Morgan Stanley says changing to Proof of Stake might not solve Ethereum's scaling problems. An equity strategist for Morgan Stanley claims Ethereum beacon-mainnet merge will cause demand for graphics processors to plummet in the coming months. The Ethereum platform has been undergoing a parade of testnets preparing for its merge with Beacon Chain. This merge is a move to facilitate the blockchain's transition from operating a Proof of Work model, to Proof of Stake. The PoW consensus model understandably…
An innovative new financial service called Viubank offers customers a way to earn interest on their long-term savings accounts. The concept depends on the cooperation with ELG bank, which brings together traditional and crypto-based financial expertise.
Viubank is an innovative banking initiative promising simple access to fixed deposits that pay set interest rates. Depending on your preference, you can get daily, weekly, or monthly benefits.
Thanks to its Vanuatu banking license, every depositor can open an account on this platform. The following subsections sum up the essential details of this new project for our readers.
Exploring ViuBank’s Services
ViuBank’s product offer features three services:
- Fast transfers: the project wishes to introduce an easy and secure money transfer system. This mechanism will let you send funds to other banks or any beneficiary having an account at ViuBank. In the latter case, the money transfers will be immediate. If you are transferring money out of ViuBank’s system, you may need to wait for 1-2 days.
- Deposit funds: ViuBank’s proprietary payment system allows its customers to make crypto deposits.
- Withdraw funds: Those who have accounts with ViuBank can withdraw money from them. Because no withdrawal will happen without verification, this project’s safety is further enhanced.
How Can You Join ViuBank?
If you are eager to join ViuBank, you must go to the project’s website and complete the registration form. While doing so, you will notice that the system requires several details from you. Just fill in your data, and you will quickly be ready to start investing with ViuBank.
Coinbase is a payment method you may use to fund your account. BTC, ETH, LTC, DOGE, USDC, and BCH are all acceptable forms of payment. All you need to worry about is selecting a deposit method from the drop-down menu.
There is no need to create an account with Coinbase to deposit your funds; ViuBank will not force you to do it. At this point, you will only have to choose the exclusive FDR plan that best fits your style to collect passive income.
The project will provide new users with a free reward of $10 to start on the platform. It does not end here: the system allows investors to set up a weekly or monthly plan in USD.
You can complete this operation by using all the coins featured on the platform. Specifically, the team mentioned the possibility of using BTC, ETH, and other coins.
In terms of security, the project uses an email and SMS-based authorization system for accessing the account.
The team unveiled a strategic partnership with ELG Bank, which hosts all the bank accounts for this project. The founders were happy to announce that this partnership protects dollar deposits up to $500,000.
ViuBank’s Secret Sauce
An annual percentage yield, or APY, considers the interest that accrues on top of the initial deposit. A return on your initial deposit and the interest gained from that interest is what you’ll get from this strategy.
From the date of your first deposit of $1,000, you’ll get an interest payment of $180 a month. Do not worry: you will get your initial $1,000 back after the time is up. This is just an example we can build on a 90-day plan with an 18% monthly return.
However, depending on the digital assets, there may be greater dangers associated with earning income with crypto. A fixed deposit receipt from Viubank might help you earn income while keeping your money secure over a lengthy period.
ViuBank’s Differentiated Offer
On fixed deposits, Viubank promises customers a guaranteed rate of return. It’s possible to earn anywhere from 2-percent weekly interest to 1-percent daily interest. As we explain below, the return varies depending on which program the buyer selects.
Specifically, you will find the following offers on ViuBank:
- 90-day plan: the team expects to deliver profits every 30 days under this plan at an 18% profit rate.
- 180-day plan: in this case, the founders promised the distribution of a 21% profit rate every 30 days.
- 365-day plan: the most advanced program features a 1% profit rate distributed daily.
All the plans above require a minimum deposit of $100, with different maximum amounts. Specifically, the 90-day plan has a limit equal to $10,000, while the 180-day option’s threshold is $50,000. If you choose the 365-day plan, you’ll have a cap set to $100,000.
You will not be able to withdraw your funds before the end of the plan. In other words, you will have the choice of locking your money for 90, 180, or 365 days.
Bringing banking expertise to the decentralized crypto world is the goal of ViuBank, a brand-new enterprise. While working for multinational firms, ViuBank’s CEO Seng Yeap Kok earned excellent marketing knowledge.
The market will evaluate this project’s aims and viability shortly. We’re waiting for further developments from ViuBank on the initiative’s official website and social platforms.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More