Matrixport Review – Earn Interest On Your Crypto

What Is Matrixport?

Launched in 2019 by experienced crypto innovators and Bitmain co-founders Jihan Wu and Ge Yuesheng, Matrixport is a crypto-financial services provider headquartered in Singapore. Matrixport is the one-stop solution for crypto investors and crypto enthusiasts looking for the most complete DeFi platform.

Matrixport started as a crypto exchange, but now it offers so much more: from Dual-Currency Products to diverse investment options, including their Flexi Saving platform, which allows users to collaborate in liquidity pools and earn rewards; Smart Pool Investing, which automatically invests in some innovative DeFi projects and pays you interests; to Over-the-Counter Trading, for institutions – and those are just some of the options investors have. It supports tens of services for saving, investing, and trading.

Matrixport has over $10 billion in assets under management and averages $5 billion in trading volume, per month. During its initial stages, it raised over $129 million from various investors, including some of the largest venture capital firms in Asia: China-based DST Global, Hong Kong-based C Ventures, and Singapore-based K3 Ventures.

Features Of Matrixport

#1 Dual Currency Products

Dual Currency Investment (DCI) products are one of Matrixport’s most sought-after features and for good reason. These high-yielding investment products can be very profitable for knowledgeable investors. 

Despite being ‘purchased,' DCI products are more like loans – after a lock-in period, you get the principal back, plus interests in the form of yield. All DCI purchases are paid in Bitcoin (BTC), and all the details like the Linked Price, yield, and period are specified from the beginning. In general, products with higher annualized yields and lower Linked Price – are slightly riskier than their lower-yielding counterparts. Terms can be as short as a day.

What is the Linked Price? This is where the Dual Currency part of the investment steps in. When you purchase a DCI there’s an associated Linked Price. This price determines how you get paid when the product – or loan – reaches maturity. 

If at the end of the term the price of Bitcoin is below the Linked Price, you will get paid the principal and the yield in BTC. If the price is above the Linked Price, you get paid in USDC. In general, this is a good way to hedge against currency fluctuations – if the price of BTC is low at maturity, you may want to hold on to it and wait for it to go up; if instead, the price of BTC is high you may want to invest your stablecoins/fiat somewhere else. Annualized yield will depend on the specific DCI, but you can expect a rate anywhere from 15% to 200%.

#2 DeFi Intelligence

Matrixport users can choose to invest their assets in select high-yielding DeFi projects and initiatives, all from the DeFi Intelligence dashboard. This DeFi product comes with a flexible redemption option, no lock-in periods, and a very attractive APY. 

DeFi Intelligence embraces innovation and change, and it readjusts weekly based on the market environment – the goal is always to maximize yield for its users. This readjustment involves reallocating your deposits into different, more promising DeFi projects and initiatives or, if the DeFi project is already launched, into new ones.

DeFi Intelligence is a very safe investment and yields substantial returns; you can expect very stable yields ranging from 5% to 30% APY, paid weekly. Invest-grade DeFi projects are selected using Matrixport’s strict High-Yielding DeFi protocol.

#3 Fixed-Income Products

DeFi Intelligence is not the only way to invest in fixed-income products. For those that want to know exactly where their money is going, there are three options to choose from: there is Curve, an Automated Market Maker (AMM) and stablecoin exchange protocol that offers low slippage and low transaction fees; Compound, an algorithmic, Ethereum-based lending protocol; or Aave, a lending pool-based liquidity protocol.

By investing in any of these projects you can earn from 5-25% APY, and since all these are very established projects there is virtually no risk associated.

#4 Flexi Saving

Through Flexi Saving, Matrixport users can now participate and contribute to liquidity pools and earn interests – compounded hourly – on their deposits. This is how it works: Users who have any of the supported cryptocurrencies can choose to deposit their assets in liquidity pools – while maintaining full flexibility; Users can withdraw their assets at any time. 

Interest earned by contributors is adjusted dynamically, which means that based on the demand of the particular asset the rates can go up or down. Usually, stablecoins have the highest interests per year, going as high as 30% APY.

For the first month, users get to keep 100% of their earnings. From the second month onwards, Matrixport charges a 5% network and services fee for handling your assets; this is 5% of the amount you earn, not 5% of the amount you deposited.

Users can check real-time information about rates, total supply, APY, flow-balance rate, and the historical performance of individual assets, to make a more informed decision.

#5 Smart Pool Investing

Matrixport’s Smart Pool is very similar to Flexi Saving in that they both pay out interests – the main difference is that Smart Pool redirects your funds to be used in liquidity mining, which works by staking your crypto, gaining mining rights, and paying you dividends. Alternatively, part of all of your funds may be invested in hand-picked, high-yielding DeFi projects like Swerve.Fi (SWRV), Curve.Fi (CRV), and YFValue.Finance (YFC). 

Interest rates are usually higher than Flexi Saving, some going as high as 50% APY. The service and handling fees are higher than Flexi and set at 10% of what you earn – not what you deposit.

#6 Helpful Customer Support

Matrixport offers customer support via email and live chat, and they have a strong social media presence on all major platforms, including Twitter, Telegram, and Facebook. Customer support reps are very responsive and they’re actually helpful rather than just following a script. You can reach out to them through:

• Email: [email protected]
• Live Chat: Available 24/7 on their webpage

Helpful customer support is paramount in the crypto industry but sadly, it's not always available. For example, I've had horrible experiences with Wealthsimple Crypto's customer support, which is the main reason I don't recommend it to Canadian investors. On the other hand, crypto exchanges like VirgoCX, Bitbuy and CoinSmart treat their customers with the care they deserve, and the same can be said about Matrixport.

Pros & Cons Of Matrixport

Pros

• Low-Interest Collateralized Loans: Loans backed by crypto are approved instantly and Matrixport offers up to 100% LTV ratio on all loans.
• Access To Many Investing Platforms: Users can choose from Flex Savings, Smart Pool, Fixed Income, and many other investments.
• Bank-Level Security: Your personal and financial information is secured through FIPS 140-2 Level 3+ HSM encryption protocol.
• All Assets, Secured: Crypto assets are stored in Cactus Custody’s cold storage vaults and secured with multi-signature protocols.
• Low Fees And Zero Commissions: Matrixport doesn’t charge fees or commissions for using its trading platform – you only pay for the network fees.
• OTC Services For Institutions: High net-worth individuals and institutions can now invest in large amounts of crypto with ease.
• 100% Online Signing Process: Signing up with Matrixport is completely online and you can start trading in less than 5 minutes.
• App Available On Mobile: Matrixport’s app is available for Android and iOS devices and supports all features.
• Helpful Customer Support: Customer support is available via email and live chat 24/7, 7 days a week.

Cons

• Crypto assets aren’t insured
• Customer support is not available over the phone
• Limited coin offering
• Not available in the US, Canada, or China

Matrixport Pricing

Trading Fees & Spreads

Matrixport doesn’t charge commission fees for spot trading or spreads, and investors can leverage up to 5x their trades.

• Trading Fees: Free
• Spread: 0%

Deposit & Withdrawal Fees

Here are Matrixport’s deposit fees. Keep in mind your bank may charge handling fees:

• Deposit Fees (SEPA, ABA Number, Iban): Free
• Deposit Fees (Swift): Free (your bank may charge you from $30 to$50
• Deposit Fees (Crypto): Free 

Here are Matrixport’s withdrawal fees:

• Withdrawal Fees (Fiat): $30, applies to all withdrawal methods
• Withdrawal Fees (Crypto): Depends on the crypto (0.0005BTC for Bitcoin)

Sign-Up Process

#1 Visit Matrixport’s webpage.

#2 Click the Sign-Up button.

#3 Fill in some of your basic information.

#4 Complete KYC verification. You will need to complete Lvl. 2 Verification to start trading.

Referral Code & Bonus

New users signing up using our referral link will receive:

• A 15% annualised interest rate when you enter a 30-day Fixed Income product (worth up to 35 USD)
• When you enter the 15% exclusive Fixed Income product and complete your identity verification, you unlock a $15 USD cash bonus
• A free 1,288 USDC Fixed Income and Dual Currency Investment Experience Bonus

The 1,288 USDC Free Trial bonus can be used to earn additional revenue from Fixed Income products. Keep in mind that the bonus will reach maturity after 2 days—afterwards the coupon will settle and Matrixport will take back the 1,288 USDC—but you get to keep all the revenue it made for those 2 days.

In Summary

Matrixport is a crypto-financial services provider and one-stop solution for all types of crypto investors. Based in Singapore, Matrixport is supported in most countries around the world and provides an easy way for investors to access diverse crypto-financial services, including crypto saving, investing, trading, and more. 

Matrixport supports 32 fiat currencies plus 9 cryptocurrencies and doesn’t charge any commission or fees for trading. If you're an institution looking for OTC trading services or an individual looking for interest-free loans and a very attractive referral bonus we can't recommend Matrixport enough.

Matrixport FAQs

What Are The Supported Fiat Currencies?

Matrixport supports a total of 32 fiat currencies: USD, EUR, GBP, CAD, AED, AUD, BGN, BRL, CAD, CHF, CZK, DKK, HKD, HUF, ILS, INR, JPY, KRW, MAD, MXN, MYR, NGN, NOK, NZD, PLN, PLN, RON, RUB, SEK, TRY, TWD, UAH, ZAR. This is far beyond what other platforms like Kraken offer.

Users can deposit any of the supported fiat currencies to purchase crypto. The minimum deposit is $50 and the maximum is $20,000 USD.

What Are The Supported Cryptocurrencies?

Matrixport supports 9 of the largest cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT),  Ripple (XRP), and Dash (DASH).

How Do I Withdraw/Deposit Fiat?

Matrixport supports fiat withdrawals and deposits from many banking networks, including SWIFT, SEPA, IBAN, and ABA number,  among many other local banking options.

To deposit fiat:

1. Log in through the website or the app
2. Click the Wire Transfer tab
3. Select your bank (add one if you haven’t already)
4. Choose an amount

To withdraw fiat:

1. Log in through the website or the app
2. Click the Wire Transfer tab
3. Click Withdraw and select an amount
4. Select your bank (add one if you haven’t already)
5. Choose an amount

Deposits and withdrawals take from 1 to 5 business days.

How Do I Withdraw/Deposit Crypto?

To withdraw your crypto you need to have set up a Fund Password after linking any of your email, phone number, or Google Authenticator. After you have created your Fund Password, follow the steps:

To withdraw crypto:

1. Log in through the website or the app
2. Click the Wallet tab
3. Click Withdraw and select an amount of crypto
4. Enter the Receiver’s Address
5. Confirm the code sent to your email, phone, or Google Authenticator 

To deposit crypto:

1. Log in to through the website or the app
2. Click the Wallet tab
3. Click Deposit and select a crypto
4. Copy the Wallet Address provided
5. Deposit your crypto to that address

Transfers to other Matrixport wallets are approved instantly. Make sure you send the correct crypto to the address provided – if you send Bitcoin (BTC) or other cryptos to the wrong wallet address (for example a Litecoin (LTC) wallet), you will lose your assets.

Is Matrixport Available In My Country?

Matrixport is available in most countries, but due to compliance and regulatory requirements it is not available in the following countries:

• In Asia, Matrixport is not available in Mainland China, Japan, Singapore, Japan, or Syria.
• In America, Matrixport is not available in Canada, the United States, American Samoa, Cuba, Puerto Rico, Guam, or The Northern Mariana Islands.
• Lastly, in Europe Matrixport is not available in Crimea or Sevastopol.

What Happens If The LTV Ratio Of My Loan Increases?

Matrixport will warn you when the price of your collateral falls – you will have some time to deposit more collateral to reduce your LTV. If you fail to decrease your LTV within a reasonable timeframe, Matrixport will liquidate your position as a last resort to reduce your LTV to safe levels.

How Much Does Matrixport Cost?

Matrixport doesn’t charge commission fees or spreads. Most fees come from deposit and withdrawal fees from your external bank.

Is Matrixport Safe?

Yes, Matrixport is safe. Matrixport stores generated private keys in FIPS 140-2 Level 3+ HSM, uses a multi-signature protocol in geo-diversified data centers, and follows ISO27001 and S-SDLC bank-level security mechanisms.

Is Matrixport Legit? 

Yes, Matrixport is legit. Matrixport is one of the fastest growing DeFi platforms with over $10 billion in assets under management (AUM) and in custody. Matrixport averages a monthly trading volume of $5 billion.