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Time to Collect Some Interest? Sell Your Freeway Supercharger

You’ve been earning at least 20% interest from Freeway, up to 43%, for some time. Perhaps even a year or more.

Now it’s time to convert some of that interest into cash to help you flourish during your retirement.

To do that, you’ll need to sell your Freeway Supercharger. This article walks you through everything you need to consider, and how to sell a Supercharger.

This process applies to every Supercharger in the global app, and to any amount you want to sell.

Plan Ahead

If you’re earning the maximum interest rate (43% or 21.5%, depending on the Supercharger), you agreed to a 30-day notice period.

This means that it will take 30 days before Freeway will send your Supercharger funds to your wallet.

So if you know you’ll need some funds on a certain date, be sure to sell all or part of your Supercharger 31 or 32 days ahead of that date.

That will let the funds clear the 30-day notice period, and give you enough time to receive them, convert them into fiat money, and have the money deposited into your bank account when you need it.

Keep in mind that as soon as you make a Sell request, the amount you’re selling will stop earning any interest for the length of your notice period. If you’re earning the 43% rate, that means the sell amount will earn 0% for 30 days.

Also keep in mind that the amount you withdraw will reduce how much interest you earn in your Supercharger going forward. For example, if you deposited $10,000 into your Supercharger and left it for a year, you’d have $14,300 at the end of the year.

If you leave your Supercharger whole for one year, your earned interest will be $4,300. Leave that amount to compound and you’ll start earning on the $14,300.

If, however, you withdraw $4,300 at the end of year one, you’ll earn interest only on the original $10,000.

As a guideline, if you divide 72 by the interest rate you’re earning, you can calculate how long it will take to double your money.

For a Supercharger earning 43%, that comes to a few days more than 20 months.

If you can afford to wait that long, you could double your money, then start withdrawing interest on a monthly basis and never touch the original deposit.

If you deposited $10,000 into your Supercharger, then left it for 21 months, you could receive $588 monthly forever (minus fees, which I discuss below). Or leave it until the end of year two and receive $600 per month forever.

If you left your money in a bank savings account, earning 0.1% interest, it would take you over 700 years to double your money. And at that point (700+ years later), you could withdraw just $20 per year without drawing down on the principal!

How to Sell Your Freeway Supercharger

Since this process applies to all the Superchargers, I’ll use the USD Supercharger as I walk you through the steps to sell some or all of yours.

To begin, click on the Sell button for the Supercharger on the dashboard page.

Click on the Supercharger's Sell buttonClick on the Sell button to begin the process of withdrawing Supercharger funds from your Freeway account.

That takes you to the Sell Supercharger section of the Supercharger’s page.

Select an amount, which crypto you want to receive, and which network to use to send the funds. Click Sell Supercharger when you’re done.

Enter the amount you want to sell, in U.S. dollars. If you want all of it, click on Max.

Next, click on the Select button in the Receiving section. Select which cryptocurrency you want to receive. Your options are:

  • USDT (Tether)
  • BTC (Bitcoin)
  • ETH (Ether)
  • BNB (Binance Coin)
  • USDC (USD Coin)

If you have an ADA (Cardano) or DOT (Polkadot) Supercharger, you can also sell those and receive your funds in ADA or DOT. You’ll have to contact Freeway Support to do that though.

Click on Support in the top right corner of any Freeway page. The Freeway Customer Support page will open. Click on New Support Ticket and let them know your needs.

Select the crypto to receiveClick on the crypto you want to receive. Sending USDT or USDC over the Ethereum network is expensive, so don’t select it (in the next step) if you have any other option.

If you select BTC, ETH or BNB, the tool will replace 0 USDT with the equivalent of your dollar amount in the selected coin.

Freeway goes a little overboard on the decimal places. Bitcoin goes eight places deep, as does BNB. Ether is the longest, at nine decimal places.

If you selected BTC, the Network autofills with the Bitcoin Network. If you choose BNB, it autofills with Binance Smart Chain.

If you selected ETH, USDT or USDC, you can choose between Ethereum Mainnet and Binance Smart Chain. Check with the exchange where you’ll be sending the crypto.

If it accepts ETH or USDT on the Binance Smart Chain, select that option. It will have lower fees, which Freeway charges you. The fee will reduce the amount Freeway sends to you.

The various fee options are:

  • BTC – 0.0001 BTC (roughly $3 at today’s prices)
  • BNB – 0.0005 BNB (roughly 15 cents)
  • ETH – .001 ETH (roughly $2)
  • USDT or USDC on the Ethereum Network – $20
  • USDT or USDC on Binance Smart Chain – $1

So definitely do not send USDT or USDC via the Ethereum Network (ERC20) unless you have no other option.

Next, at the exchange, copy the wallet’s receiving address for the coin or token you selected. Return to Freeway and paste the address into the Wallet Address field.

When completed, the form will look something like this:

A completed Sell Supercharger formThe Sell Supercharger form with all the information entered or selected. It’s time to click on Sell Supercharger.

Note: The form isn’t wide enough to see the entire wallet address. So click into the box and click the right arrow on your keyboard until you see the end of the address.

If both the beginning and the end of the address match the address at the exchange, you’re ready to complete the process.

If everything looks good, click on the Sell Supercharger button at the bottom of the form to complete the process.

Start Enjoying What You Earned While Staying Ahead of Inflation

Thirty days after you sell your Freeway Supercharger, you’ll be enjoying some of that 43% interest you earned.

And you’ll enjoy it more knowing that you’re staying ahead of inflation. Way ahead of inflation!

Not a Freeway Member Yet?

If you haven’t joined Freeway yet, now’s a good time to start earning more interest. Click the button below to join to earn a minimum of 20% on your savings.

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.