Are you interested in earning interest on your Bitcoin and USD? If yes, then MODE Earn App can be a great option for you. In this review, we’ll take a closer look at this app and its features, as well as its pros and cons.
| Aspects | Review |
|---|---|
| App Name | Mode Earn |
| Type of App | Cryptocurrency Investment App |
| Features | Easy-to-use interface, automated investment options, ability to purchase Bitcoin and Ethereum, competitive fees |
| Safety | 2FA and biometric authentication, cold storage, insured against hacking and theft |
| Fees | Competitive fees with no hidden costs |
| Customer Support | Quick and responsive customer support |
| Pros | Easy to use, secure, insured against hacking and theft, competitive fees, great customer support |
| Cons | Limited cryptocurrency investment options, currently only available in the UK, no support for other cryptocurrencies apart from Bitcoin and Ethereum |
What is the MODE Earn App?
MODE Earn App is a mobile application that allows you to earn interest on your Bitcoin and USD. The app is owned and operated by MODE Global Holdings PLC, a London-based fintech company that is authorized and regulated by the UK Financial Conduct Authority (FCA).
How does the Mode Earn App work?
MODE Earn App works by using a combination of Bitcoin lending and institutional-grade USD liquidity pools to generate returns for its users. Users can deposit Bitcoin or USD into their MODE Earn accounts, and the app will pay interest on their deposits on a weekly basis.
| Features | Pros | Cons |
|---|---|---|
| User-Friendly Interface | Easy to navigate and use for beginners. | Limited customization options. |
| High Yield Savings | Offers up to 6% APY on crypto and cash deposits. | Only available in select countries. |
| Automatic Investing | Automatically invests your savings in a diversified portfolio. | Limited investment options. |
| Fast and Secure Transactions | Provides fast and secure transactions with 2-factor authentication. | No option to withdraw funds to external wallets. |
| Low Fees | Low fees for transactions and investing. | No customer support phone number. |
| FDIC and FCA Insured | Funds are protected by up to $250,000 by FDIC and FCA insurance. | Limited customer support options. |
What are the pros of using the MODE Earn App?
- High-interest rates: MODE Earn App offers some of the highest interest rates in the market, with up to 5.5% APY on Bitcoin and 9% APY on USD deposits.
- Security: The app uses advanced security measures, such as two-factor authentication and biometric login, to ensure the safety of user funds.
- Transparency: MODE Global Holdings is a publicly-traded company, which means that they are subject to regular audits and transparency requirements.
- User-friendly interface: The app is designed to be easy to use, even for those who are new to Bitcoin and cryptocurrency.
What are the cons of using the MODE Earn App?
- Limited cryptocurrency options: At the moment, the app only supports Bitcoin deposits.
- Withdrawal restrictions: Users are only able to withdraw their funds once per week.
- Limited availability: The app is currently only available in select countries, including the UK, Europe, and Singapore.
Conclusion
MODE Earn App is a great option for those who are looking to earn interest on their Bitcoin and USD deposits. With high-interest rates, advanced security measures, and a user-friendly interface, it’s a top contender in the market. However, it’s important to keep in mind the limited cryptocurrency options and withdrawal restrictions before deciding to use the app.