Don't Trust the Bank? Store your Fiat and Crypto Like This Instead

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The crisis in the banking industry, currently making headlines, has so far led to the collapse of three US crypto-friendly banks Silvergate, Signature, and Silicon Valley Bank (SVB). 

The contagion has also seemed like it might be spreading to Europe with recent concerns over Credit Suisse. As a result, crypto owners are looking for a safer home for their digital capital and by the far the most stable and profitable option is an interest-bearing wallet. 

Interest-bearing wallets provide you with the opportunity to store your funds securely, while earning a passive profit from your savings. 

They offer a consistent return, whichever direction the market is moving, so even if prices suddenly tank you will continue to receive the same interest rate for the duration of your savings plan contract.

An interest-bearing wallet functions similarly to the way in which a bank will use your capital to make investments and in return, will pay you interest. 

By locking your funds in a wallet savings account that is closed for a set period, you are allowing your cryptocurrency to be put to work for a certain purpose such as, day trading, providing loans or arbitrage trading and you will be financially rewarded for the use of your capital.

As with a bank account, the process is straightforward. You open a savings account and deposit funds, on which you will earn you a passive profit. 

The amount you earn will differ depending on the wallet you pick and will be calculated based on the type of savings plan, the amount of time the balance is locked, and the size of your deposit.

Wallet savings plans offer numerous benefits, and primary among