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AAB Plus Explained: Earning interest on Crypto

AAB Plus Explained: Earning interest on Crypto

Explainers AAX

21 Aug 2020

Have you ever wondered if you could earn interest on the crypto you hold on AAX?

In this article, we explore AAB Plus, a savings service by AAX, that gives users access to a lucrative passive income opportunity.

What is AAB Plus?

AAX Exchange offers users the ability to earn interest through the AAB Plus savings service. AAB Plus savings is an interest-earning service that allows users to generate passive income with their AAB tokens.

The program rewards users daily at a fixed and flexible rate. AAB Plus has a fixed rate of at least 4.5% payout per year.

Further, you can benefit from the hybrid rate model that adapts to the changes in the cryptocurrency market. Dynamic AAB rewards are then paid to users to cushion the effects of the markets, which can be very brutal.

The program makes up for a drop in AAB's value by making higher payouts in AAB rewards. This feature makes it a good hedge against volatility for users who want to hold their crypto for long.

How Can You Subscribe To AAB Plus?

AAB Plus requires a minimum balance of 100 AAB. To get started with AAB Plus, click on Vaults at the top menu of the AAX interface to access AAB Plus.

In our recent explainer on what AAB is, we purchased 104 AAB. We will use the AAB we bought to join the AAB Plus savings service.

Click on the ‘Allocate Now’ button to add your AAB to your AAB Plus savings. You will be prompted to move an amount equal to or greater than 100 AAB from your spot wallet to your vault balance. After completing this step, you have now joined the AAB Plus savings service.

The first reward from your AAB Plus savings will arrive the next day. Another important flexible feature is that you are free to withdraw your AAB from the vault at any time with no fees.

Users will have to complete KYC Level 1 to have access to AAB Plus. KYC Level 1 involves providing a valid identity card and a proof of address.

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