Matrixport Review – Should You Use This Platform?

About Matrixport

Matrixport is a crypto financial services platform that delivers a comprehensive suite of crypto financial products, including numerous ways to purchase crypto and earn interest, all of which are accessible through its website or mobile app once you create a Matrixport account. 

For those newer to the world of crypto, the Matrixport app has a Lite version with a simpler interface and fewer products and services, but anyone can easily toggle to the Pro version via the button in the top left corner of the app.

Through its strategic collaborations with early-stage Web3 innovators and its own services, Matrixport provides access to crypto trading, crypto interest earning, crypto loans, ETH 2.0 staking, and other investment opportunities.

To use Matrixport, you can sign up via phone, email, or through MetaMask. The first two options are not available to US citizens, but the MetaMask option will work for anyone.

If you want to learn all about Matrixport’s services and whether or not they’re right for you, stick around for this in-depth Matrixport review.

*Not investment advice*

Matrixport Trading/Crypto Exchange

Matrixport supports several different types of trading and ways to buy crypto, including smart trades, swaps, limit orders, and leverage trading.

Smart trading is a more hands-off approach but admittedly a little complicated with options like grid trading, buy-below-market, sell-above-market, and auto-invest. 

The first three options utilize range trading strategies that automatically buy or sell BTC according to how price moves within a specified range during a certain period of time, and the auto-invest option is just a way to set up a dollar-cost-averaging into any of the 30+ crypto assets Matrixport supports.

The swap function is Matrixport’s basic exchange, where users can quickly swap back and forth between any of the 30+ crypto assets. The swap interface is standard and easy to use, albeit far from an advanced trading platform, and Matrixport charges nothing in commissions or trading fees.

The limit order trading, on the other hand, is only available for seven trading pairs, all of which include some combination of BTC, BCH, ETH, USDT, and USDC, and charges a 0.1% trading fee.

As for leverage trading, Matrixport supports up to 5x leverage on ten crypto assets (BTC, BCH, ETH, LTC, SUSHI, FIL, CRV, DOT, LINK, and DOGE). Margin for the leverage trading, however, must be in BTC, USDC, or USDT.

Earning Interest with Matrixport

Perhaps the most enticing aspect of Matrixport is all the opportunities to earn interest it offers so investors can have their idle assets work for them. 

The ways to earn interest are somewhat broken down into different asset classes, but they technically fall into two categories: Savings and DeFi.

The Savings category includes two options: Fixed Income and Flexi Saving, and the DeFi category includes five options: Smart Pools, DeFi Intelligence, Curve, Compound, and Aave. 

Matrixport Savings

The fixed income earning offers 30% interest on USDC/USDT for the first eight days to entice new users and 4.50% to 9.50% after that, depending on your term length, which can range from 14 days to 240 days.

Other fixed-income interest rates also depend on the term length but range from 1.75% to 9.50% for BTC, 2% to 5.50% for ETH, and 0.50% to 8% for altcoins.

As for the Flexi Saving option, rates are 6% for USDC/USDT, 2.50%, and 1.50%, respectively. The main difference between the Flexi Saving and Fixed Income is there are no term limits, so you can withdraw at any time.

Matrixport DeFi Savings

Transitioning to the DeFi earning options, Matrixport has smart pools that invest in third-party DeFi protocols, including Curve, Swerve, etc. Smart pools allow you to withdraw at any time, compound interest hourly, and offer 5-25% APY.

However, Matrixport charges 10% investing fees on whatever the annualized return is for any smart pool. 

Next is the DeFi Intelligence, a flexible redemption option based on a selection of DeFi projects to help you conduct liquidity mining, which offers 5-30% APY with no investing fees.

Curve, Compound, and Aave are all DeFi collateralized lending/liquidity protocols Matrixport has linked up with to provide a more streamlined use of their services. Both Curve and Compound offer 5-25% APY, while Aave offers up to 15% APY.

Matrixport Staking

If you would prefer earning interest through staking rather than lending or dipping your toes into DeFi, Matrixport supports staking for six different crypto assets: ETH, AVAX, FIL, MATIC, SOL, and TONCOIN, with interest rates of 2.28%, 3.94%, 4.74%, 4.35%, 2.62%, and 5.57%, respectively.

All the staking terms are flexible, meaning you can withdraw at any time, but there is also fixed-term staking for ETH with a 5.31% interest rate if staked for 1-2 years and a leveraged staking fixed-term rate of 9.43% for the same duration.

Matrixport Crypto Loans

In addition to the mountain of interest-earning opportunities, Matrixport also offers collateralized crypto loans.

Once you complete your KYC verification and deposit crypto to your account, you can submit a loan request with instant approval to borrow and spend right away.

Collateral for loans can be in BTC, BCH, ETH, LTC, USDT, USDC, and FIL, and you can borrow in all the same assets, excluding FIL.

Interest rates will vary depending on the loan-to-value (LTV) ratio and term length, but rates can be anywhere from 1.38% to 10.80%. LTV ratios only go as high as 60% and can be as low as 20%.

Assets posted as collateral for any loan are also safeguarded with qualified digital asset custodian Cactus Custody to ensure maximum security.

Matrixport Zero Interest Loans

Aside from Matrixport’s traditional loans, they also offer zero-cost loans, which are loans without any interest, liquidation risk, or repayment required under price meltdowns at maturity.

All you do is set a take-profit price and protection price. By giving up the opportunity cost of potential BTC upside through the take-profit point, you will enjoy the aforementioned benefits and downside protection.

Zero-cost loans must be collateralized with BTC, but the LTV, take-profit price, and term duration are all customizable. No matter how the price fluctuates, no additional collateral or financing costs are required.

Matrixport Dual Currency Products

The dual currency products Matrixport offers are incredibly unique in the world of crypto and also quite confusing, but they are worth looking into given the outsized returns.

A dual currency product is a non-principal protected investment product with a floating return. The yield of the product is secured at the time of purchase, while the currency in which the product will be settled changes depending on how the settlement price compares with the linked price.

To better explain how this works, if you purchase the product with BTC, the settlement currency could be either BTC or USDC, depending on how the settlement price compares with the linked price. 

If the settlement price is higher than the linked price (benchmark price), you will receive the return in BTC; if the settlement price is lower than the linked price, you will receive the return in USDC. 

The only uncertainty is whether she will receive the return in BTC or USDC, depending on where BTC/USD stands on the expiry date.

Matrixport currently has a dual currency product for BTC, BCH, ETH, and SOL with annualized yields from .36% to 150%, depending on the term length. Term lengths can be anywhere from one day to 119 days, and the shorter terms pay higher yields.

Conclusion: Matrixport Review 

After walking through all of its products for this Matrixport review, we believe Matrixport is an exceptional platform with seemingly countless services that will appeal to a wide range of crypto investors.

When it comes to trading, Matrixport has plenty of options, including its unique smart trading options. Still, it is somewhat limited in the trading pairs it offers, especially if you prefer limit orders.

While its swap function will likely be enough for the average trader, Matrixport is hardly a platform active traders will turn to. That said, the range of trading options it offers are extremely handy, albeit a bit confusing, and its auto-invest function will be a massive plus to passive investors.

However, the real reason to join Matrixport is the earning opportunities from lending any of your crypto assets and its crypto loans.

Truthfully, Matrixport has more earning opportunities than most might know what to do with, but having so many options means there is likely something that will appeal to most users.

While the interest rates Matrixport offers aren’t exceptionally high, they are all very competitive. Moreover, such a wide range of options around terms, assets, and exactly where your money is going leaves a lot of room to tailor to one’s individual preferences.

Even if you aren’t interested in lending, Matrixport has plenty of staking options that are arguably easier to understand. It even has fixed-term staking for ETH, which isn’t always easy to find.

As for its loans, Matrixport continues its trend of optionality with flexible LTVs, interest rates, and term lengths and tops it off with its unique zero-cost loans.

Given all the choices and flexibility Matrixport’s loans offer, it should prove to be one of the better options out there for crypto loans.

With all this being said, the biggest concern when it comes to earning, loans, or really anything with Matrixport is the paradox of choice, as you can be easily overwhelmed by the sheer volume of options.

Matrixport is an excellent platform with exceptional services, but there is a reason it has a Lite version of its app. If you fancy yourself an experienced crypto investor, there’s no doubt you will find value in Matrixport and its well-developed ecosystem, but it may not be suited for average retail investors looking for a simple way to earn on their idle assets.

We would strongly recommend checking out Matrixport and its services, as they truly are great, but if simplicity is your goal, you might be better off with other crypto platforms.