Finder Earn: The new way to earn 4.01% on your capital, compounded daily

Posted: 22 November 2021 10:00 am
News
Origami dollar seedling being watered with coins_GettyImages_1800x1000

Finder today announced a new way for members to earn 4.01% p.a. on their capital, with earnings paid daily through the Finder app.

Members will be able to transfer funds into their Finder Wallet and then transfer and convert that into stablecoins to earn a return on their capital.

This functions as a cryptocurrency-based loan to Finder in return for the rate, but without the volatility normally associated with digital currency.

More than 12,000 Australians have joined the waitlist in the 3 months it has been open. The first 200 will get access from today, with 1,000 by the end of the week. Any Finder app user can sign up to join the waitlist.

Angus Kidman, Finder's editor-in-chief, said there is nothing like this in Australia.

"Finder Earn is an exciting way of getting a more attractive yet stable return on your capital.

"The financial world as we know it is changing and we are giving Aussies a chance to participate in this new ecosystem."

Based on the Finder Earn model, if you were to transfer the maximum initial balance of 10,000 TAUD to your Finder Earn wallet, you would make more than 400 TAUD in a year on your capital.

According to Finder research, 18% of Australians now own cryptocurrency, up from 13% in March 2021. 1 in 3 (31%) from gen Z already own cryptocurrency.

Unlike other digital assets such as Bitcoin, stablecoins are an unofficial digital representation of an existing currency.

The stablecoin Finder Earn will use is called TAUD and serves as an unofficial digital representation of the Australian dollar.

Kidman said the new feature within the Finder app will help Aussies grow their wealth.

"Finder Earn allows members to get 4.01% on their capital and get paid those earnings on a daily basis.

Picture not described

"Even better, you can withdraw your capital from your Finder Earn account at any time with no fees," he said.

Finder began helping Australians compare cryptocurrencies in 2017. Members have been able to trade Bitcoin and Ethereum in the Finder app since May 2021.

Kidman said now is the time for Aussies to realise the benefits of digital currency.

"Our mission is to help people make better financial decisions. Understanding crypto is not easy and we are trying to demystify it.

"Earlier this year, we announced a 'Bitcoin-for-beginners' way to trade crypto through the Finder app. Using the app, you can start trading in just 3 minutes.

"We see Finder Earn as a bridge for everyday Aussies to experience the possibilities of digital currency in a less volatile way."

Finder Wallet is an AUSTRAC-registered digital currency exchange.

The Finder app is free and available to download in both the App Store and Google Play Store – Aussies can join the waitlist for Finder Earn now.

The first 200 members have access to Finder Earn from today, with access opening up to the waitlist in waves between now and January 2022.

To start earning sooner, download the Finder app and join the waitlist.

Learn more about Finder Earn and how to use it here.

Get more from Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site