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Bitcoin Savings On Bitnob

Get to know more about Bitcoin savings plans on Bitnob

Mosope avatar
Written by Mosope
Updated over a week ago

Saving in Bitcoin or buying Bitcoin is a great way to hedge against inflation of fiat currencies, and employing an investment strategy such as Dollar-cost-averaging (DCA) instead of buying Bitcoin with a lump sum, is a smart way to protect your asset against the price volatility of Bitcoin, thereby protecting you from loss, long term.

On Bitnob, you can create a Bitcoin savings plan with as little as $1. You can choose daily, weekly, or monthly automated savings, and you can activate your plan to run for 3 months, 6 months or 1 year. Fun part? You can have multiple active plans and save towards different projects.

1. How much can I start my Bitcoin savings plan with?

You can start your Bitcoin savings plan with $1 daily, weekly, or monthly. For the automated savings to work seamlessly, you can fund your USD wallet with up to $30 for daily savings of $1.

2. What is the minimum and maximum period that I can lock my Bitcoin savings plan?

The minimum lock period for your Bitcoin savings plan is three months and the maximum lock period for your Bitcoin savings plan is 1 year.

3. Can I have multiple active savings plans?

Yes, you can have multiple active savings plans. Simply click on plans > create a plan.

4. How can I earn from saving on Bitnob?

There is no interest on Bitcoin savings because Bitnob doesn’t invest your money. However, with long term investment using DCA, you get to acquire more satoshis bought at different price points, which in turn becomes more valuable as the price of Bitcoin increases.

5. Can I pause my plan?

Yes, you can pause your plan. Simply click on plans > select the exact plan you want to pause > click on pause.

6. Can I roll over my plan?

Yes, you can roll over your plan. Simply click on plans > select the exact plan you want to roll over > click on roll over.

7. Can I withdraw from my plan before the maturity date?

Yes, you can withdraw from your plan before the maturity date. However, a 3% penalty fee is attached to breaking your Bitcoin savings plan.

8. When can I withdraw from my plan upon maturation?

You can withdraw from your savings plan 1 day after your plan has matured.

9. How is my plan funded?

Your USD wallet funds your Bitcoin savings plan.

10. What is a lock period?

A lock period is a period in which you have instructed the app to automatically debit your USD wallet to fund your Bitcoin savings plan(s). Simply put, if your lock period is three months, it means that you have an active plan for three months, and the app will always debit your USD wallet for three months.

11. Why is my return showing red in my investment balance even though BTC has gone up?

The returns in your investment balance may be red even if the price of BTC has gone up if the current price of BTC is still lower than your average BTC price point of purchase. This turns green when the current price of BTC becomes higher than your average BTC price point of purchase. To learn more about your average price purchase, tap on savings > tap on your plan and go through the summary of your savings plan.

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