Bengaluru-based crypto startup WeTrade has launched ‘WeSave’, a feature that provides users an opportunity to save and avail fixed interest on their stable cryptocurrency investments. The company said that users can earn interest up to 14% per annum which is daily, TDS free and there is no lock-in period.
“Through WeSave, users start earning interest as soon as they buy USDT through the platform, based on the average USDT balance for that day, which is deposited into their portfolio daily. No lock-in Users can withdraw their investments as per their convenience as there is no tenure. Also, no TDS is applicable on the interest earned and users also get cashback at the point of sale to cover the TDS charges. As of now, users can avail 14% for the first two months and 12% for the latter.” crypto startup said in a release.
Commenting on the announcement, Prashant Kumar, Founder and CEO, WeTrade said, “The new WeSave feature is a definite difference to the platform. This is a first of its kind feature that will provide users with the opportunity to earn interest on their stable crypto investments. Our endeavor has always been to provide the best returns, most user-friendly onboarding experience and industry-first rewards, while maintaining the highest level of security to ensure that customer assets are safe and secure.”
WeTrade was founded in 2022 by Prashant Kumar, a technology giant who led the engineering for Flipkart Wholesale. The company has appointed former Flipkart CTO Ravi Garikipati to its board of directors.
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