Updated on 16/06/2022
The Finblox team have been closely monitoring market conditions and the numerous media reports regarding a prominent institutional borrower, 3 Arrows Capital (An investor in Finblox).
The team have decided to take the following actions while pursuing all available options to evulate the effect of 3AC on the liquidity, and ensure fair treatment of all user’s assets in the system.
- Pausing reward distribution on the Finblox platform for all users
- Change withdrawal limits ( USD$500 equivalent per day, up to a maximum of USD$1,500 equivalent per month) for all levels of users
- Delay referral program and deposit rewards
- Disable creation of crypto addresses for newly registered users
Inflation is on the rise – in fact, prices are going up at one of the fastest rates since the 1980s.
Leaving your money in banks is no longer a feasible way of growing your finances at a sustainable rate.
This has driven many people to invest in crypto, and the global cryptocurrency market reached a value of US$1,782 billion in 2021. However, spot trading in crypto is just the tip of the iceberg.
Besides trading cryptocurrencies, investors can also engage in what is often dubbed as “riskier” ways to grow their assets, like leverage trading, yield farming, or NFT flipping.
What if you could earn up to 90% APY on your crypto passively?
Finblox is a high yield crypto savings platform where users can buy and grow their crypto portfolio. Users can earn up to 90% APY on selected cryptocurrencies.
At the time of writing, Finblox also has some of the highest stablecoin APYs in the market. Both USDC and USDT can yield a whopping 12% APY which is much higher than a lot of crypto saving platforms out there.
Besides staking stablecoins, you can also earn on more volatile assets, from Axie Infinity’s $AXS, to $APE. The image below shows the full list of available assets on Finblox.
Yields are accrued every day and best of all, there is no lock-in and users can withdraw anytime they want.
This is a breath of fresh air as compared to other staking platforms out there which require users to lock in their assets for a set amount of time
Competitive rates with no downside
If we look at the current market, Finblox is ahead of the curve by providing competitive rates with little to no restrictions.
It is currently leading with the best APY spread from 3.5% to a high of 90%. The APYs do not require any loyalty/membership levels or use their native tokens to get the highest advertised rates.
Unlike its competitors, there is also no lock-in period and also no withdrawal and deposit fees. Users get to keep all the yield earned on the platform.
Furthermore, cumbersome user interfaces that are difficult to navigate are a problem that plagues many decentralized finance platforms.
Users on Finblox will be pleased to find that the platform is intuitive and easy to use, making it suitable for both investors who are just starting out, and more advanced ones.
Credible team backed by Tier 1 VCs
Finblox was founded by fintech veterans Peter Hoang and Dmitriy Paunin, who are on a mission to democratize wealth-building for all.
Peter previously founded Gotrade, a zero-commission stock trading app backed by Y Combinator, while Dmitry was the Chief Technology Officer at Coins.ph.
Backing from notable names is one of the key factors to look out for when attempting to determine the credibility of a company in the crypto space.
Finblox received a staggering US$3.9 million seed funding from some of the biggest names in the crypto space.
The seed round saw participation from some crypto powerhouses like Singapore-based Three Arrows Capital and Silicon Valley’s oldest and most successful VC firm, Sequoia Capital.
Will your money be safe?
Fret not, all Finblox deposits are protected and insured by Fireblocks. Fireblocks is the world’s leading crypto and digital assets infrastructure provider that is trusted by over 1,200 institutions all over the globe.
To add another layer of security, there are additional encryption and fraud prevention services provided by Coincover.
Founded in 2018, Coincover combines both security technologies with insurance to protect digital assets from bad actors.
Earn passive income from your crypto in three easy steps
To begin using Finblox, simply download the application from your respective mobile app stores and register for an account within the app.
Tap “Deposit Now” to transfer from your wallet or other exchanges. You can also buy more crypto via Moonpay.
Once your crypto has been transferred to your Finblox account, you can start earning rewards compounded daily.
Start earning with Finblox
Overall, Finblox is a recommended platform both for seasoned investors and newcomers. The straightforward interface makes it easy to use and it is great for all users.
Furthermore, Finblox is able to produce high and stable returns that can rival or even outperform the average trading portfolio.
At the end of the day, Finblox is a reliable crypto saving platform that is safe and secure and is far better than the other alternatives out there.
Finblox is running a referral promotion where both the referrers and referees get rewarded up to 250 USDC for signing up.
Deposit now and start earning passive income on your crypto assets!
Finblox just launched its very own Web App. Now users can view, deposit and withdraw crypto all from the comfort of their web browser.
Find out more about Finblox here.
This article was written in collaboration with Finblox