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Savings - Explained
Savings - Explained
Updated over 3 months ago

Savings is a deposit analog for assets. The user can choose a currency, period, and interest, put his money into saving, and earn crypto every day. We support fixed and flexible plans.

Once a user selects a plan, they initiate the savings process by making an initial deposit from their main account or wallet. This deposited amount is reserved from the primary account. Following the commencement of savings, the user receives daily rewards credited to their account each day. There is no cap on the savings amount, allowing users to enhance their daily rewards by making additional deposits. By clicking the deposit button and specifying an amount, users can boost their daily rewards until the last day of the saving period. Upon the conclusion of the saving period, if a fixed plan was chosen, the savings enter an active withdrawal phase upon reaching the expiration date. Users can initiate a withdrawal at a later time, during which the savings will retain the deposited amount but cease to accrue interest. At this point, the savings status transitions to "Ready for withdrawal.

After the user makes a withdrawal - the saving becomes archived. The user can find it on the archive page, with all the detailed info about this saving.

What is the Savings feature?

- The Savings feature allows users to deposit assets in their chosen currency and earn daily crypto rewards based on their selected fixed or flexible plan. Users make an initial deposit from their main account, which earns rewards without any savings limit, allowing for additional deposits at any time. At the end of the saving period, funds can be withdrawn, and the status changes to "Ready for withdrawal." Once a withdrawal is made, the savings are archived and can be viewed on the archive page.

What are Fixed Plans in the Savings feature?

-Fixed Plans offer a structured savings strategy with regular, predetermined contributions, making them ideal for long-term financial goals. This approach provides stability and discipline, often resulting in higher interest rates and encouraging consistent savings habits. Users can choose between 3, 6, or 12-month terms, enjoying increased returns upon maturity.

What are Flexible Plans in the Savings feature?

- Flexible Plans provide a dynamic savings approach that accommodates variable deposits, making them ideal for individuals with changing financial situations. This option offers liquidity and adaptability, catering to those with unpredictable incomes or expenses. There is no lock-up period, and payments are automatically processed daily, allowing immediate access to earnings.

What are Combo Plans in the Savings feature?

- Combo Plans offer an initial bonus and elevated interest rates, helping users make significant progress toward their financial goals. With a fixed duration of 8 months, users can enjoy enhanced returns upon maturity. This plan is ideal for those looking to optimize their savings with a structured timeline, making it a rewarding choice for anyone saving for a major purchase or building their financial future.

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