The Phemex Savings Accounts are interest-generating accounts that allow multiple types of cryptocurrency deposits. Each supported coin option comes with different estimated APY rates depending on the duration of the deposit or subscription.
Fixed Savings Accounts
Phemex’s Fixed Savings accounts allow users to earn higher interest rates on cryptos invested for a specified period of time. Users can subscribe to fixed periods such as of 7 or 14 days for higher and more stable APYs. Redeeming funds before a fixed period’s conclusion will void the higher interest rates. Instead, funds will automatically be placed into a Flexible Savings account to earn the flexible interest rate.
Flexible Savings Accounts
Phemex’s Flexible Savings accounts allow users to earn interest on cryptos without any long-term commitments. Users can enjoy a strong rate of return while funds are held in accounts with the ability to deposit more or withdraw at any time. All earnings automatically compound for ever-increasing yields.
To learn more about Savings Accounts calculations and safety measures, please visit the FAQ section at the bottom of the Phemex Savings Page.
For a step-by-step guide on to use these products, please read “How do I Earn Crypto with Phemex’s Savings Accounts?”