We’re excited to announce that starting today, you can earn interest and rewards on your crypto holdings in just a few taps.
In an uncertain global economic environment with near zero interest rates, there are very few opportunities to generate yield on your hard-earned savings. Take for example the traditional savings account — the most popular investment vehicle for most people around the world. After a year of savings at your local bank, you’ll probably end up with a few dollars more than you started if you’re lucky.
There are of course higher-yielding investment opportunities than a traditional savings account, but they require a certain level of financial expertise. Very few opportunities exist for the majority of people who are just interested in a simple, passive way to earn income and grow their wealth.
This is the problem we’re solving with ZenGo Savings. Now, regardless of who or where you are, you can earn a very attractive yield from the comfort of your ZenGo wallet. It’s the easiest and safest way to earn passive income in crypto.
Here’s what makes ZenGo Savings interesting:
- High rates — Earn great returns that you simply can’t find in traditional finance.
- Stable assets — You can hold an interest-earning stablecoin pegged to the US dollar, removing the volatility of crypto while you earn.
- Compound earnings — Interest and rewards are automatically reinvested for you which means higher returns over time.
- No lock-up — Your assets are always liquid and accessible anytime. It’s like your checking account and your savings account had a baby ??
How Does It Work?
Savings is a combination of earning opportunities made possible by decentralized liquidity and borrowing pools, and proof of stake blockchains. You can earn in two ways:
- Providing liquidity via Compound to earn interest on several Ethereum-based assets.
- Staking via Figment Networks to earn rewards on Tezos.
Under the hood, providing liquidity and staking are technically different, but both provide our customers with an easy way to earn passive income, and that’s why we’ve combined them into one simple interface.
We currently support Tezos for staking, and DAI, USDC, and other Ethereum-based assets for providing liquidity. You can see the interest and rewards rates (APR) for each asset in the app.
Once you’ve selected which asset you’d like to start saving, simply choose what percent of your holdings you’d like to allocate and hit “Confirm”.
That’s it. No paperwork. No waiting in line. Just sit back and watch your portfolio grow!
If you’d like more details on how Savings works, please read this article.
You can also check out what TechCrunch had to say about ZenGo Savings here.
At ZenGo we’re on a mission to make crypto safe and simple. This is just the beginning. We will be adding more assets and ways to earn passive income in the coming weeks.
We’re also focused on enabling new ways of investing, giving people who don’t have access to traditional financial markets an opportunity to finally participate in wealth-building opportunities.
Welcome to delightful finance 🙂