BitMEX, a crypto trading platform owned by HDR Global Trading Limited, is announcing the long-awaited add-ons to its ecosystem, namely: Bitcoin EARN and CONVERT. As their names suggest, the products offer users new ways to earn and convert crypto, other than the crypto exchange and derivatives trading services present on BitMEX.
The first major product, BitMEX EARN, makes it easy, safe, and flexible to earn interest on crypto holdings. Its safety is cemented by the fact that it is backed by BitMEX’s insurance fund – one of the biggest of its kind in the industry. Users can subscribe to this product before Feb. 1, 2022, to get a chance to choose from two offerings.
The first, a 4% APR product, gives users up to 4% APR (annual percentage rate) on their Bitcoin. The minimum deposit is 0.001 XBT. This product matures on Mar. 25, 2022, and has a cap of 0.1 XBT per subscriber. With the second offering, a 6% APR product, users get to earn up to 6% APR on their Bitcoin – a very competitive rate in the market. The minimum deposit for this product is 1 XBT. The maturation date is the same as the first offering, with a capping of 25 XBT per subscriber. What’s more, high-volume traders on BitMEX who subscribe to this product will have the chance to make even better returns. More on the eligibility criteria for these products are provided on the BitMEX official website.
The second major product, BitMEX CONVERT, will allow users to quickly and efficiently convert their Bitcoin into the ERC-20 token Tether (USDT), and vice versa. The offering will be available to all users trading USDT-margined products on BitMEX. Even more, users don’t have to worry about slippage and other fees for this service. In the near future, BitMEX plans to add more conversion capabilities to this product.
BitMEX CEO Alexander Höptner noted:
“We’ve kicked off 2022 strong with the launch of Bitcoin EARN and CONVERT, which marks the start of many more product and business line launches to come. Our new Bitcoin EARN products offer our users a safe way to earn guaranteed returns amid the current market volatility. And with CONVERT, our users can conveniently convert their crypto with just a few clicks, so they can focus on trading.”