As 2023 begins, many crypto owners are rethinking how to secure their funds, especially in light of the recent FTX scandal and the new features of the ArbiSmart project, and are using new criteria to decide how to keep their crypto profitable and reliable save on computer.
Here is a short but complete checklist of what to look for when choosing a crypto wallet.
- Go for an interest-bearing wallet
It makes absolutely no sense to just leave your money lying around. Even if you’re not actively investing, your money should be working hard. For this reason, it makes sense to opt for an interest-bearing wallet. Risk is minimal as you earn in a bull or bear market regardless of whether the price of your crypto goes up or not.
Each wallet offers different terms, fee structures and interest rates, but whichever one you choose, the return is almost guaranteed to be at least 100 times higher than the rate offered by a traditional bank. For example, one of the most popular wallets among crypto investors is the ArbiSmart project, which offers interest rates of up to 147% per year.
- Make sure it’s safe and reliable
The FTX scandal shed a bright light on a well-known problem for digital currency owners – under-regulation in the crypto space. The second you decide to place your hard-earned crypto assets in a wallet, you need to be confident that they can act as a responsible custodian of your capital.
The wrong wallet can mean losing all your funds due to lax security or gross mismanagement of funds.
Crypto analytics website Kryptomonitor addressed the issue of shattered trust in even the most established service providers in a recent article, suggesting that trust can only be restored by reputable industry players who set 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 needs 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 that supports multiple currencies with long-term and short-term savings plan options.
Coming back to our ArbiSmart example, users can open funds in 28 different FIAT and cryptocurrencies and lock funds for short periods of just 1 or 3 months or for longer periods of 1.5, 2, 3 or 5 years
Each wallet has its own terms of service, including waiting times, transaction fees, and other potential fees. On the other hand, they can also offer loyalty points and other profit-boosting features to help wallet users increase their crypto earnings.
The ArbiSmart project recently added two such features:
- With the loyalty feature, users who renew a savings plan for the same period within 90 days of expiry receive up to 10% of the original interest rate as a bonus. That means if you had an 18-month plan that was earning 20% and you renewed the plan, your new plan would earn 22% interest
- The currency purchase feature allows anyone who purchases currency through the ArbiSmart project dashboard to receive a discount of between 10% and 50% off the purchase. So if you buy €1,000 worth of ETH with a 25% discount, you only pay €750. However, at the end of the lock-up period, you will receive a full €1,000 worth of Ethereum. Every time you buy FIAT or crypto, the dashboard will show the conditions that need to be met to get the respective discount amount. Including the length of the hold period, the amount of the currency purchase and in certain cases whether an additional RBIS amount is required. The native token is also blocked for the duration of the blocking 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 adding new utilities to strengthen the native token and increase overall liquidity. When these utilities are connected, better terms can be guaranteed when buying, storing, exchanging, using, or investing currencies across the ecosystem.
The ArbiSmart project is based on the RBIS token, which is expected to grow to over 200x its current value by the end of the coming quarter, driven by the new RBIS utilities, which are scheduled to launch in the first half of 2023 is. These include a global cryptocurrency exchange, an NFT marketplace, and a DeFi protocol that offers a yield farming program with an innovative gamification twist. Competitors can increase their APY by staking with exclusive ArbiSmart NFTs that have unique point-boosting properties.
Regardless of whether you choose the ArbiSmart project or another wallet, it is important that you do not leave the profitability and security of your crypto assets to chance. Make an informed decision and ensure that your cryptocurrency is working steadily for you no matter what direction the market is moving.
Don’t lose another day. Open an interest-generating wallet now!
*This item has been paid for. Cryptonomist did not write the article or test the platform.
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