AQRU review 2024
- Fiat currencies
- Supported assets
AQRU does what it has set out to do - give customers a chance to earn competitive rates on their crypto holdings. This combined with the fact there are no deposit fees for bank or crypto transfers and no lock-in periods for crypto assets invested, make it an innovative platform. Its crypto services are based in Bulgaria and the site says it's not for UK retail investors, but professional investors.
The interface is easy to use and AQRU covers off the major cryptocurrencies of Bitcoin and Ethereum, as well as supporting stablecoins. Just be aware that there is a minimum deposit amount. Also, there is a relatively high fee for crypto withdrawals, charged in the asset you are withdrawing.
No fees on fiat deposits or withdrawals
Easy to use interface
Single all-in exchange cost of 0.35%
Limited supported currencies
Not registered with FCA
Minimum deposit of €100
High fee for crypto withdrawals
|AQRU Cryptocurrency Exchange
|GBP, EUR, USD, CAD
|USDT, USDC, DAI, BTC, ETH
|Free for bank transfer, card fees apply
|Free for fiat, $20 for crypto
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
- The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
- The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
- The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
- The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
- There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
- Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
- Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
- You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
- Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
Overview of AQRU
AQRU was established to create a platform where customers have the chance to earn yields on their crypto holdings through a simple and easy to use platform. Its crypto services are based in Bulgaria and the site says it is not for UK retail investors but for investment professionals only. It offers a maximum 3% return when investing stablecoins such as USDT, USDC and DAI, and up to 1% with BTC and ETH. It has also expanded its services to include a crypto exchange, which charges one single all-in cost of 0.35% commission on each exchange and offers institutional exchange rates.
AQRU has kept its fee structure straightforward – there are no fees for bank or crypto transfers or when purchasing crypto, and no fees for fiat withdrawals. There is also no lock-in period, so investors can withdraw funds and receive them within 24 hours.
It’s important to understand that AQRU acts as a custodian of investors’ crypto assets and has full control once funds are deposited. It lends out digital assets to institutional and retail borrowers as well as participating on decentralised exchanges. However, it states that funds are 100% collateralised which makes funds easily accessible.
- The site is for professional investors, not UK retail investors.
- If you’re switching exchanges. You could earn a yield on your crypto assets, and benefit from a single charge on its exchange.
Finder Ratings for AQRU
|Transferring money or assets
|Fees and costs
|Ease of use
What to know about AQRU
AQRU is designed to enable crypto investors to earn a yield on their digital assets. It does this by lending out crypto assets to institutional investors and retail borrowers, as well as participating in and supporting decentralised exchanges. The level of yields is driven by the market and paid out in cryptocurrency. As a result, as the crypto market develops further and matures, we may see rates reducing.
It promises no-lock in periods. It’s worth knowing that the company is not registered with the UK’s Financial Conduct Authority as it is based in Bulgaria, but it is a subsidiary of Accru Finance, which is registered in England and Wales. Crypto is not regulated but companies with a UK base must register with the watchdog for anti-money laundering checks.
AQRU has a crypto exchange. Much like its earn service, this has transparent pricing and institutional exchange rates.
AQRU’s return rates are linked to stablecoins and the top tier cryptocurrencies of BTC and ETH. You can deposit the following coins via a crypto transfer:
How much yield investors might earn on your crypto assets will depend on which cryptocurrency they choose to invest.
For its crypto exchange, investors can buy, sell or trade the following coins:
Transferring fiat and cryptocurrency
There are several options for transferring fiat or cryptocurrency to AQRU. To deposit fiat, investors can choose between making a bank transfer or a credit card payment. There may be fees attached to card payments. Alternatively, investors can choose to transfer an existing crypto balance. Supported coins include BTC, ETH, USDT, USDC and DAI.
For crypto deposits, there is a minimum deposit amount of $100 of the deposited cryptocurrency. Similarly for fiat deposits, investors will need to make a minimum deposit of €100.
When it comes to withdrawals, investors can either withdraw crypto from their account or withdraw fiat to an account in their name. The account receiving funds must match the name registered to the AQRU account and must be within a country supported by SEPA.
Fees and costs
AQRU has minimal fees and aims to be transparent with the ones it does charge. There are no fees for bank transfers or crypto deposits. However, there are fees attached to card payments, but these are charged by the card provider.
There is a $20 withdrawal fee for crypto withdrawals, which is on the high side, charged in the asset you are withdrawing. But there is no fee for fiat withdrawals.
For its exchange, it has an all-in charge of 0.35% commission for each exchange transaction. AQRU also only charges the institutional exchange rates, so you can benefit from the same rate it gets on its own exchanges.
Fiat withdrawal and deposit fees
Crypto withdrawal and deposit fees
|$20 charged in the coin you withdraw
What is it like to use AQRU?
AQRU has a simple interface which makes it easy to get started investing your crypto assets.
Signing up is simple, with the whole process taking less than 20 minutes.
Powered by onfido, the KYC process can all be done through your phone.
AQRU’s app is easy to use, enabling deposits within a few clicks.
Does AQRU have good customer support?
If you want to contact AQRU you can submit a form through its website, use its chat feature or send an email to email@example.com. Response times vary slightly, although you should hear something back that same day. AQRU promises a response in under an hour if you use its chat feature.
Reviews on Trustpilot are also positive, with several reviewers commenting on how helpful and responsive AQRU’s customer service team had been.
|Contact us form
|Within an hour
List of services on AQRU
AQRU’s main selling point is its earning product, so its other services are fairly limited.
Signing up on AQRU
Go through a step-by-step guide on the sign-up process, and how to pass KYC.