AAX, The First Exchange to Enable wETH Deposits, Offers Up to 60% APY on Savings

By Stan Peterson
December 14, 2021 Updated December 16, 2021

Crypto exchanges nowadays offer a wide range of services. However, reaping all of the benefits out of the crypto sector is a challenge that has only been achieved by a handful of crypto platforms. The emergence of new blockchains and cryptocurrencies provide the crypto sector with a much-needed push into mass adoption. Currently, thanks to the rise in innovation of the crypto industry, investors are able to transact with low handling fees and fast settlements.

AAX Is The First Exchange to Support wETH Direct Deposits

Founded in 2018, one of the most unique features of AAX exchange is that users can directly deposit Wrapped Ethereum (wETH). Wrapping a token means users can utilize tokenized versions of the original crypto asset. A wrapped token is therefore pegged to the original digital asset itself, which gives it a sort of stablecoin functionality. Wrapped Ethereum was developed to increase interoperability between blockchains and to make Ether usable in decentralized applications (dApps).

AAX leverages wETH to give Ethereum miners a low-cost and real-time settlement option, which is wonderful news to all miners. Miners are often given two options to receive their earnings – they can cash out their rewards in ERC-20 tokens or in wETH.

The key advantage of using wETH on the Polygon network is that the transaction fee is very small, namely over 100x times smaller than the fee that users have to cover on the Ethereum blockchain. Also, there is no need for KYC completion if users are making crypto withdrawals between 20 USD and 2 BTC in value.

AAX puts all thеse benefits together and offers a comprehensive all-in-one ecosystem for token conversion and options, which generate an even greater yield for users when they subscribe to AAX’s Savings feature.

Crypto Savings with 60% APY

The AAX Savings feature is perfect for miners and investors since they can put their funds to good use and earn through hodling. Users can easily gain a competitive APY yield by simply transferring their funds to the AAX Savings account and subscribing to the digital asset of their choice.

AAX offers a wide range of saving products with up to 60% APY. For instance, a 7-day fixed deposit on Bitcoin, Ethereum, USDT, and USDC would yield a 60% return rate. However, AAX also offers flexible savings, which means that users can top up and withdraw their funds whenever they want, with no strict time constraints, no fees, and no fund lockups.

In addition to this, the AAX Defi Staking platform allows users to stake and gain an incredibly huge return of up to 80% APY on their staked DeFi assets. The staking format is conducted on a first-come, first-served basis with daily payouts.

AAX exchange, which is leveraged by over two million users worldwide, also incorporates some of the best tools and features available in the crypto industry. As the first cryptocurrency exchange to be powered by LSEG technology, the LSEG matching engine technology grants AAX users access to institutional-grade trading features.

AAX also supports Futures trading, offering tools like perpetual contracts for Bitcoin, Ethereum, Litecoin, Ripple (XRP), and EOS. These cryptocurrencies can all be traded with high leverage on both mobile and desktop applications.

Purchasing crypto on AAX is quick and easy as P2P and external payment provider gateways are enabled on the platform. More than 20+ fiat currencies are supported and over 100+ cryptocurrencies are available for trade on AAX. Some of the payment methods available to users are credit cards, debit cards, bank transfers, Apple Pay, and Google Pay, to name a few. For those who are serious about trading, AAX has its own dedicated OTC.

AAX is constantly pushing the boundaries of crypto trading. For example, its BuyCrypto campaign offers users the chance to buy cryptocurrencies and earn great rewards in USDT, BTC, and even AAB, the exchange’s native token. Additionally, users also have the opportunity of winning cool tech gadgets and lifestyle items such as premium watches, accessories, and portable computers. All users need to do to participate in the campaign is to buy cryptocurrencies through AAX and draw a card. Collecting five keys will grant investors the chance to win premium prizes.

The team at AAX is also actively working on releasing more campaigns for their users, so be on the lookout for upcoming promotions, and be sure to not miss out on the chance to earn, save, and trade on AAX.

Join the race and get the best out of the crypto sector today by entering into the marvelous world of trading.

Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.