So, what is the ChainEX earn portal and how can you as a trader benefit from it? The Earn Portal is a function provided by ChainEX that allows you as ChainEX users to stake and save cryptocurrencies.
By subscribing to an Earn Portal product, you are able to generate and earn interest on your cryptocurrencies instead of just holding them.
In layman's terms, the Earn Portal can be seen as having your own savings account on ChainEX. Now, instead of just holding your funds, you can subscribe to an Earn Portal product and earn interest on your funds. The longer you remain subscribed to an Earn portal Product, the more you will earn.
What are earn portal products and how do they work?
ChainEX Earn Portal products allow you as ChainEX traders & users to manage your cryptocurrencies more effectively. Instead of just holding your assets, you are able to subscribe to products by transferring portions of your holdings into Earn Products, which will generate you an interest.
The earn portal in action:
Each earn portal product consists of the following components:
- Coin - This is your chosen digital or cryptocurrency, for example, USDT
- Product - This is the product name, for example, USDT Earn
- Est.APY - This is the estimated Annual Percentage Yield, which means this is the estimated percentage of Interest you will receive at the end of the year, for example, 8.00%
- Duration - This is the length of time your investment will remain in the Earn Portal product, for example, Flexible, 30 days or 60 days
- Min Amount - This is the minimum amount required to subscribe to the particular product, for example, 1.00000000 USDT
- Compound Earning - This means earning interest upon interest, for example, if you turn the compound earnings on, any interest earned will be added to your subscription balance, therefore you will earn interest on your new subscription balance. Meaning if you chose to subscribe to the USDT Earn with 100 USDT and you turn on Compound Earnings, after the first day, your earnings will be estimated at 0.02191780 USDT. Therefore your new subscription balance will be 100.02191780 USDT and you will now earn interest on the 100.02191780 USDT instead of 100 USDT.
How do I use the Earn Portal?
Our YouTube channel consists of a load of how-to content. You can learn more about the Earn Portal and how to use it by watching our YouTube video
If you prefer reading instead, read on. So, there are two parts to how using the Earn Portal works. The first is finding your Earn Portal product and the second is subscribing to it.
How do you find an Earn Portal product?
You can identify Earn Portal products by the orange piggy bank icon next to a digital currency by navigating to your balances page or by clicking on the "Earn" tab on the ChainEX menu.
When clicking on the earn portal icon (the orange piggy bank), you will be navigated to the Earn Portal page. Here's how:
- Login to your ChainEX account then navigate to your balances page
- Identify the asset you want to subscribe to, for this example we're using USDT
- Once you've found it, click on the Earn Portal icon; the piggy bank icon on the far right
- You'll be presented with a list of available Earn Products, click on "Subscribe"
- Enter the amount you would like to stake
- Accept the T's & C's & decide whether or not you want to switch on compound earnings
- Click on subscribe and accept the high-risk pop up that follows
Currently, the only available asset for you to stake is USDT. We're working on adding other cryptocurrencies and altcoins like Bitcoin and Ethereum. Keep an eye on our social media and stay updated!
How to subscribe to an Earn Portal Product?
When subscribing to an earn portal, first, you will need to identify what digital or cryptocurrency you want to stake and click on the Earn Portal Icon.
On the Earn Portal page, identify which product you would like to subscribe to and click on Subscribe. Enter the amount you want to stake (take note of the minimum amount that is required to subscribe).
Next, you will need to accept the terms and conditions for the Earn Portal product. You can read the terms and conditions, over here.
If you wish, you can either leave compound earnings off or turn it on. Then click on Subscribe. Please note that No interest is accumulated on products subscribed to on the day of subscription. Interest is calculated the following day.
Can I unsubscribe from an Earn Portal Product?
Yes, you can. If you want to unsubscribe from a product, on the Earn Portal page, you will click on the unsubscribe button. On the unsubscribe page, under amount, you will enter the amount you wish to withdraw when unsubscribing.
Please note that you can only unsubscribe once you have started earning interest, which starts accumulating the next day & that if funds are withdrawn from the earn product within 7 days of subscription, a 0.3% fee will be charged.
Also, when you unsubscribe from a fixed-term product, like a 30 day or a 60-day product for example, before the end of the term, you will forfeit the interest generated and you will only receive your subscription amount back.
Further, when unsubscribing from products, the funds will only appear in your wallet the following day. Earning passive income with crypto in South Africa & abroad has never been easier with ChainEX. So often people want to trade crypto but don't have the skill or the time. The ChainEX earn portal gives you another income opportunity that requires you to simply know how to use ChainEX and what cryptocurrency you'd like to buy and Earn from.
What are you waiting for? Start trading!
Now you’ve learned about the ChainEX earn portal. So what’s next? Now you can earn your interest!
Invite a friend to ChainEX & earn more free cryptocurrencies! Plus you'll be partnering with what could potentially be the best cryptocurrency exchange in South Africa!
ChainEX is a South African cryptocurrency exchange that provides a platform for South Africans to buy, sell, or trade Bitcoin, Ethereum and a variety of other different cryptocurrencies using the South African rand as the default fiat-buying currency. And also the first South African crypto exchange to list Bitcoin Vault, YFI, SUSHI, LINK & UNI! The South African crypto market is growing by the day!
ChainEX provides you with a secure, online platform from which you can purchase and trade with different cryptocurrencies.
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