Bitcoin dropped 58% last quarter and there is still a long way to go until the crypto market bounces back. As a result, those who chose to HODL their BTC instead of cutting their losses may be wondering how to make the most of their digital assets, while they wait.
One way to actually earn a profit, even during a bear market, with close to zero risk and absolutely no effort whatsoever, is with an interest-bearing wallet.
What is the upside of a wallet?
There are multiple advantages to storing funds in the right interest-bearing wallet. Primarily, if you choose a registered and authorized provider, you benefit from a secure home for your crypto. Then there is the money. While you get on with your week, your capital is working hard on your behalf generating a steady return, as opposed to just lying idly in an account.
There is none of the uncertainty faced by short-term traders on the highly volatile crypto market. Instead, without needing to lift a finger, you will earn interest just for storing your capital, and it is paid out with the same regularity, regardless of whether the market is in an upturn or a downturn.
To get a better idea of how interest-bearing wallets work, let’s use ArbiSmart (RBIS), an EU authorized digital wallet and crypto finance hub as our example. The project launched its new interest-generating wallet just a few weeks ago and it is already generating a great deal of buzz.
The wallet supports a wide selection of over 20 FIAT and cryptocurrencies from EUR, GBP, and USD to BTC, ETH, XRP, APE, BNB, AAVE, COMP, MANA, LINK, SHIB and AXS to name a few. Wallet holders can prioritize accessibility over earnings and choose to keep funds withdrawable, in an interest-free balance. Alternatively, they can open a long-term savings plan for a chosen time frame, earning a higher interest rate the longer the savings plan is locked.
Interest is paid out daily, and you can choose how to receive it. It can either be added directly to the capital in the locked savings plan balance or sent to a separate available balance where it can be accessed at any time without touching the money on which it is being earned.
How does it generate profits?
The ArbiSmart wallet generates industry-high passive profits of up to 147% a year. The exact amount of interest that you will earn on any supported currency depends on your account level, which is based on how much RBIS you own. In other words, more RBIS means higher interest on your Euro or your Bitcoin balances.
There are a number of other strong financial motives for buying RBIS, the most significant being that an RBIS balance will earn three times the interest of any other FIAT or cryptocurrency balance. However, if you prefer to keep your savings balance in BTC, or EUR you can still choose to receive the daily interest on your balance in RBIS for a higher rate.
How is the token climbing in a crash?
All these incentives to buy RBIS are driving token demand, which will further increase as the new wallet gains traction, attracting users over the coming months. Meanwhile, as more people lock RBIS in savings plans, the amount in general circulation will diminish leading to a reduced supply. As demand outpaces the limited token supply, the RBIS price should rise, even during a bear market.
Another factor pushing up demand is the fact that over the second half of this year, ArbiSmart is introducing a string of new RBIS utilities, including a mobile version of the platform, an NFT marketplace, an exclusive collection of thousands of unique digital artworks and a decentralized yield farming program, which will reward liquidity providers with 190,000% APY plus 0.3% of the fees from each trade.
At the end of Q4, ArbiSmart’s development team also aims to launch a cryptocurrency exchange as well as a gaming metaverse, where visitors can buy, develop and sell virtual real-estate for actual, real-world revenues. All these services are interlinked and use of one utility will be rewarded when using others in the ecosystem, so an NFT might boost points in the metaverse, for example.
According to recent analyst projections, the price of the coin is set to climb from today’s price of under a dollar to $14.5 by the end of the year and to $27 by the end of Q1 2023. So, in addition to interest of up to 147% a year, as well as profits from other revenue-generating utilities, users will also receive huge capital gains on the rising value of the token. To get in on the ground floor and purchase the token before the price shoots up, buy RBIS today!
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.