Recently, Crypto.com launched two key products – Crypto earn and Crypto credit, that provides users more freedom to manage their finances.
At present, the key product Crypto earn is now open to our users in Singapore. Additionally, it also has new features to empower customers and manage their crypto assets in a better way.
Crypto Earn adds Flexible term option for users to enjoy complete flexibility and earn 4% p.a.on their digital assets.
Apart from BTC, PAX, and TUSD, users now have the option to deposit ETH, LTC, and XRP into Crypto Earn and start accruing interest. The interest will pay out in the same currency as your deposit currency. Moreover, you will never lose a day of growing your crypto assets as your fixed term deposits will automatically convert to a flexible term when the fixed term ends.
Another key product crypto credit introduced Collateral Health and margin call.
In Collateral Health once you deposit your crypto (BTC) as collateral to instantly secure a loan, you can now monitor the state of your collateral health. further, Collateral Health indicates whether your collateral is at risk of being liquidated, based on your current Loan-to-Value (LTV) ratio.
In Margin Call, If your Collateral Health reaches the poor or critical threshold, Crypto.com will trigger a Margin Call, notifying you to rebalance your loan by:
a) Depositing additional collateral (Top-up your collateral)
b) Making a repayment
At present, App update is available for iOS (version 3.23) and Android (version 3.23.1). Users must run the App in the latest version for the feature updates.