4 out of 5 stars
Matrixport is an incredible all-in-one crypto platform that provides several ways to earn from your cryptos.
Matrixport is a crypto assets services platform with its headquarters in Singapore. It provides its users with all forms of crypto-related services, covering buying/selling crypto, crypto loans, earning interest from idle assets and structured financial products with crypto.
Matrixport was founded in 2019 by Jihan Wu, the co-founder of Bitmain. After 3 years of growth, this Singapore crypto platform has become a Credit Suisse assessed Fintech unicorn valued at over US $1 billion and Asia's fastest-growing digital asset management platform.
This Matrixport review discusses whether or not investing, and trading in Matrixport is worth your time and how Matrixport compares to other crypto platforms.
Features and Services
Depending on your OS, you can download the Matrixport app from either Google Play or the App Store.
The app is easy to use and provides two types of UI: Lite and Pro. The Lite version offers a simple interface to help new users navigate the basic features, while the Pro version offers the bulk of the features that Matrixport offers.
You can toggle between the two modes depending on your needs and whether you are a new user or a crypto veteran. Matrixport's user-friendly application provides all the necessary services you may need to embark on your crypto journey.
Dual Currency is the first of the many features offered by Matrixport. It’s the first dual currency product in the whole crypto industry, ahead of other platforms like Binance. Dual Currency is a short-term investment that allows you to earn interest regardless of the swings in the crypto market.
If you were to buy a cryptocurrency, say BTC, the chances are that the market would experience some fluctuations during the investment period. With the Dual Currency product, you will choose your preferred strike price, APY, and product tenor. Invest with USDC, and earn interest as it is either converted to BTC at the price and rate you chose previously, or earn USDC at a high APY. It’ll depend on the settlement price at expiry compared to your strike price.
You can also invest in BTC to get higher interest or a better selling price. Consider this scenario: You purchased a certain amount of Bitcoin and invested it for a month. If, at the time of yield payment, Bitcoin tanks, you'll receive your interest in Bitcoin and can hold on until the market rises again.
But, if the price of Bitcoin shoots up, you'll earn your yield in USDC. The linked price serves as the benchmark and ensures that your earnings won't decrease in case of sudden market swings. The Dual Currency product offers security by paying you in either of the two currencies in case losses occur in the crypto market.
Minimum investment: 80 USDC/USDT
Smart Trend allows investors to earn more income by selecting DeFi mining projects and mixing them with some call options to strike the right balance between gains and risks. It allows you to earn yield by betting on the movement of the crypto market.
There are two types of Smart Trend investments: Smart Bull and Smart Bear, depending on where the market lies. BTC, ETH, and BCH are supported.
There is plenty of profit to be made from Smart Trend, so you can go for either one after researching the financial models, seeking investment advice, and coming up with your predictions.
Minimum investment: 50 USDC/USDT
Best Buy Funds
Best Buy Funds are a collection of funds handpicked by Matrixport's research teams that provide consistent interest during the investment period.
Compared to the other features, you need to allocate your funds carefully as there is a minimum storage requirement.
This can lead to a few risks, such as losing your funds if the market doesn't move according to your predictions. So, you should research accordingly before investing in Best Buy Funds.
Minimum investment: subject to change. For example, 1 BTC/40000 USDT
Range Sniper is like Dual Currency, wherein you'll benefit from your settlement without worrying about market swings. Range Sniper, however, provides a minimum APY of 10-20% on your USDC investment and can reach a maximum of 200% APY depending on the price movement.
The way Ranger Sniper works is that if the settlement price of Bitcoin is out of the specified range, you'll gain a minimum of 10-20% APY. Your investment will be settled in USDC if the settlement price exceeds the range, and in BTC if the settlement price falls below the range. But, if the settlement price is within the range, you can earn a maximum of 200% APY in USDC.
This way, you can assess the market situation to turn the tides of crypto interest in your favor.
Matrixport’s Auto-Invest feature allows new users to effortlessly invest in crypto. It utilizes dollar cost averaging to even out your investments, and lower the risks posed by the volatile crypto market.
Users are free to choose between BTC/ETH, and can set the time interval of investment along with dollar limits. DCA Auto-Invest also does not charge any service fee from the users, which makes it an attractive instrument for beginners.
Matrixport offers tons of ways to increase your yields and provides a maximum of 30% APY on your cryptos. It allows you to invest at your own pace with various investment options, instruments, and projects.
The fixed-income investment is excellent if you don't mind risking your assets to earn high APY rates after a lock-in period. Matrixport provides a fixed yield on your cryptos, and the fixed income service lets your idle assets work to generate a passive income.
Matrixport's current interest rates are 30% APY returns on USDC and USDT for newcomers, with a max. investment of $5,000. Besides that, users can always enjoy a 7%–8.25% APY return on their unlimited investment in 60–240 days of saving. Up to 6.25% yield rate on ETH and up to 5% on BTC.
Once you lock your cryptos in Fixed Income investment, you will not be able to withdraw them anytime soon and will have to wait for the expiry date to access them.
The Flexi Saving feature is the opposite of Fixed Income; you can withdraw your cryptos whenever you see fit at the cost of reduced interest rates.
Flexi Savings acts as a basic savings account that provides less risk of losing your cryptos in case of rapid fluctuations in the market by allowing you to withdraw them anytime you wish. The current interest rates with Flexi Saving are 2.21% on USDC/USDT, 1.94% on BTC, and up to 2.58% on altcoins.
The best feature of Flexi Saving is that it allows you to assess how the market is going before making the next investment decision. The interest is compounded hourly, and you can deposit and withdraw your assets at any time.
DeFi projects are third-party investment plans that you can use to earn varying interest rates depending on the project you put your cryptos in.
By using DeFi smart pools, you can invest in crypto mining without dealing with the hassle of setting up your rigs. Instead of requiring high-end hardware, infrastructure, and power, with DeFi smart pools, you only need crypto holdings to start investing in mining, thus saving you plenty of elbow grease.
Just like Flexi Saving, DeFi smart pool gives you the benefit of instant withdrawal, along with hourly compounded interest. What makes it different is the higher APY with an upper cap in case of DeFi smart pool. Hence, users are encouraged to invite more users to increase their limit.
Other fixed-term investments include Curve, a low transaction fees currency exchange service that follows the AMM protocol, and Compound, which allows you to borrow loans or earn interest by supplying your cryptos.
Adding cryptos to your wallet is the next step after downloading and setting up the Matrixport app. You can either transfer funds from another wallet or start buying cryptos to build your portfolio from the ground up.
Matrixport allows you to connect the following wallets to its app:
- Trust Wallet
If you wish to deposit cryptos, you can use the wire transfer facility to buy cryptos straight from your bank account after completing Level 2 of the Identity Verification process.
Matrixport also provides the option to trade the fiat currency of your choice for cryptos using the quick buy feature. You can also buy cryptos using your Credit and Debit cards.
Apart from investing in your cryptos, Matrixport allows you to earn a steady income by trading. Matrixport offers multi-currency support and allows investors to earn interest on BTC, USDC, and USDT.
The most basic of all trading tools, spot trading, allows you to buy cryptos instantly on a specified date. Matrixport offers zero commission spot trading to give newcomers a chance to dip their feet into the waters of crypto trading. Matrixport supports spot trading on BTC, ETH, BCH, LTC, USDT, USDC, LINK, and Dot.
You can set the lowest rates to buy crypto with limit trading and watch your portfolio build up.
Grid trading allows you to invest USD StableCoins as principal and use them to buy low and sell high within a specific price range. By setting up the price range and number of grid lines, you can automate the process of buying and selling cryptos, and have your trades executed without constantly monitoring your orders.
Leveraged Trading allows you to purchase cryptos even if you do not have enough funds to make the transaction, thus increasing your purchasing capacity without spending that many assets from your account.
You can gain even more revenue on BTC, ETH, BCH, LTC, SUSHI, SOL, FIL, CRV, DOT, LINK, and DOGE by taking a long or short-term position.
Leveraged Trading allows you to trade without owning a large inventory of coins in your portfolio and provides you the option to take a bullish or bearish approach.
You can either go the Leveraged Bull route by using USDC or USDT to buy BTC and earn a significant profit if the market goes up. Or you can opt for the Leveraged Bull strategy by selling BTC and gain yields when the market prices fall.
Matrixport has a dedicated derivatives trading platform on bit.com, which features its own mobile app. Bit is powered by Matrixport and has the second-largest trading volume in the BTC and ETH options market.
You can further increase your crypto income by using options and futures trading. Bit allows you to trade in Coin-M Futures and USD-M Futures and BTC, ETH, and BCH options. Compared to traditional spot trading, you can gain up to 50x leverage with futures and 10x leverage with options.
Although trading in derivatives is risky, profits are also sky-high if you do enough research, build your risk profile and play your cards well.
Matrixport allows its users to borrow coins with the help of collateralized loans and zero interest. Matrixport provides instant approval loans and various plans to suit your investment plans. Like depositing cryptos, you must verify your identity to Level 2 if you want to take loans from Matrixport.
Collateralized loans are traditional loans where you can set collateral and borrow cryptos at specified APR rates. Matrixport allows its users to borrow USDT, USDC, BCH, ETH, LTC, and BTC and uses BTC, USDC, ETH, FIL, USDT, BCH, and LTC as collateral.
You can easily set the borrow and collateral currencies to focus on long-term gains. Collateralized loans offer competitive interest rates, and you can pick your ideal interest plan based on the APR rates, collateral currency, and LTV.
The APR rates for collateralized loans can be as low as 0.58% if you borrow USDT for 180 days at 20% LTV against BTC. Alternatively, increase your LTV to 60%, and you can expect high APR rates of 10.8% on your loans.
Zero Interest Loans
Matrixport provides Zero Cost loans that allow you to borrow Bitcoin without paying any interest on the loan. If the price of Bitcoins is below the maturity selling price or take profit price, you can regain your collateral by repaying the amount you borrowed.
Zero loans offer protection fees where, if the price of your borrowed BTC falls below the protection price, you won't have to repay the loan, thus saving you in case of a sudden decline in the crypto market.
Zero-interest loans are best suited if you don't want to deal with the risks of the crypto market and only want to focus on earning stable yields.
Lastly, if the market shoots up and the BTC price becomes higher than the take-profit price, Matrixport will sell your collateral, and the profits will be added to your wallet in USDC.
Matrixport has a minimum amount of crypto that you must withdraw, and it offers one free withdrawal per month. Silver and Gold members have access to two free withdrawals, and Platinum/ Premier members can withdraw their coins up to three times without paying the withdrawal fees. You must pay a small withdrawal fee whenever you withdraw your assets after the free withdrawal. This makes timing your withdrawals wisely a necessity if you want to minimize the withdrawal fee.
Matrixport does not charge any fees when using bank transfer to buy cryptos. Additionally, in the case of Flexi Savings, there are no fees for a month when a product is launched. After that, Matrixport will take a 5% cut on all services that pay interest to the user.
Smart Pool and all DeFi services require the user to pay the gas fees, trading fees, and other fees depending on the investment. Matrixport also claims 10% of your earnings on all DeFi instruments as service fees.
If you trade Derivatives and Options on Bit, maker and taker fees vary depending on your tier. These tiers are assigned depending on the trading volume, with VIP 1 charging the most and VIP 7 charging the least amount of fees.
Can You Trust Matrixport?
Matrixport has been around for quite some time and has garnered a lot of following as Asia's fastest-growing platform and attained Unicorn status in 2021. As of May 2022, Matrixport has $5 billion in monthly trading volume, more than $700 million in outstanding loans, and $10 billion worth of assets under management and custody, which shows that investors from all over the globe use it.
The institutional custody of Matrixport wallets lies with Cactus Custody, a Hong Kong Trust Company that offers a high level of security. Cactus Custody provides vault-grade security and follows AML guidelines. All crypto assets are stored offline in a FIPS 140-2 level 3+ HSM, and security standards ISO 27001 and S-SDLC are used to safeguard them.
The Matrixport app provides security measures to users by setting up F2A and fingerprint scans. Many features, such as buying cryptos using bank wire and withdrawing funds, require you to verify your identity, thus making your wallet even more secure.
Matrixport has commercial licenses in Singapore and Hong Kong. Matrixport also possesses the Swiss FINMA SRO-VQF Membership and follows the User Privacy Protection Policy.
Matrixport is also backed by several big-name investors, such as Lightspeed, Paradigm, Polychain, and DST Global, to name a few.
Matrixport has a support page that users can access if they encounter any issues.
The official Matrixport website provides tons of articles and posts which contain all the details of the services offered by Matrixport. Users can also contact support by clicking the chat icon at the bottom right corner of this link.
Users can also chat with a team dedicated to solving their problems from the app itself, and the support service is available 24 hours every day. Matrixport also has official Telegram groups which help in resolving users' queries.
Pros and Cons
- It offers all the features that you may need to dive into cryptocurrency, packed into a convenient app that allows users to switch between lite and pro modes as they see fit.
- It has many tools to earn a passive income by investing and trading your cryptos.
- Buying cryptos straight from your bank account helps you avoid jumping through hoops of purchasing and transferring cryptos across multiple wallets.
- Vault-tier protocols and procedures secure the app from potential loss of funds via hacking.
- It only offers one free withdrawal per month for regular users.
- It requires you to use the mobile app and doesn't have a dedicated desktop app.
Matrixport vs. Hodlnaut
- Hodlnaut is a crypto investment platform that allows its users to earn interest on their cryptos and provides some of the highest annual percentage yield rates in the crypto market.
- Hodlnaut does not charge any deposit fees and its minimum withdrawal limit withdrawal fees are lower than Matrixport's. For instance, Hodlnaut charges 0.0004 BTC every time you withdraw BTC, while Matrixport charges 0.0005 BTC as the withdrawal fee.
- Hodlnaut is used for investment, while Matrixport offers crypto loans and trading on top of several yield instruments. At most, Hodlnaut provides the Token Swap feature to exchange one crypto for another.
- Matrixport allows its users to trade cryptos and offers several tools to better suit your investment approach. For instance, zero commission spot trading provides an excellent way for newcomers to start trading in cryptos.
- Another drawback of Hodlnaut is that the interest rates diminish as you add more cryptos to your wallet. For instance, the first BTC that you add to your account gains an APY rate of 5.33%, and the rate declines as you increase the amount invested. After you add 2 BTC, the APY rates plummet to a mere 1%.
- Matrixport doesn't feature such a tier-based system, and you can deposit as many cryptos as you wish without seeing diminishing returns on your APY rates.
- Lastly, Matrixport allows you to purchase crypto from the app itself, while Hodlnaut only allows you to invest in your portfolio. You need to use a third-party platform such as Okcoin to buy crypto and then withdraw your assets to your Hodlnaut account. In the case of Matrixport, you can even use the bank wire transfer feature to speed up the process of purchasing crypto assets.
Matrixport vs. Nexo
- Nexo is a crypto platform that allows its users to invest in cryptos and borrow against them at 0% APR with instant approval loans.
- Compared to Matrixport, Nexo's savings account supports more cryptos, including the gold token, PAX Gold. Nexo also provides the Nexo Card, the first of its kind. This free card comes with tons of advantages, such as allowing you to earn up to 2% in crypto rewards on your NEXO transactions. It is unique because it encourages you to HODL your crypto assets and uses credit lines to fund your purchases.
- Matrixport, however, offers higher interest rates on stablecoins. By investing in Fixed Income Savings, Matrixport allows you to earn up to 30% APY on multiple currencies. Nexo only provides max APY rates of 12% on USDC and USDT.
- You can access the Nexo wallet from a desktop, and Nexo does not charge fees whenever you deposit or withdraw your crypto. On the other hand, the Matrixport wallet can only be accessed from your mobile app, and it only allows a limited number of free withdrawals every month.
Alternative Savings Accounts
|Platform||Interest Rates (APY)|
|Nexo||Up to 7% on BTC|
Up to 12% on Stablecoins
... 33 more coins
|Go to site →|
|Midas.Investments||Up to 9.42% on BTC|
Up to 14.5% on Stablecoins
... 15 more coins
|Go to site →|
|CoinLoan||Up to 5.2% on BTC|
Up to 10.3% on Stablecoins
... 23 more coins
|Go to site →|
|YouHodler||Up to 3.05% on BTC|
Up to 8.33% on Stablecoins
... 55 more coins
|Go to site →|
Matrixport is an incredible all-in-one crypto platform that provides several ways to earn from your cryptos. The Matrixport app has several security measures in place, so you can grow your portfolio and increase your earnings as much as you like without worrying about your wallet being compromised.