Savings is a service for anyone interested in earning extra money just by holding cryptocurrency. Now in a few taps, you can earn daily interest and rewards. It’s the safest and simplest way to earn passive income in crypto.

Update Nov 23rd 2022:

ZenGo is revamping the ZenGo earn section with a new offering, and therefore we are sunsetting the current earn program soon.

  • New deposits of assets, other than Tezos staking, are no longer available.

  • Deposits already made with Nexo can be safely withdrawn to your ZenGo wallet (see how below) at any time. If you have funds on ZenGo earn, please withdraw them from Nexo back to your ZenGo wallet before December 31st, 2022

  • Staking Tezos is still available

How does ZenGo Earn work?

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There are two ways to earn with ZenGo Savings:

  1. Lending: Nexo offers a predictable source of passive income on a variety of cryptocurrencies. Nexo is a licensed and registered digital assets institution for crypto lending and calculates interest on a daily basis. Interest is added to your balance on a daily basis, providing you with compound interest in the same currency that you’re lending.

  2. Staking: Staking lets crypto holders earn extra income by contributing to the network security of a proof-of-stake (PoS) asset. By contributing (delegating) the voting rights associated with your asset to a validator node, you increase the chances of the validator to validate transaction blocks and in return earn rewards. They then share a portion of those rewards with their delegators. Currently, ZenGo offers staking with Tezos (XTZ), but in the future, we plan to add more staking assets. For more information on this topic, see the article on Tezos staking.

How do I withdraw from ZenGo Earn to ZenGo wallet?

There are two types of screens that you might encounter when depositing and withdrawing:

Earn Deposit (disabled for new deposits) and withdrawal screen: on ZenGo earn, your funds are deposited with Nexo. To withdraw back to your ZenGo wallet, follow a few simple steps (New deposits are no longer available)

Here is a quick guide on how to return your funds from ZenGo earn to your ZenGo wallet

You can access the coins to withdraw from ZenGo "Home" main Wallet screen

  1. Scroll down until the "Earn" section

  2. Tap on the coin (eg, Bitcoin) you wish to withdraw from Nexo back to your ZenGo wallet

  3. Then tap Withdraw (see below)

  4. Complete the withdrawal request

  5. When all funds are withdrawn, they include your lifetime earnings

Note that the withdrawal transaction, once completed, may take some time to land back in your ZenGo wallet because they are sent via the blockchain to you.

Tip 1: Note that there is a withdrawal limit of 20k USD max per day (for more, contact our support team).

Tip 2: You may experience some bugs are using the "Max withdraw" due to price volatility. To resolve this, subtract a small amount from your maximum to withdraw. Possibly restart the app

Staking Activation screen: Staking assets, namely Tezos for now, have an “Activate” button instead of a deposit button because you can’t choose a portion of your assets to stake — it’s all or nothing. You simply need to activate your savings once per asset and your wallet remains activated forever. There’s no downside to this since the funds never leave your ZenGo wallet and are always accessible and liquid. If you send them out of your ZenGo wallet, you’ll simply stop earning the rewards on that amount.

What are the available interest rates?

  • Bitcoin (BTC): 3% APY up to 25K USD, 1.5% APY above 25K USD

  • Ethereum (ETH): 4% APY up to 100K USD, 1.5% above 100K USD

  • Link (LINK): 3% APY up to 25K USD, 1.5% APY above 25K USD

  • Dai (DAI): 8% APY up to 100K USD, 4% above 100K USD

  • Tether (USDT): 8% APY up to 100K USD, 4% above 100K USD

  • TrueUSD (TUSD): 8% APY up to 100K USD, 4% above 100K USD

  • USD Coin (USDC): 8% APY up to 100K USD, 4% above 100K USD

  • Nexo Token (NEXO): 4% APY

Tezos APY depends on which validator you choose.

How do I start making money with ZenGo Earn?

You can start earning in just a few taps by following these simple steps:

  1. Pick which asset you want to earn. You’ll find the available interest rates (APRs) on the “Earn” screen in the app to help you decide.

  2. Tap on the asset. If you don’t own any, we’ve made it easy to buy or receive.

  3. Tap the Deposit button and choose how much you’d like to allocate to Savings.

  4. Tap “Confirm”.

That’s it! You’ve just started saving. Now just sit back and watch your portfolio grow.

Where can I see my savings deposits and interest earned?

To see your savings deposits and interest earned, just go to the Home screen and scroll to the bottom section. All active deposits are presented there under a section called "Earn".

Staking deposits (e.g. for Tezos), however, will appear in the "Wallet" section above because those funds are always liquid and never leave your wallet.

How do I get paid interest and rewards?

For lending in Nexo, your interest accrues in kind, once per day, and gets added to your lending balance automatically, so you can earn compound interest. The first interest payment after your initial deposit will be paid no earlier than 24 hours after the deposit, between 7:00-8:00am CET on the following day.

For staking, there's an initial waiting period of approximately 33 days before receiving your first reward payment. After that, you should receive a reward payment from the validator approximately every 3 days which gets deposited directly into your wallet.

Are my funds liquid while in Savings?

Your funds are always accessible from your ZenGo wallet while in Savings. All transactions are on-chain and only you have the ability to move your crypto. That said, there are differences between lending and staking in this regard.

Funds that you’ve lent to Nexo are stored with Nexo so you first need to withdraw them to your ZenGo wallet before sending them elsewhere.

On the other hand, funds that are delegated to staking are never sent out of your wallet. You only delegate your voting rights for the asset, not the asset itself. So you don’t need to do any special withdrawal action to be able to send them out of your ZenGo wallet.

Are there any fees associated with Savings?

The only fees you need to pay are network fees (not paid to ZenGo but to the blockchain networks) to complete your deposit and withdraw transactions or to activate staking.

*For lending with Nexo, you get one free withdrawal per calendar month which means that the network fees are waived.

Which assets are supported in ZenGo Savings?

For lending with Nexo, the following assets are supported: BTC, ETH, LINK, DAI, USDT, TUSD, USDC, NEXO.

For staking, we currently support XTZ.

There are certain countries that are not yet supported by Nexo.

Who holds my assets?

For lending, your assets are held with Nexo, and by depositing you agree to their Terms of Service. For staking, your assets are held in your ZenGo wallet.

Is there a minimum or maximum deposit amount?

For Nexo, there is a minimum amount required for deposits per asset. This amount changes over time and is best viewed in the app. There is no maximum deposit.

For Tezos the minimum amount to activate staking is 1 XTZ.

Is there a minimum or maximum withdrawal amount?

For Nexo, there is a minimum amount required for withdrawals per asset. This amount changes over time and is best viewed in the app. The maximum daily withdrawal limit is the equivalent of $20,000 per user.

Is there a fixed loan term?

No, there’s no fixed amount of time that you must keep your crypto in Savings. You can deposit and withdraw anytime.

Are there risks involved?

Lending: Since lending involves sending your crypto to a 3rd party, there are certain counterparty risks involved. We recommend doing your own research into the various aspects of counterparty risk before making any financial decisions. You can also follow Nexo's Twitter account for updates (@Nexo).

Staking: Since you don't need to part with your assets in order to delegate them, your funds always remain in the safety of your ZenGo wallet. This means that validators do not have access to your funds, and you earn the rewards with no counterparty risk.

If you have any further questions, contact us anytime at help@zengo.com or through our live support inside the app.

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