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With the rise in popularity of cryptocurrencies, the area of services is also expanding. From crypto wallets to crypto fixed deposits, we have it all. Yes, that’s right, crypto FDs are a thing now!
One of the oldest homegrown cryptocurrency platforms, Zebpay has launched a first-of-its-kind crypto lending model in India that allows people to earn interest on their crypto holdings.
And we’re here to talk all about it and more! Let’s get started!
An Introduction to ZebPay Fixed Deposits
In a traditional fixed deposit, a lump sum amount is given to the bank for a fixed tenure at an agreed rate of interest. At the end of the tenure, the user receives the amount you have invested plus compound interest.
However, when someone deposits cryptocurrency, they are not transferring the money. They are transferring ownership and access to their crypto.
Zebpay has launched a first-of-its-kind crypto lending model that allows people to earn interest on their crypto holdings. The lending facility works more like the regular fixed deposits and will be available in two options — open term and fixed term. The fixed-term allows investors to park their cryptos in a deposit for up to a 90-day period.
Depending on the term of deposit, users will be able to generate returns of up to 3% on their Bitcoin, up to 7% on Ethereum and Dai, and up to 12% on Tether.
How does Zebpay work?
“Paisa hi paise ko khichta hai? Ab se, crypto bhi crypto ko kheechega!”
That’s the motto Zebpay is working on!
The two ways we talked about in which users can invest — open term and fixed term. Let’s discuss this in detail!
Zebpay Open Term
- Under an open-term deposit, you will be paid a return as applicable for the day.
- These returns will be deposited into your trading wallet daily.
- You can return your crypto back to your trading wallet at any time. The amount you deposit will be returned immediately.
- As a day trader, you can take the advantage of an open-term deposit to earn additional returns without locking in your crypto.
Zebpay Fixed Term
- Under the fixed term deposit, you can lend your crypto for 7-day, 30-day, 60-day, and 90-day periods.
- The rate of return will vary depending on the period you opt for.
- The returns earned, along with the principal amount will be deposited into your trading wallet at the end of the term.
- You can withdraw these coins at any time before expiry. However, a penalty will be levied on the returns.
Now that we’re aware of the basics of crypto FDs and ZebPay, let’s see another platform that has recently launched crypto fixed deposits!
Vauld: Build Wealth Automatically With Crypto
Vauld intends to treat your cryptocurrencies as a separate asset class and offer services to ensure technologies based on blockchain are usable as of today. This would negate the need for government acceptance and nationwide adoption of cryptocurrencies to disrupt the banking sector.
How can you earn interest on your Bitcoin and other crypto assets?
Vauld allows you to earn interest on your Bitcoin and other cryptocurrencies as soon as you deposit your funds. The interest is calculated daily, and the payouts are rolled out weekly. You can withdraw anytime.
The minimum deposit is $1 worth of tokens. There is no limit on the maximum deposit. The tokens are reflected instantly in your account except for Bitcoin which usually takes one to six hours.
Fixed deposits offer higher interest rates. The locking period can be one, three, or six months and there is no penalty charged for opting out. If you opt-out, you will receive fixed base interest rates for the duration in which you have deposited.
Why choose Vauld?
There are plenty of reasons why one should invest in Vauld, some of which are listed below!
- Vauld provides a beginner-friendly interface.
- The application is also available on Android and iOS platforms.
- You can check your transaction history and filter it according to your need.
One of the many amazing features Vauld offers is that they provide you with a customizable dashboard to manage and track your funds.
- Vauld uses Multi-Factor Authentication to secure your account.
- Vauld’s custody partner is BitGo, one of the highest trusted custodians in the crypto industry.
- There is a minimum deposit, transaction fee, and minimum and maximum withdrawal for every token. There is no deposit fee.
- The customer support is great and almost instant.
All in all, they make for a great platform that you definitely don’t wanna miss out on!
ImmuneBytes is a crypto audit company that employs the industry’s best tools and practices to provide a comprehensive smart contract audit. We have a team of robust and experienced security professionals who are adept at their niches and provide you with quality service. We have worked on 175+ projects spread across the world on different Blockchain frameworks with some of the industry’s top firms and we continue to unfold the decentralized movement.
We are also providing consultancy, coming up with a bug bounty platform, and also an insurance product to provide our clients with a hassle-free security product catalog. Stay tuned.