What is Wirex DUO?
DUO is a dual-asset investment tool that offers a win-win opportunity for everyday investors like you. DUO enables you to earn an appealing yield based on the variation in market prices of a trading pair over a selected timeframe, with payouts in one of two cryptocurrencies. There are no fees, and the higher the amount you lock and the shorter the locking period, the greater the APR you can earn
Users can choose from nearly 100 different cryptocurrency pairs and invest over a short-term period ranging from 12 hours to 7 days. DUO guarantees a fixed Annual Percentage Rate (APR), which is calculated based on the amount invested, the selected pair, and the investment period. Depending on market conditions at the time of expiry, users receive a guaranteed return in either the base or quote currency.
How Does Wirex DUO Work?
The mechanics of Wirex DUO are straightforward and user-friendly. To get started, users need to:
Select a Currency Pair: Users can choose from major cryptocurrencies or stablecoins, such as BTC/USDT, to create their DUO.
Choose the Input Coin: Depending on the balance in their wallet, users select which cryptocurrency or stablecoin they want to invest in.
Select a Staking Plan: Users decide the duration of their investment, which can range from 12 hours to 7 days.
Earn a Profit: At the end of the chosen period, users receive their profit in either the invested currency or the quote currency, depending on market conditions.
You can learn more about how to open a DUO here.
Wirex DUO provides a fixed APR, meaning users can predict their potential returns before they invest. For instance, if someone invests 0.5 Bitcoin in a 12-hour BTC/USDT DUO with a 200% APR, they would receive a reward of 0.00137 Bitcoin at the end of the term if the value of Bitcoin has not surpassed its initial price. If it has, they receive their payout in USDT instead.
Wirex DUO vs DeFi Protocols vs Staking Pools
Security and Simplicity: One of the standout advantages of Wirex DUO over traditional DeFi protocols and staking pools is its ease of use and security. Unlike many DeFi platforms, Wirex DUO does not require users to manage their private keys or navigate the complexities of decentralized exchanges. All investments are made directly through the Wirex app, which is secured by Fireblocks, a leading digital asset custody platform.
Guaranteed Returns: Wirex DUO offers a fixed APR, providing predictability and security that DeFi protocols often lack. In contrast, DeFi staking pools can offer highly variable returns, depending on the underlying assets' performance, liquidity, and network conditions. While DeFi protocols may promise higher yields, they come with greater risks, including the possibility of impermanent loss or smart contract vulnerabilities.
No Hidden Fees: Another significant advantage of Wirex DUO is the absence of hidden fees. Users receive the full benefit of their investment without worrying about additional charges that can often eat into profits on DeFi platforms.
Impermanent Loss Mitigation: Unlike in many DeFi liquidity pools where impermanent loss can be a significant risk, Wirex DUO's fixed-term investments help mitigate this risk. Users can better predict their returns and avoid the uncertainties that come with DeFi protocols.
User Experience: For users who prefer a more hands-off approach to cryptocurrency investing, Wirex DUO provides an ideal solution. There is no need to manage multiple wallets or track the performance of different DeFi protocols. Everything is streamlined within the Wirex app, making it accessible even to those who may not be deeply familiar with the technical aspects of crypto investments.
Conclusion
Wirex DUO stands out as an accessible tool for those looking to earn passive income from their digital assets without the complexities and risks associated with traditional DeFi protocols and staking pools. By providing guaranteed returns, no hidden fees, and a user-friendly UX, Wirex DUO allows both beginner and experienced investors to grow their portfolios with confidence.
TLDR; Why Wirex?
The Wirex platform offers a range of benefits for users looking to manage their assets and make transactions conveniently. Here are some key benefits our customers rave about:
Diversification ✅ We offer 150+ assets
Customer Support ✅ Out team is there for your 24/7
Community ✅ We have an incredible community of 6m+ customers over the world
Efficiency ✅ Over $20bn transactions processed with us
Trusted ✅ $30m insurance on digital assets
Safe and secure ✅ Our infrastructure is regularly tested and PCI DSS Level 1 compliant, which is the highest level possible
Cost Effective ✅ Free account, free free foreign exchange, low fees
Convenient ✅ wide range of on-ramp methods and high limits
Disclaimer
The information contained herein has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for financial, legal, or investment advice. Wirex and any of its respective employees and affiliates do not provide financial, legal, or investment advice.
The value of cryptoassets may fluctuate significantly over a short period of time. The volatile and unprecedented fluctuations in price may result in significant losses over a short period of time. Any Cryptoassets may decrease in value or lose all its value due to various factors including discovery of wrongful conduct, market manipulation, change to the nature or properties of the Cryptoasset, governmental or regulatory activity, legislative changes, suspension or cessation of support for a Cryptoassets or other exchanges or service providers, public opinion, or other factors outside of our control. Technical advancements, as well as broader economic and political factors, may cause the value of Cryptoassets to change significantly over a short period of time.
