Matrixport Review – Earn Up to $55 as a New User
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Matrixport offers a centralized hub for a variety of crypto-related services.
The platform has attracted a lot of attention for its unique and innovative products – many of which enable you to generate high yields from your crypto investments. You can also use Matrixport to buy and sell crypto and even take out a loan.
In this Matrixport review, we take a closer look at how this platform works from top to bottom – with a strong focus on its core products, fees, security, supported coins, and more.
Table of Contents
What is Matrixport?
Founded in 2019, Matrixport is a one-stop cryptocurrency management platform. It is headquartered in Singapore and is emerging as one of Asia’s fastest-growing digital asset platforms.
In the span of two years, Matrixport has expanded into a global provider and serves customers in over 40 countries.
Matrixport provides a suite of innovative financial services in terms of products designed for both retail and professional investors. The platform is completely mobile-based and comes with an intuitive interface.
In a nutshell, Matrixport offers the following core products:
- Earn– Crypto savings accounts with high APY rates
- Loans – Instant crypto collateralized loans
- Invest – A range of innovative crypto investment products
- Buy – Purchase digital assets with bank transfers or credit cards
- Trade – 0% commission crypto trading
In addition to the above, Matrixport has also designed advanced financial services for institutional users.
As you can see, the platform offers a well-rounded set of products that are useful for cryptocurrency holders and traders of all shapes and sizes.
How to Get Started on Matrixport
In a nutshell, Matrixport is one of the best crypto apps that you can use to boost your earnings from digital assets.
Before we get to the features of Matrixport, let us give you a quick breakdown of how you can get started with this platform.
Step 1: Download the Matrixport App and Create an Account
As we noted earlier, Matrixport comes only as a mobile app.
You can visit the official website to find the download link that is compatible with your mobile phone and install it.
Once the app is ready, you can create your account using your email address or phone number. Alternatively, Matrixport also lets you directly connect to some of the best crypto wallets in the market – such as MetaMask.
Step 2: Complete Verification
There are three levels of KYC offered on Matrixport.
The type of investment products available to you will depend on your verification level.
- Level 1: Provide your complete address and a verification document – such as a utility bill issued within the prior three months, or a national ID card with your address
- Level 2: Upload a live selfie
- Level 3: Complete a video verification
Your verification level will also decide how much cryptocurrency you can withdraw per month.
Step 3: Start Investing With Matrixport
Most features on Matrixport are accessible from level 2 verification. Once you have completed this step, you can proceed to explore the app and make your investments.
Before investing any money, make sure to do your own due diligence and understand the risks involved. You can read our full guide to learn more about Matrixport and its different features.
Matrixport Supported Cryptocurrencies
One of the first things to consider when choosing a crypto investment platform is the number of supported assets.
Our Matrixport review found that this provider packs a well-diversified portfolio of digital assets and has designed a variety of products around them.
At the time of writing, Matrixport gives you access to around 65 cryptocurrencies. This includes some of the most popular digital coins in the crypto market – such as Bitcoin, Ethereum, and Litecoin as well as stablecoins like Tether and USD Coin.
You will also find plenty of DeFi tokens at Matrixport – including Solana, Compound, Aave, Wrapped BNB, Enjin, SushiSwap, and more.
Matrixport Products
Now that you have a general idea of what Matrixport is all about, let us take a deep dive into its core products and services.
Matrixport Welcome Offers
One of the attractive aspects of Matrixport is that it features promotional offers for new users from time to time. As of writing, the platform gives you a chance to earn up to $55.
- Upon signing up, Matrixport offers its users access to 1,288 USDC in free trial coupons. You can use this amount to invest in its fixed income or dual currency products.
- Once you invest in fixed income offers, you can earn up to $33 in staking income.
- You can also invite your friends to join the platform and earn $20 per eligible referral.
In the following sections, we explain how these features work so that you can take advantage of these welcome offers.
Matrixport Earn
Matrixport is certainly not the first platform to provide access to crypto interest accounts. However, it sets itself apart by presenting some of the highest interest rates available in the market.
In fact, Matrixport has created several products with different kinds of interest offerings and lock-in terms – which we explore in more detail below.
Fixed Income
Fixed income accounts offer an APY of up to 30% for stablecoins, 7% for altcoins, and 3% for Bitcoin and Ethereum. These come with a fixed lock-in period – varying between 8 to 180 days.
You have the option to choose a plan based on the annualized yield and the required minimum deposit you seek.
When you deposit your cryptocurrencies into a fixed income plan, Matrixport lends your funds to other users via loans, leverage products, and credit funding.
The platform assures that sufficient security measures are employed when lending out your assets – such as excess pledging of collateral and user verifications.
Flexi Saving
The flexi savings product does not have a lock-in period nor a required minimum deposit. Instead, the APY is dynamic – determined by an algorithm based on real-time demand.
The interest starts accumulating once you deposit your digital assets and will be settled on an hourly basis.
The main advantage of flexi savings plans is that you can withdraw your coins whenever you want. That said, the yield offered is less when compared to fixed income accounts. For instance, the highest APY you can get via a flexi plan is just 6%.
Smart Pool
Smart pool is a product that lets you conduct liquidity mining for DeFi tokens. Like flexi plans, these also allow you to withdraw your funds at any time and enjoy hourly compound interest.
Matrixport will handpick the DeFi projects into which your funds will be invested.
The list of DeFi projects used by Matrixport includes YFV, Curve, Compound, Aave, Swerve, and more.
The platform sells the respective mining proceeds on your behalf and the revenue will be added to your account in real-time.
DeFi Intelligence/Curve
DeFi Intelligence is a category of smart pool plans where Matrixport automatically invests your money into the highest-yielding DeFi projects. DeFi Curve plans are similar, however, in this scheme, your deposits will be invested into an AMM protocol instead.
In both plans, your stake will be divided into multiple investment cycles.
The default duration of each cycle is seven days but this is automatically adjusted by Matrixport based on market conditions or the availability of new projects. All you need to do is deposit your assets into a DeFi Intelligence plan and the yield will be credited to your account regularly.
Ethereum 2.0 Staking
For those unaware, Ethereum is in the process of shifting from a PoW mechanism to PoS. This opens up staking opportunities for those who hold Ethereum.
To help you benefit from this, Matrixport features a product that allows you to participate indirectly in ETH 2.0 staking via a DeFi contract.
That said, bear in mind the Ethereum 2.0 upgrade does not have a fixed time schedule. As such, you might be locking in your ETH tokens and the potential income from the investment for an unspecified timeframe.
While there are possibilities for early redemption, it isn’t clear when you will be able to withdraw your coins – therefore, this plan is best suited for long-term investors of Ethereum.
Matrixport Loans
Matrixport also lets you take out loans against your digital assets.
This feature is only supported for a limited number of cryptocurrencies – namely Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Filecoin, Tether, and USD Coin. As you can see, it isn’t possible to get a fiat currency loan against your cryptocurrencies.
There are two types of crypto loans available on this platform.
Collateralized Loan
Collateralized crypto loans can be taken out for a period of between seven days to six months. The interest rate you will need to pay will depend on the LTV you choose and the duration of the loan.
You can pay back the loan in advance, but the interest will be charged based on your borrowing period.
If you fail to make a repayment as scheduled, penalty interest will be charged on a daily basis. And if you are overdue for repayment, the collateral will be liquidated to close the loan.
Zero Cost Loan
As the name suggests, this type of loan requires no interest, and Matrixport bears the risk of the value of the collateral dropping.
However, you first need to understand how protection/take-profit prices work for these loans.
Let us suppose you want to take a zero cost USDT loan by pledging BTC as collateral.
There are three potential scenarios for how this loan can be closed:
- At the end of the term, if the BTC price is less than the protection price – then you need not repay the loan. Matrixport will close the loan by selling your collateral.
- If the price of BTC is more than the protection level, but less than the take-profit – then you repay the loan and recover the collateral.
- The third case happens if the price of BTC is greater than the take-profit level. In this scenario, your collateral will be sold at the take-profit level. After closing the loan, Matrixport will return the balance as equivalent stablecoins after deducting the repayment.
As you can see, there are several advantages to this scheme. However, you are also willing to forgo any opportunity cost if the value of Bitcoin increases past the take-profit point.
Moreover, you will not be able to repay the loan before the tenor ends.
Matrixport Invest
Matrixport offers a range of unique and innovative products that are designed to help you maximize your crypto investments.
Dual Currency
Dual currently is an investment product that comes with a floating return. Depending on how the market performs, the currency in which your funds are settled can and will vary.
For instance, let’s say you have chosen a dual currency product for BTC. With this investment product, you will receive your returns in BTC or USDC at expiry.
Every dual currency plan comes with a linked and settlement price.
- Suppose that the linked price is $30,000 and the yield is 10%.
- If the value of BTC rises at the expiration date of this product and the settlement price is above $30,000 – you will receive your principal amount + 10% yield in USDC.
- On the other hand, if the value of Bitcoin drops at the time of expiry, and the settlement price is below $30,000 – you receive your principal and 10% return in BTC.
In simple terms:
- If settlement price < linked price – you get your yield in USDC.
- If settlement price > linked price – you get your yield in BTC.
According to Matrixport, you can earn up to 80% APY via dual currency products. The main risk for this product comes with the volatility of the market.
Matrixport offers a variety of dual currency products with different crypto-pairs, tenors, and linked prices. However, bear in mind that you will not be able to receive your yield before the expiry date.
Range Sniper
This investment product enables you to earn higher returns when the price of Bitcoin moves within a specified range.
Like dual currency products, the final yield you receive will be paid in USDC or BTC – depending on the price of Bitcoin at the time of settlement.
Range snipers offer an APY of between 6% to 200%. The risk, once again, is tied to the volatility of the market.
Smart Trend
With the platform’s smart trend product, your money will be invested in multiple high-yielding DeFi projects.
At the time of writing – Matrixport offers this product for Bitcoin, Ethereum, Binance Cash, USDC, and USDT. Depending on how you think the value of your investment currency will move – you can choose between a bear or a bull product.
Matrixport then uses these cryptocurrencies to borrow stablecoins and put them into DeFi projects. The platforms used by Matrixport for this investment include Badger DAO, Bainbridge, Compound, Uniswap, etc.
Dip Hunter
Dip hunter is an auto-investment tool that decides the best time for you to buy BTC based on broader market conditions. However, this also functions as a dual currency product.
You will be investing in dip hunter in either USDC or USDT and receiving Bitcoin in return.
You can also choose the expiry date, linked price, as well as the discount you seek.
When the product expires, you will be able to buy Bitcoin at either the discounted settlement or linked price, depending on how they compare with each other.
Best-Buy Funds and Shark Fin
These two investment products also identify the best profitable opportunities to help you diversify your money. The returns you receive are variable, depending on wider market conditions.
Matrixport Buy
The standout feature of Matrixport is its diverse offering of high-yielding investment products.
However, the platform also allows you to buy cryptocurrency with fiat money. This feature is supported for over 20 fiat currencies – including USD, EUR, RUB, GBP, JYP, CAD, and AUD.
You can buy all supported cryptocurrencies via a bank transfer or a credit/debit card.
Credit/debit card transactions are processed instantly, whereas bank transfers can take longer, depending on your chosen fiat currency and the respective financial institution.
While Matrixport does not charge any fees for either method, you might have to cover the costs levied by third-party platforms that facilitate your transaction.
Matrixport Trade
Matrixport also features an exchange that lets you trade multiple cryptocurrencies. At the moment, only crypto-to-crypto pairs are available.
You can also access leverage of up to 5x. Experienced traders will appreciate that it is possible to go long and short. However, there is not much support for technical indicators or advanced analysis tools built into the exchange.
Matrixport Institutional
Matrixport caters to over 300 institutions across the globe by helping them manage their cryptocurrency investments.
It offers a range of customizable services such as:
- OTC trading
- Institutional custody
- Lending
- Fixed-income investment products
- Structured wealth management solutions
- Crypto derivatives trading via Bit.com
Institutions cannot use Matrixport directly by creating an account. Instead, you will have to contact the team directly to work out a solution that is tailored to your requirements.
Matrixport App
As we discussed, Matrixport is available only in the form of an app. Its application is compatible with both Android and iOS devices.
Within the app, you will notice that there are two different interfaces:
- Lite Version – This features the bare bone basis of the Matrixport platform. This is ideal for beginners in the cryptocurrency space to buy and stake digital assets. You can also access dual currency products if you have completed the required verification process.
- Pro Version – The pro version is a good fit for advanced investors. It features all the investment products offered by Matrixport, including detailed explanations of each.
You can easily switch between the two versions from within the app.
Matrixport Wallet
The Matrixport app also comes with an in-built wallet that you can use to store your digital assets. However, take note that this is a custodial wallet – and as such, the private keys are controlled by Matrixport.
What’s interesting about the Matrixport wallet is that there is an auto top-up option. When you switch this on, the cryptocurrencies you deposit will be automatically transferred to either a flexi savings scheme or a staking product.
These come with the flexibility of instant deposits, withdrawals, and hourly compound interest. According to Matrixport, automating your investment this way can increase your yield by 5.45%.
Matrixport Fees
As with every online investment platform, Matriport makes its money by charging fees for the services it offers.
Our Matrixport review found that the platform charges the following:
Fees to Buy Crypto
Matrixport does not charge any deposit fees to process bank transfers. However, you might have to pay fees to your banking service provider.
To buy crypto using your credit/debit card, Matrixport has partnered with Simplex – which charges a 3.5% fee for processing payments. This fee is implemented by Simplex as opposed to Matrixport.
Fees to Deposit/Withdraw Crypto
When depositing and withdrawing digital coins to and from your wallet, you will have to pay a fee to Matrixport.
This differs depending on the type of cryptocurrency. As an example, for Bitcoin, the deposit and withdrawal fee stands at 0.0005 BTC.
To find the fees applicable for other cryptocurrencies, check out the Matrisport website.
Trading Fees
Matrixport charges nothing in commission to trade cryptocurrencies on its platform.
Investment Fees
Matrixport charges a variety of service fees for processing and managing your investments.
In most cases, charges are built into the respective product, and the yield you receive will be after the deduction of fees.
With that said, Matrixport charges commissions for a few of its investment products, which are as follows:
- Flexi Savings – 5% of revenue
- Smart Pool – 10% of revenue
- DeFi Intelligence/Curve – 10% of revenue
Remember that commissions levied by Matrixport do not cover the network fees and any other costs that might incur when using third-party DeFi platforms.
Matrixport Membership Tiers
Matrixport has a membership program that lets you collect rewards every time you make a purchase on the platform.
There are five tiers, and depending on your level – you will be able to reap rewards such as free withdrawals, bonus yield coupons, and more.
As you move up the tiers, you will also be able to receive exclusive consultation on the platform and even receive customized products. Matrixport’s membership program is free to enter.
Matrixport Security
According to the Matrixport website, the platform has a Swiss INMA SRO-VQF membership and a Hong Kong Trust Company license in the name of its subsidiaries.
On top of this, Matrixport has also gone to great lengths to ensure the safety of the platform.
When installing the app, you will be asked to set up 2FA – via your email address or phone number. You can also enable biometric confirmation or assign a code for the app if needed.
While Matrixport has taken all the necessary steps to ensure the security of the platform, it is important to remember that some of the investment products offered require third-party access to your funds.
As such, you need to be extremely careful and understand how these products work before you part with your money.
Matrixport Customer Service
Matrixport has built a support center that gives you a layout of the platform and its different products.
You can find all the information you need about the platform’s services in this section. Matrixport also has several resources that let help you learn about the crypto market in general.
In terms of contacting the Matricport team – you have two ways to do so. You can either use the online chat feature or reach out by sending an email.
Matrixport User Experience
From our Matrixport review, you will have gathered that some of the products offered can be complex for beginners. And therefore, this can involve a slight learning curve in understanding how they work.
That being said, Matrixport has left no stone unturned in making sure that it explains everything in detail to its customers.
There are FAQs and guides that explain how each product is designed. Moreover, we noticed that Matrixport offers an excellent welcome email for new users.
This includes a user guide that explains how to set up your account, how to deposit cryptocurrencies, and the different ways you can contact the team for assistance.
The platform also features different promotional offers for new users – such as redeemable free trial coupons for its products. Overall, in terms of the user experience, Matrixport comes across as a platform that is suitable for investors of all skillsets.
Matrixport Review – Conclusion
This Matrixport review has discussed everything you need to know about the platform.
Put simply, Matrixport offers some of the highest-yielding crypto investment products available in the market.
Many of these products are innovative and are best suited for experienced investors who have a firm grasp of the ins and outs of the crypto markets.
As such, if you are looking to take advantage of Matrixport’s offerings, you should first learn about the products available before investing any money.
FAQs on MatrixPort
Is Matrixport regulated?
Is Matrixport available in the US?
Is Matrixport good for you?
How do you contact Matrixport?
Can you buy cryptocurrencies on Matrixport?
