Home/ Markets / Cryptocurrency/  Crypto startup weTrade launches 'weSave' to offer fixed interest on stable cryptocurrency investments

Bengaluru-based crypto startup weTrade has launched- ‘weSave’, a feature that provides users with an opportunity to save and avail fixed interest on their stable cryptocurrency investments. Users can earn up to 14% interest per year that is credited daily, TDS free and has no lock-in period, the company said.

“Through weSave, users start earning interest as soon as they buy USDT through the platform, based on the average USDT balance for the day which is credited daily to their portfolio. Users can withdraw their investment as per their convenience since there is no lock-in period. Furthermore, no TDS is applied on the interest earned and users also receive a cashback at the point of sale to cover TDS charges. As an inaugural offer, users can avail 14% for the first two months and 12% subsequently," the crypto startup said in a release.

Commenting on the announcement, Prashant Kumar, Founder & CEO at weTrade, said “The new weSave feature is a definite differentiator for the platform. It is a first-of-its kind feature that will give users the opportunity to gain interest on their stable crypto investments. Our endeavor has always been to provide best returns, the most user-friendly onboarding experience and industry first rewards while maintaining the highest levels of security to ensure that customer assets are safe and secure."

weTrade was founded in 2022 by Prashant Kumar, a technology veteran who headed engineering for Flipkart Wholesale. The company has appointed Ravi Garikipati, ex CTO of Flipkart on its board of directors.

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 05 Oct 2022, 12:13 PM IST
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout