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Earning up to 43% interest on your crypto is easy as pie once you have your funds in your Freeway account.
Getting your funds into your account takes some work though.
This article walks you through the two methods to buy a Freeway Supercharger.
If you’re a U.S. citizen or permanent resident, you have one method. If you live anywhere else in the world, you have two methods.
I discuss the method common to both first.
This is where the action takes place if you’re using the U.S. Freeway app. If you’re using the global app, you may find the OTC method earlier to use.
There are two options to reach the Buy Supercharger process:
Enter the amount you want to purchase. Click the green Add to Order List button.
You’ll see a green Success message in the bottom left of the web page.
And the shopping cart icon in the top right corner will now show the number 1.
Click on the cart button. An overlay will appear.
If you change your mind, click on the trashcan icon to the right of the Supercharger name to close the overlay and return to the Supercharger page.
In the overlay, you’ll notice something like @ 824.698737551173 sUSD = 1000.000000000000 USD
The “s” in sUSD indicates that you’ll receive a “simulant” of USD in exchange for the amount you’re depositing. Freeway gives you this simulant because it puts your crypto into a segregated account, which it doesn’t touch.
While it’s not a one-to-one conversion, when you decide to withdraw funds, you will receive the actual amount, not the simulant amount.
To make the purchase, click on the green Complete Order button.
When the page reloads, you’ll see the Payment and Payment Method sections.
In the Payment Method section, Freeway advises you to use BNB for the cheapest fees to send crypto for the purchase. You’ll see at the bottom the various prices for sending your assets.
On top of the 0.23% processing fee charged by the third-party payment provider, you also have to pay the fee the provider charges for its services:
At today’s prices (mid May 2022), those amounts come to roughly:
So use the BNB network (Binance Smart Chain — BEP20) if at all possible. You’ll save yourself a lot of money over what you'll pay with ETH or USDT!
Select the network from the menu (BTC is the default).
Then click Place Order.
Review all the information on the next page. Take note of how much of the crypto you have to send. In the screenshot below, 2.47739378 BNB is the equivalent of $1,000 USD plus the payment provider’s fees.
Be sure to include a bit more when making the transaction to account for the transaction and network fees from the exchange or wallet where you have your crypto stored.
Copy the address by clicking on the small icon next to the long string of characters. Or use your phone’s camera to use the QR code version of the address.
It’s time to head over to your exchange or wallet and send the amount of crypto required to complete the Supercharger purchase.
Once that’s complete, it will take a while for the funds to appear in your Supercharger. If you don’t see anything in an hour or two, contact Freeway support and have them investigate.
As I mentioned earlier, if you live outside the U.S. (and you’re not a U.S. citizen), you can use the OTC method to buy a Freeway Supercharger.
Click anywhere inside the blue border of the Supercharger on the dashboard page.
At the top of the page, click on Buy OTC in the lime green area. This opens a form for you to complete. This information goes to the Freeway staff, who will track receipt of your crypto assets and apply them to the correct Supercharger(s).
Click Start to enter the form.
If you want to stop the order process without sending crypto, click on the X on a red background in the top right corner of the form overlay.
This is where you select which crypto you’ll send to Freeway to buy your Supercharger. If you want to send USDT (Tether) or USDC, note that you have two network options:
Check with the exchange or wallet where you keep your USDT or USDC to see your network options there. Sending on BEP-20 is much cheaper, so if you can use that option, choose it here in the form.
In the screenshot above, I’ve selected UST - Terra Network. I made this choice because I’m funding my USD Supercharger, and because Terra Network fees are tiny compared to ERC20 fees.
Once you select your payment method, the form advances to the next question.
Terra (UST) is no longer available after TerraUSD and its related token, LUNA, crashed and never recovered in May 2022.
You can also move back to earlier questions by clicking the up arrow in the bottom right of the form, next to where it says “Powered by Typeform.”
Click on a Supercharger to select it. A white border and a checkmark on a white triangle in the upper right of the Supercharger tell you that you’ve selected it.
In the screenshot below, I’ve selected the USD Supercharger.
You can buy more than one with the funds you send, so the form doesn’t advance automatically.
If you want to buy two or more, click on the second one. Continue until you’ve selected all the Superchargers you want to buy.
To unselect one, click on it. The checkmark will disappear.
Click OK when you’ve made all your selections.
This is where you enter the amount of the stablecoin or crypto you want to send to this (and only this) Supercharger.
If you’re sending from an exchange or a rewards platform, determine what the final amount will be (the net amount after exchange and network fees). Enter that amount here.
If you selected two or more, you’ll be asked how much you want to allocate to each of them.
Click No. If you click on Yes, you’ll move back up the form to select another Supercharger.
Freeway provides the wallet address here for you to send your funds. This address is common to everyone using this network to deposit crypto to their Supercharger.
That’s why, as you can see in the screenshot below, the message says you’ll be asked for the Transaction ID in the next step.
Since each transaction is unique, Freeway staff use the Transaction ID to locate your funds and allocate them to the Superchargers you select here in the form.
Highlight and copy the entire wallet string of characters. In the screenshot above, it begins with terra1 because I’ll be sending my funds via the Terra Network.
I recommend you paste the wallet address into a text document (Notepad or TextEdit). Then compare what you pasted in to what you see on the form screen.
If even one character is missing from either end, the transaction may be lost forever, with no hope of retrieving your funds. So invest a few seconds to ensure you have the entire wallet address.
Click on I accept to continue.
The form will continue to the next step automatically.
You have to send the crypto to have a transaction. So take a few minutes and go to your exchange, rewards platform or wallet and complete the transaction.
Take note of the precise amount of the coin or token that you’re sending. If it’s different then the amount you entered earlier in the form, go back there and change the amount.
Once the transaction has been made, you’ll be given a transaction ID, which is a long string of characters.
Copy that character string, then paste it into the same text document you opened a few minutes ago.
Now paste it into the form.
This step is optional. I recommend typing in Account of [Your Name] as a backup to the Transaction ID to ensure the crypto is added to the correct account.
Click Submit to send the form.
You’ll see a message saying thanks and advising you that your request will be processed within 1-2 business days.
I’ve found that my Superchargers usually have the funds in a few hours. So check back in 6-12 hours. If you don’t see the funds yet, check again in another 12 hours.
And when you do see your funds there…
If you’re like me, you’ll likely log in to your account for the first few days to see how much interest you’ve earned on your Supercharger.
After a while, it will become almost ho-hum. At least once a month, come back to your account to reset the FWT token’s staking period.
That will ensure that your tokens will continue to earn 15% to 30%, deposited into your preferred Supercharger’s account.
And when you want to top up your Supercharger, or start earning on another one, return to this page to review the steps to buy a Freeway Supercharger.
If you’re not a Freeway member, you’re missing out on a lot of inflation protection.
Why not join today? You could start earning up to 43% annual interest, starting tomorrow.
Click the button below to sign up.
Disclosure: If you join using the button, you’ll receive a bonus of 2% of the interest you earn, for the next two years. Freeway will also pay me for referring you.