arena will offer rewards to both the top teams, and the top traders in the competition.
Here is how the reward structure will work:
Teams will receive 78% of the total final prize, and it will be distributed in this way:
1st Place Team: 25% of total prize pool
2nd Place Team: 15% of total prize pool
3rd Place Team: 8% of total prize pool
Teams ranking 4th to 10th place will share 30% of total prize pool evenly
Individual Traders will be awarded 22% of the total final prize, and it will be distributed in this way:
1st Place Individual: 8% of total prize pool
2nd Place Individual: 5% of total prize pool
3rd Place Individual: 2% of total prize pool Participants ranking
4th to 10th place will share 7% of total prize pool evenly
Phemex Trading Opportunities
The Phemex Trader’s Arena is a great way to compete in a BTC trading tournament on a top-tier exchange platform. The company also offers an incredible range of both spot and futures trading tools 24/7 for both new and experienced traders.
Phemex has created an exchange that helps new traders get up to speed with free demo trading. For experienced or professional traders, it offers excellent tools to facilitate institutional trading operations.
In addition to loads of token pairs and lightning-fast trade execution, Phemex also offers membership programs that allow high-volume trading at ultra-low prices. To learn more about the exchange, just click right here!
The cryptocurrency derivatives exchange Phemex is set to launch its new program on January 18th, which will allow users to generate passive income in two new ways with no risk.
The Singapore-based exchange has quickly raised in popularity, establishing itself as one of the dominant players in the crypto ecosystem since its foundation in 2019.
Earn With Phemex
In the announcement, Phemex explained that users will be able to take advantage of Flexible Savings Accounts with 7% annual percentage yield (APY) and Fixed Savings Accounts with 10% APY, a perfect way for long term holders to increase their returns.
At the time of launch, users will only be able to invest USDT but more cryptocurrencies will be added in the future as the exchange continues with its plans, which include the addition of more account options.
One of the most attractive aspects of this program is that users are guaranteed to obtain the estimated returns independently of the results of the exchange’s internal investment strategies, making the investment even more secure when combined with the elimination of volatility concerns by using the USDT stablecoin.
Different Types of Accounts for Different Types of Investors
Once the program is launched later in January, users interested in generating extra passive income will need to decide between the fixed and flexible saving accounts, each of them offering different benefits depending on their needs.
The Flexible Savings account provides a lower percentage of annual percentage yield at 7% but allows investors to transfer their crypto in and out of the account any time they wish to do so without incurring penalty fees.
Users who choose this type of account will receive interest daily and will generate compound interest if the funds are not withdrawn. While the maximum holding limit for both types of accounts is 50,000 USDT, the flexible saving accounts do not have a minimum deposit requirement.
The Fixed Savings account, on the other hand, requires a minimum deposit of 100 USDT to gain interest, with the funds then being locked for a 7-day period in which a 10% APY will be generated.
The 7-day lock period means that investors will have to commit to not being able to transfer their funds during that period, but is not clear yet if it will be possible to transfer them by incurring penalties.
Once the 7-day period is over, interests will be added to the balance and the fund will be unlocked if no auto-renewal option was activated. If a user wishes so, the option can be activated and the account will be enrolled in the next 7-day cycle automatically.
While these are the only 2 types of accounts at the time, Phemex is planning to expand its catalog in the future to provide its users with more options that better adjust to their needs.
What Makes Phemex’s Program Unique?
While similar interest programs are being offered by other major exchanges, it is rare for any of them to offer up to 10% in interest with no added risk. This is a benefit that is sure to play in Phemex favors when investors are considering having their funds generate passive income, especially in times of market turbulence.
However, it is important to keep in mind that the high APYs offered by these accounts also means that they could be reduced in the future, so it is important to review the latest information before opting for one of the two options.
Phemex is an exchange that has made a name for its user-first approach, continually working on creating new features and improving its design to provide users with a better experience. So keep an eye open for all details on the program once it is officially launched.
I just filled on a 10x leveraged $LINK long at 12.16 on @Phemex_official. Setup is shared in last tweet, but I did not want to buy after it had already bounced. Set my orders in case it came back down into demand, which is has.
Source: Messari
