What are the changes to CoinZoom Earn?

CoinZoom Earn is changing to meet the needs of our growing customer base as the regulatory environment evolves. Beginning March 24, CoinZoom Earn will be available to all non-US customers and accredited US investors. 

CoinZoom is also offering non-accredited investors in the US the opportunity to join the Staking Rewards program to earn crypto without having to meet the investor accreditation requirements. 

Why is CoinZoom making this change?

The changes to CoinZoom earn are a result of the regulatory environment in the United States which is designed to protect non-expert investors. CoinZoom wants to make sure that investors can trade at a level commensurate with their abilities and experience.

What happened to my Earn funds?

The total value of your portfolio remains the same. If you were participating in the Earn program and are a non-accredited US investor, all your funds in the earn program have been transferred to your Trade wallet. 

If you live outside the US or are an accredited US investor, the only change to your Earn wallet is that any money in US dollars has been transferred to your Trade wallet. USD is no longer eligible for earning interest. 

What do I need to do to join Earn?

To join the Earn program, you will need to apply for recognition as a US accredited investor. Follow this link to apply: Accredited Investor Verification.

What is an accredited investor? 

An accredited investor is defined by the United States as a natural person anyone who:

  • Earned income that exceeded $200,000 (or $300,000 together with a spouse or spousal equivalent) in each of the prior two years, and reasonably expects the same for the current year
  • Has a net worth over $1 million, either alone or together with a spouse or spousal equivalent (excluding the value of the person’s primary residence)
  • Holds in good standing a Series 7, 65 or 82 license.
    Financial professional licenses: The General Securities Representative License Series 7, the Private Securities Offering Representative license Series 82, and the Licensed Investment Adviser Representative Series 65.

There are other categories of accredited investors, including the following, which may be relevant to you:

  • Any trust, with total assets over $5 million, not formed specifically to purchase the subject securities, whose purchase is directed by a sophisticated person
  • Certain entities with total investments over $5 million, not formed to specifically purchase the subject securities
  • Any entity in which all of the equity owners are accredited, investors.

Why can’t I earn interest on USD? 

The US dollar is no longer eligible to earn interest in CoinZoom's exchange to stay compliant with factors relating to security regulation. One option is to purchase a stable coin based on the dollar, such as USDT or USDC with the USD you had in your Earn wallet.