Product

Block Earner launches Crypto Earner, offering 4% yield on Bitcoin and Ethereum investments

02 Aug 2022
Block Earner continues to enrich its platform, launching crypto-investment offering with added value for both crypto beginners and long-term investors
Sydney Australia, 2 August 2022 — Leading blockchain-powered, fintech startup Block Earner today launches Crypto Earner, a new way for people to earn a fixed 4% annual yield on their investments in Bitcoin and Ethereum.
The platform’s user-friendly interface provides crypto beginners and long-term investors with the tools to purchase and reap additional yields on cryptocurrencies — without the hassle of dealing with complex crypto wallets, keys or staking pools.
Customers can invest in Crypto Earner with traditional Australian dollar bank transfers or PayID via their Block Earner cash account. Block Earner then automatically converts these Australian dollars into Bitcoin or Ethereum depending on the customer’s choice. The investments then start earning a daily compounding yield, the value of which moves according to the price of these cryptocurrencies.
Block Earner does not subject customers to lock-in periods, minimum deposit amounts or account fees — and gives every customer the ability to withdraw their funds at any time.
Crypto Earner is the latest addition to Block Earner’s deposit options, which already include products backed by two of the most stable assets in the world — gold and the US dollar. Gold Earner, launched in June this year, is a gold-backed 4% fixed annual yield product, and USD Earner, launched in April, is a USDC-backed 7% fixed annual yield earner. In addition to these fixed yield products, Block Earner also provides access to variable yield products that are powered by DeFi platforms like Aave and Compound.
Block Earner generates these yields by lending customer funds to trusted blockchain-focused partners vetted in accordance with Block Earner’s conservative risk policy — and whose financial strategies are proven, sustainable and measured. These partners lend customers’ funds to institutional borrowers who provide up-front collateral on what they borrow, so if the underlying value of collateral falls, the blockchain’s immutable trading rules automatically liquidate the borrowers’ collateral. This automatic liquidation ensures that all Block Earner customers’ funds are protected.
Charlie Karaboga, co-founder and CEO, Block Earner said: “Even after the recent downward trend, customers are continuing to invest in cryptocurrencies, and we want to make it easy for them to buy with an additional boost of daily compounding yields. As a fintech, providing access to blockchain financial services and investment options, we see tier-one cryptocurrencies as an important piece in our offering to ensure our clients are able to save, invest and earn in a sustainable, low-risk manner.
“We believe in a conservative approach to investing, and with this mindset, we chose to offer only the two largest and widely used cryptocurrencies — Bitcoin and Ethereum. Bitcoin has the largest market capitalisation and is the best-performing digital asset of the last decade. Ethereum has the second-largest market capitalisation and is enabling a new age of financial services and many Web3 innovations like gaming, NFTs and the metaverse.”
Block Earner is registered with AUSTRAC, which is responsible for preventing, detecting and responding to criminal abuse of the financial system.
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