One way to get more financial freedom is saving. Many people who open an account with traditional banks usually go for the savings account option. Savings is one way to prepare for an emergency or increase your means of accumulating wealth. However, the traditional banking system and its savings policy do not favor the local mass. There are a few disadvantages to saving your money with traditional banks.
- Low-Interest Rates:
The interest rates offered by traditional banks are low compared to other forms of investments.
- Minimum Balance and Withdrawal Requirements:
Many savings accounts have a minimum balance requirement. They also charge for maintenance. Most times, the maintenance charges are larger than the money earned monthly. One ends up losing more than they saved with traditional banks.
- Rate Volatility:
The interest rates on savings accounts with traditional banks vary. Traditional banks can set or change interest rates as they like and this does not mean well for those who save with traditional banks.
Inflation could eat up the value of your earned interest if your savings account does not pay a competitive interest rate. You end up having an account balance that is less than what you started with.
Crypto-Save allows you to create savings plans and save your crypto assets for three months, six months, or for a year. Here is a list of cryptocurrencies supported and your APY at the end of the year.
How to Save your Crypto Assets with HaggleX
You can start an amazing savings journey with just a few steps. Here’s how you can start saving and earning from your crypto assets with HaggleX.
- Create an account on the HaggleX app
- Verify your email and complete your KYC verification
- Click on the “Crypto Savings” tab
- Choose which digital assets you want to save
- Create a name for your savings plan
- Choose which savings plan you want to go for. You have three options where you can save your assets either for three months, six months, or for a year.
- Click on the proceed button and you’re good to go. You can add funds to your savings account.
With just a few steps, you can save your digital assets on HaggleX. HaggleX also introduces a policy that helps you develop discipline with your saved assets. You pay a 5% penalty fee when you cancel your savings plan before time.
Download the HaggleX app on your Google Play Store or Apple Store for free.
Google Play Store: https://play.google.com/store/apps/details?id=com.hagglex.hagglex