Chatex Savings Explained. The Simplest Crypto Savings Account

Introduction to Chatex Savings

The Chatex Cryptobank is currently Telegram’s 2nd largest cryptocurrency-based application used by over 325,000 active users and with over $165 million in trade volume. Our mission with the upcoming $CHTX tokensale is to scale our application and bridge the world of CeFi and DeFi so that users the world over can seamlessly participate in the DeFi ecosystem and gain a passive crypto income. All in a simple, accessible, and secure fashion with a crypto savings account that is available right from the comfort of your Telegram messenger application. 

While DeFi provides the opportunity to make a passive crypto income, doing so is quite challenging and expensive for both newcomers to the cryptocurrency market and experienced participants. Thanks to our upcoming Token Sale, existing product suite, and the release of Chatex Savings, those difficulties will become no more! With Chatex, participating in DeFi becomes blatantly easy for anyone. 

Introducing Chatex Savings: DeFi without barriers

As we told you in our first article, it’s possible to get 300% APY within the DeFi market. But it’s not that simple. There’re a lot of obstacles to overcome. With the introduction of Chatex Savings as a part of the Chatex Cryptobank, participation in DeFi for crypto enthusiasts, traders, and not so tech-savvy common folk, will quite literally be changed forever, for the better. But to understand how it can be achieved, let’s find out what people should do today to earn at least something on DeFi platforms.

Passive Income Generation through DeFi

Earning a passive crypto income with DeFi requires one to have a deep technical and fundamental understanding of how the cryptocurrency industry and various DeFi applications function. Before Chatex Savings release, one would need to spend countless hours on:

  • Conducting research about various (amongst hundreds) of DeFi protocols and aspects of it like Automated Market Making & Yield Farming. 
  • Figuring out which protocols to park their assets in for decent returns. 
  • Familiarizing themselves with the ever-so-different UI/UX of each platform.  
  • Worrying about losing funds due to possibly allocating funds to protocols of questionable quality and potential scams. 

Overcoming these knowledge barriers and acquiring the expertise needed to utilize DeFi is often an extremely arduous task for common people, crypto enthusiasts, and even experienced traders. So much so that they often simply pass on the opportunity to make a considerable passive crypto income. Why?

Let’s figure out step-by-step?

There are a few methods to farm tokens in DeFi: borrowing, lending, allocating capital to liquidity pools and staking liquidity provider tokens.

Which of them should one select? 

Lending or borrowing activity on the platform is rewarded with tokens. Thus, increasing one’s returns. 

Additionally, one can provide liquidity to liquidity pools and be rewarded for that as well. For instance, getting BAL tokens for providing liquidity to Balancer. It’s also possible to stake LP tokens obtained for participating in liquidity pools. 

But to acquire this profit, a person must perform multiple actions and sometimes wait for weeks or months. 

Let’s deconstruct this process piece by piece with a real example:

Seems like a lot, doesn’t it?

Let’s dive deeper into a real example to figure out.
Meet Jason. He wants to earn money but to do that, he must make many sophisticated steps to start earning on DeFi. Let’s explore his path to get a better understanding of the DeFi lifecycle.

Even though Jason took the risk of losing money, made many efforts and spent a lot of time to pass this exhausting farming process, in the end, he may just lose his small amount of invested ETH. 

To farm or not to farm? That is the question. Whatever your answer may be, what’s for certain before the Chatex Savings release, there was no easy way to earn in DeFi. 

How does Chatex Savings Works? 

We’re building Chatex Savings in a way that all those who wish to participate in DeFi can do so without ever having to leave the all-familiar Telegram messenger. So, you don’t need to pass all the steps described above. Making use of our crypto savings account with us will quite literally be as easy as making a few clicks in the app, without having to spend countless hours, days, or weeks on research. Let’s see how it works then, shall we?

Step 1) 

As you can see via the image above, we have accessed our Chatex cryptocurrency wallet and can see a balance of nearly $14 USDT. To participate in Chatex Savings, a user would simply click the “Savings” button. 

Step 2) 

We are then shown the currency which will be allocated to Chatex Savings, the allowable amount (the minimum of $10!), our percentage annual yield, and its distribution frequency. As you can see, one is able to store their assets in Chatex Savings as long as they want. Click “Create deposit” to continue. 

Step 3

Chatex will then ask how much USDT you’d like to deposit to Chatex Savings. We’ll allocate 10 USDT for this example. 

Step 4

The application then provides us with some additional important information. We now click “Create deposit”. 

Step 5

And voila! There we have it. In just five clicks within the Chatex Savings feature, we can now sit back and wait for our first passive crypto income to start coming in two days. Quite simple, isn’t it? 

Step 6

We should have told Jason about Chatex Savings. 

With Chatex Savings, partaking in DeFi and earning a passive crypto income will be as easy, secure, and accessible as it possibly can be.

The Chatex Savings Feature in Details  

The Chatex Savings feature, which will be available for the masses shortly after the completion of the $CHTX token sale this August, provides anyone with the possibility to profit by combining existing CeFi and DeFi solutions.

  • Chatex users will be able to deposit their assets and receive passive crypto income daily from a combination of the crypto market’s various DeFi strategies with no effort.
  • Users can withdraw their earnings at any time by just clicking on one button. 
  • The strategies used by Chatex and the available asset list will be regularly updated by our analytics team in active cooperation with financial and crypto experts to provide Chatex users with the best returns. 
  • So, our users don’t have to spend a lot of time on research, tracking and managing their assets. 

Chatex will integrate with major DeFi platforms on Ethereum, Binance Smart Chain, and the Huobi Eco Chain in order to provide users with the most popular and secure DeFi protocols to generate passive crypto income and enjoy additional rewards in the form of $CHTX tokens. 

Where does the additional income in Chatex Savings come from? 

The expert analytics team and proprietary backbone implemented in the Chatex Cryptobank make use of sophisticated and leading DeFi protocols such as Compound, Uniswap, 1inch, SushiSwap, Balancer, and others to discover and utilize the best possible DeFi strategies for optimizing earnings on assets allocated to them by users in the most simple, accessible, and secure manner. 

The Workflow for Depositing Funds in Chatex Savings

  • Let’s imagine you’re a Chatex Cryptobank user and have some Russian Rubles available on a Qiwi e-wallet or any other of the 169 fiat currencies that our application supports. 
  • You could exchange your fiat currency for say Tether (USDT) right within the application and then immediately put that USDT to work. 
  • Just by depositing USDT and without a requirement to stake anything, you will obtain an annual APY of 7% that is several times higher than in traditional banking and other crypto platforms including Binance, which provide ~1.2 – 4.5% APY, with 6% APY and AAVE with 0.5 – 4% APY for Stablecoins
  • The Chatex Cryptobank will credit your earnings daily and you can withdraw them at any time. There is no lockup period for APY of 7%, as well as no hidden fees and tricks. 
  • Additionally, the Chatex savings feature will allow users to utilize $CHTX tokens to boost their APY for USDT, and other asset savings or Chatex Savings.
  • Users will find that using the Chatex Savings feature and depositing funds with the Chatex Cryptobank is as equally secure as using a modern bank.

Benefits for Early $CHTX Token Holders 

Early $CHTX token holders who purchase Tokens at the Chatex token sale event will get the following benefits: 

  • Early access to Chatex Savings, before the official release. 
  • Ability to increase Savings APY % 
  • Discount on Trading Fees
  • Discount on Withdrawal Fees
  • And other situative events and benefits that will be announced on our Twitter and Medium

The superiority of Chatex Savings in DeFi 

As it stands right now and as previously mentioned, participating in various DeFi protocols available in the market carries with it a burdensome load of complex activities and food for thought that prove to act as tremendous entry barriers for both newcomers and experienced cryptocurrency enthusiasts. 

No painful transaction fees

For starters, people participating in DeFi on their own have to frequently face hefty fees and deal with investments being greater than the revenue. The transaction charges become truly draconic due to inadequate network scalability and overpriced fees for services in DeFi protocols themselves. During peak network load times, users who would transfer funds to the Metamask browser-based wallet, and then from it to a DeFi protocol or DEX and then back again would end up facing several hundreds of dollars in fees

Sounds bad, right? 

But things get worse when we consider that transferring assets from A to B isn’t the only action that’ll rake up fees for DeFi users. For instance, interacting with any Ethereum based smart-contract entails having to pay a fee. Also, any time one makes a swap between one token or another on a DEX, fees must also be paid. And if one is participating in DeFi by themselves, and say has concerns over the security of their fiat, depositing that fit into a DEX based multi-sig escrow wallet carries fees too!

However, with Chatex Savings and our proprietary backbone, all of these fees are no longer a problem as we handle all of these expenses on our own. This is possible thanks to the economy of scale. We form pools from all users who join Chatex Savings. It enables us to pay all the commissions associated with the DeFi infrastructure at each stage once. It makes the process cost-efficient.

So, the users can allocate their assets via Chatex Savings and the app will do all of the heavy lifting for them while they can simply enjoy the passive crypto income.

Always get the best returns

Secondly, DeFi participants often face difficulties associated with figuring out their APR and overall profitability from allocating assets to DeFi protocols. If we factor in the price volatility, a characteristic common amongst all cryptocurrencies, then determining one’s profit can become quite hectic. Some resort to using scripts and calculations to determine their gains. 

The Chatex backbone automatically and securely allocates the funds of users who are willing to participate in DeFi to the best possible strategies for optimal returns. 

The Ultimate UX

Given that there is a vast quantity of DeFi protocols in the market, figuring out which one(s) to use is a challenge in and of itself. But further complexity is added to the matter considering that each protocol has its own unique UI & UX with which users must familiarize themselves. This adds an extra layer of challenge on the path towards putting one’s money to work.
Let’s review just a swap process on Uniswap, which is the smallest part of the whole DeFi earning process. 

It requires 6 steps to be made. And along with that, users are to perform a dramatically high number of actions to earn significant returns. Remember the user journey of Jason from the first section?  

Chatex strips that challenge away by providing users with access to DeFi through the ultimate UX in the form of an all-familiar chatbot and chat interface. The Chatex Smart wallet is set up in seconds. And the most important part is that you can manage without leaving Telegram. It’s so simple that even your grandmother would be able to earn passive crypto income with Chatex! Below is an example of Chatex Savings in action. 

Zero Risks of Losing Funds to Scammers and Hackers

Scam projects and cryptocurrencies have been a persistent and common problem in the crypto market since its inception. DeFi is no different. In order to not fall victim to an elaborate trap disguised as a DeFi protocol that offers appealing yields but which is really only set up to steal one’s assets requires a hefty amount of research.

In terms of the security risks associated with DeFi, protocols can have smart contract bugs which are exploited by hackers, liquidity pools can have poor security and get drained, with bad actors making off with liquidity provider assets. Lending and borrowing functionality has also been exploited before. 

  • For example, in February 2020, a lending pool on was exploited, resulting in the loss of $11 million of user funds. 
  • Or what about Popsicle Finance losing $25 million of user funds due to a simple bug in the DeF protocols code? 

The security of user assets is paramount for the Chatex Cryptobank. Our application and backbone make use of only the absolute best and vetted DeFi protocols within the cryptocurrency ecosystem. However, if something negative were to happen, Chatex, being a legitimate Cryptobank, would bear all of the risks for the user, guaranteeing that their investments and returns are always safe. When using our application and the Chatex Savings feature, users never have to worry about the security of their assets. 


With our existing set of solutions that are actively utilized by a user base of over 325,000 and the simple, secure, and accessible manner through which individuals can participate in the cryptocurrency market and DeFi to receive passive crypto income through the Chatex Savings feature and high expectations for our upcoming $CHTX Token Sale, will allow the Chatex Cryptobank to change DeFi forever, for the better, and pave the way to accessing its protocols for the masses. 

We invite you to stay up to date with our $CHTX Token Sale by subscribing to our Telegram group and Twitter

Be ready for some great stuff!