As we enter 2023, many crypto holders are rethinking how they secure their funds, particularly considering the recent FTX scandal, and the new features of ArbiSmart project and they are using new criteria to decide how to store their crypto, profitably, and reliably.
Here is a brief but complete checklist of what to look out for when picking a crypto wallet.
- Go for an Interest-bearing Wallet
There is absolutely no point in just letting your money sit idle. Even when you are not actively investing, your money should be hard at work. For this reason, it makes sense to pick an interest-bearing wallet. Risk is minimal as you are earning in a bull or bear market, whether or not the price of your crypto appreciates.
Every wallet offers different terms, fee structures and interest rates, but whichever you choose, the return is almost guaranteed to be literally at least a hundred times larger than the rate offered by a traditional bank. For example, one of the most popular wallets with crypto investors is ArbiSmart project, which offers interest rates of up to 147% a year.
- Make Sure It’s Secure and Reliable
The FTX scandal shone a bright light on a familiar issue for digital currency owners – the under-regulation in the crypto space. In the second you decide to place your hard-earned crypto assets in a wallet you need to be certain they can act as a responsible custodian for your capital.
The wrong wallet can mean the loss of all your money, from lax security, or gross mismanagement of funds.
Crypto analytics site, Kryptomonitor, in a recent article spoke to the issue of shaken faith in even the most established services providers, suggesting that trust can be only restored by reputable industry players, setting a higher standard. The article also mentions ArbiSmart as one of these trusted EU authorized and registered service providers.
- Prioritize Customization – Your Needs Change
Another important factor to consider is that your financial requirements are dynamic and in a highly volatile market, you may have rapidly changing needs and wish to diversify your asset holdings. You want a wallet supporting multiple currencies with long-term and short-term savings plan options.
Going back to our ArbiSmart example, users can open balances in 28 different FIAT and cryptocurrencies, locking funds for brief stretches of just 1 or 3 months or for longer periods of 1.5, 2, 3, or 5 years
- Check the Wallet Terms
ArbiSmart project has recently added two such features:
- The loyalty feature enables users who renew a savings plan within 90 days of expiry, for the same period again, will receive up to 10% of the initial interest rate as a reward. This means that if you had an 18-month plan that earned 20% and you extended the plan, then your new plan would receive 22% interest
- The currency purchase feature enables anyone buying currency via the ArbiSmart project dashboard to receive a discount of between 10% and 50% on the purchase. So, if you buy €1,000 worth of ETH with a 25% discount, you pay just €750. But will receive the full €1K worth of Ethereum at the end of the vesting period. Every time you buy FIAT or crypto, the dashboard shows the conditions that need to be met to receive each discount amount. Including, the length of the vesting period, the size of the currency purchase, and in certain cases, whether an additional amount of RBIS. The native token is also locked for the duration of the vesting period.
- See What Other Products and Services They Offer
Often a project will offer a wallet as part of a broader ecosystem of crypto products and services, each of which adds new utilities to strengthen the native token and boost overall liquidity. When these utilities are interconnected it can guarantee better terms when purchasing, storing, exchanging, staking or investing currencies across the ecosystem.
ArbiSmart project is powered by the RBIS token, which is projected to rise to over 200 times its current value by the end of this coming quarter, as a result of the new RBIS utilities planned for launch in the first half of 2023. These include a global cryptocurrency exchange, an NFT marketplace, and a DeFi protocol offering a yield farming program, with an innovative, gamification twist. Participants will be able to increase their APY from staking, with exclusive ArbiSmart NFTs, that will have unique point-boosting characteristics.
Whether you opt for ArbiSmart project, or another wallet, it’s critical that you don’t leave the profitability and security of your crypto capital up to chance. Make an informed decision, guaranteeing that whichever direction the market is moving, your crypto is working steadily on your behalf.
Don’t lose another day. Open an interest-generating wallet now!
*This article was paid for. Cryptonomist did not write the article or test the platform.