Crypto deposits will replace banking products
Profit from crypto deposits is 3 times more than from banking
Crypto Deposits – a Safe Alternative to Staking
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Traditional banking and exchange products are infiltrating the cryptocurrency market. Today, Bitcoin futures contracts, as well as Bitcoin options, have become popular among retail and institutional investors. Most recently, the StormGain cryptocurrency exchange presented a new product – crypto deposits. What it is and how you can make money on it, BeInCrypto discussed with CEO Alex Althausen.
– What are crypto deposits? What are the differences with bank deposits or none?
AA: Crypto deposits are a relatively new and highly demanded product on the market. It is very similar to a bank deposit with interest, but with its own advantages. Suppose a client has Bitcoin and wants to receive interest on it without risking it. Let’s compare with bank deposits.
Banks now offer very low interest rates, and money is usually “locked up” in the bank for a very long time: a year or more. If the client decides to withdraw his profit earlier, he will most likely lose the entire amount of the profit and earn nothing.
In a crypt, the deposit period is usually one month, and the profit will equal or exceed the same equivalent of a bank deposit for a whole year.
– How to apply for a crypto deposit? How much can you earn? Conditions? Term?
AA: A client comes to us, receives 10% per annum, risk-free for 30 days. As a result, you can earn 3 times more in a month than banks offer in a year! After all, now interest rates on stable fiat currencies (USD, EUR) do not exceed 0.5% in developed countries. In some countries, there are generally negative rates, that is, it makes no sense to bring money to the bank at all.
– In which cryptocurrencies can a crypto deposit be issued? In which cryptocurrencies do you recommend opening crypto deposits?
А.А .: We pay 10% for all major cryptocurrencies – these are BTC, LTC, ETH, XRP, BCH, USDT. You can see what currencies we pay interest on on CoinMarketCap, we are always in the top positions https://interest.coinmarketcap.com/
– Benefits and risks of crypto deposits?
А.А .: The advantage on our platform is that you can keep any crypt in your wallets and get 10% for all currencies without exception. That is, we do not ask the client to keep everything in USDT or BTC. What I like is the client and HODLit, while receiving passive income. There are no risks, except for the depreciation of the cryptocurrency and the collapse of the market – but I don’t believe in that. Again, all profits will be received in hard currency, for example, in USDT and can be immediately exchanged for fiat almost 1: 1.
– What is the difference between crypto deposits and staking?
Check out what’s on offer on staking – these are all altcoins, mostly without a rich history. That is, the topic is very risky in fact, the price of these assets is much more turbulent than major cryptocurrencies, and the capitalization is very small. Apart from EOS, I have not seen more or less stable altcoins among the steak ones, everything else is simply dangerous. Simply put, it is a big risk.
But on a crypto deposit, you can also earn from bitcoin, ether, USDT – these currencies are in the top in all respects – they are stable and well capitalized. If there is turbulence in the market tomorrow, altcoins will lose value much faster than majors.
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It is worth making an amendment that the entire industry is waiting for the massive implementation of the staking protocol on Ether and Vitalik Buterin has long been promising this model for the 2nd most important cryptocurrency. Once that happens, staking becomes fun, especially if the rewards are significant. Then there will be a real competitor for crypto deposits..
– What are the plans for the future to expand programs for clients?
A.A.: We have one of the coolest loyalty programs for clients – in addition to interest on the deposit, we offer trading bonuses, discounts on commissions, mining for all clients within the platform (yes, it’s free) and much more. We have something to offer for all types of clients – for both HODLers and traders – see for yourself https://stormgain.com/loyalty-program
– How do you think, will crypto deposits be able to replace bank deposits amid a decrease in interest rates??
AA: This is already happening. We see the most severe crisis caused by the wave of COVID19, businesses are closing, there are already 38 million unemployed people in the United States. At such a time, investors and ordinary people are looking for a way to save their money, earn money with minimal risks. That is why bitcoin has grown from 7k to 9k since the beginning of the crisis and continues to rally to 10k. It’s very simple – the amount of bitcoins is limited. These are not dollars, which you can print as much as you want, and not stocks, which fall by 30-40%. When an asset is limited in supply, it truly becomes a value. Therefore, gold grows. Therefore, it is worth investing in bitcoin.
– Thanks for the conversation!
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