Kriptomat Savings offers you the perfect way to earn bank-beating interest from your crypto holdings without the need for any trading.
Not everyone wants to be an active crypto trader, making multiple transactions a day to stay ahead of the market and carefully timing their buying and selling to maximize profits by taking advantage of sometimes tiny price fluctuations.
So how do you make your digital currencies profitable, even when you want to be completely hands-off in your approach? Sure, you can make a few clever buys, bide your time and then rake in the profits when your chosen currency’s value rockets to spectacular heights, but in the meantime, you have money just, well, sort of sitting there doing nothing.
Remember when banks paid you real interest?
In the (by now distant) past, bank savings accounts offered you a great way to earn passive income. Leave your money with the bank of your choice and reap the rewards when they pay you interest. But in Europe, the average interest on savings accounts is now between around 0.2% for fixed period deposits and a frankly pointless 0.02% for overnight deposits.
And in any case, banks are yesterday’s news and the world of currency is changing irrevocably with increasing numbers of people switching to crypto due to the profits you can make when currency value increases, as well as the technological advantages it offers over traditional fiat currencies.
But some things are hard to let go of, especially the idea that your money should be earning interest if you’ve entrusted it to someone to hold and use on your behalf.
Kriptomat Savings offers you all the benefits of traditional savings account at a bank with two major advantages. Firstly, your account is in cryptocurrencies (as many as you hold), so you still get the benefits of price increases in the crypto market. Secondly, the interest rate makes what you’re earning at the bank look like a joke.
How the Kriptomat Savings account works for you
The beauty of the crypto ecosystem is its flexibility and the amount of control it offers the user, and we’ve made sure that the Kriptomat Savings account follows the same principles.
All you’ll need is a Kriptomat wallet, from which you can allocate crypto or euros directly to your savings account. Your interest is calculated monthly and added to your account at the beginning of each month. The interest rate will fluctuate based on several factors like which coins you own and other prevailing market conditions.
The money is yours to use whenever you want it, with no lock-in period or waiting for withdrawals. We’ll also send you a monthly update showing you the interest on your account, just like a traditional bank statement.
But where does the interest come from?
As a licensed and regulated cryptocurrency exchange, Kriptomat administers an impressive amount of blockchain staking and rewards accounts across the industry, which puts us in the fantastic position of being able to offer interest on funds that we hold on behalf of users.
Staking is essentially the practice of earning rewards for holding funds in a cryptocurrency wallet to support the security and operations of a blockchain network. It’s a great way to earn money from crypto, but it does require a lot of insider knowledge and work to know what, when and where to stake.
Our team of crypto experts researches and diversifies into these staking programs so that your Kriptomat Savings Account gives you the benefits of staking your coins without any of the usual legwork involved in doing so. This keeps you safe from scams while your money keeps working on your behalf, 24/7.
And, because Kriptomat is fully licensed and regulated in the EU, our savings account offers a safe and secure way to participate in cryptocurrency.
Double the benefits you get from the bank
We’re confident when we say that, if you’ve ever made a bank deposit, you’ll be able to use the Kriptomat Savings Account. We’ve put together some great guides and, as always, our focus when building this solution has been firmly on usability and creating an intuitive, seamless solution that serves your needs perfectly.
On top of that, our industry-leading customer service team will also be available to help you with any questions.
The Kriptomat Savings account is perfect for people who want to earn both the benefits of their cryptocurrency going up in price AND the passive income and reliable returns of a traditional interest-bearing account. It’s the best of the old world, improved by the finance system of the future.
This text is informative in nature and should not be considered an investment recommendation. It does not express the personal opinion of the author or service. Any investment or trading is risky, and past returns are not a guarantee of future returns. Risk only assets that you are willing to lose.