Rocket Dollar has recently partnered with Alkemi. Alkemi Network is an on-chain decentralized liquidity network bridging the gap between centralized and decentralized finance by enabling individuals and institutions to earn yields on their Ethereum-based digital assets. In layman's terms, deposit your crypto assets with Alkemi to earn interest!
Section 1: Creating a wallet and connecting to Alkemi Earn
In order to use Alkemi Earn, you will need to use a Web3 wallet. While there are dozens of different Web3 wallets available, we recommend using the Google Chrome plugin for MetaMask. To learn how to install the metamask extension and set up a metamask account please refer to the PDF file at the bottom of this article.
Head over to earn.Alkemi.network, click EARN VERIFIED, and click CONTINUE
In the upper right corner, click CONNECT
There are multiple ways to connect to the Alkemi Earn protocol, choose METAMASK
Make sure you are logged into your Metamask account, then click NEXT
You are now connected to the Alkemi Earn protocol! Notice the color of the shield in the top right corner. If it is RED, your verification is not yet complete. If it is GREEN, you are good to go!
Section 2: Apply for Alkemi KYC
KYC, shorthand for "know your customer" is compliance that any financial company must complete verifying the identity of their customer opening bank or financial accounts. Learn more
Earn participants using the Verified pool are required to complete and submit Know Your Customer (KYC) documentation before using the protocol. Visit https://kyc.alkemi.network to apply.
Completed applications are typically processed within 24-72 hours. Upon approval, the participant's wallet address will be allow-listed for borrowing and lending in Earn.
Here are the required fields for KYC verification:
- Current Residential Address
- Physical Address
- City / Town
- Province / State
- Zip Code
- Country of Residence
- ETH Wallet Address
- Social Security Number
- Utility Bill / Statement
Section 3: Purchasing Crypto
(skip if funds are already in your Web3 wallet)
Purchasing crypto can be done via Alke
- Alkemi: https://docs.alkemi.network/alkemi-network/buy-crypto-with-fiat
- ErisX: https://trade.erisx.com/?product=BTC-USD