Fixed deposit is a term in the banking world. However, please note, that this one term also exists in the crypto world.
Basically, a fixed deposit in banking terms means a financial instrument provided by a bank or non-bank financial institution that will provide investors with a higher interest rate than a regular savings account, until a given maturity date. For information, a fixed deposit itself is the most popular form of deposit. As explained earlier, this type of deposit will offer a higher interest rate than a savings account, with the longest term being 10 years. Usually, the longer the term of the deposit, the higher the interest rate offered.
As for the crypto world, one of the digital asset investment platforms that provide fixed deposits is Tokenomy Earn. Then, how to do it in Tokenomy Earn, what are the products, and what is the minimum deposit amount?
To find out the answer, see the full review below.
What is Fixed Deposit?
Quoting the explanation on the Tokenomy Youtube channel, the definition of a fixed deposit is an investment opportunity for digital futures assets, where you can keep your assets for a certain period, to earn interest. However, before going into the discussion on how to make a fixed deposit on Tokenomy, you should first understand what the differences are between fixed deposits in banking and the crypto industry, including the following:
- Fixed deposit in Tokenomy Earn is a sophisticated way of saving
- Have high interest
- Free of charge
Fixed Deposit in Tokenomy Earn
In Tokenomy Earn, you can find fixed deposit products here. There is a wide selection of assets to invest in with a choice of varied subscription periods and competitive interest rates of up to 12% per year.
The following is a guide on how to deposit and subscribe to Tokenomy Earn that you need to understand.
How to Make a Deposit on Tokenomy Earn
The way to start a deposit on Tokenomy Earn is very easy to do even if you are a beginner. In this case, there are a number of steps that must be taken to open an account on Tokenomy Earn. For starters, you must verify your identity in an effort to ensure the security of your crypto assets. The trick is to upload photos and personal data according to the conditions provided.
Now, if you have verified it, you can immediately make a deposit, with the following steps:
- Log in to your Tokenomy account.
- Visit your portfolio and select the digital asset to be deposited. For example, on Bitcoin (BTC) assets, click “Deposit/Withdrawal”.
- In the funding menu, click the deposit section.
- Next, click Generate wallet address on the desired coin/token, for example BTC wallet address: 3BoSGL57AhBZkVCEXezX4GJHAxtLaByYwm.
- Then, click copy in the wallet address provided under the “Deposit wallet address” column or scan the barcode. (It is important to remember that some coins/tokens also have a memo in their wallet, for example EOS, XLM, etc. Don’t forget to copy the memo when making a deposit in Tokenomy).
How to Subscribe on Tokenomy Earn
If you have already deposited your crypto assets, it means that you can then invest a fixed deposit in Tokenomy Earn. The way to do this is by subscribing to one of the assets available on Tokenomy. For the steps are as follows:
- Login to your Tokenomy account.
- There, there will be a variety of assets available in Tokenomy Earn.
- Choose the asset and subscription period you want.
- Please note, each subscription period has a different interest rate.
- Then, click “Subscribe”.
- Also make sure that you have sufficient balance in your wallet, then enter the amount of assets you want to deposit, then click “Next”.
- Next, you will see the estimated amount of interest and click “Next” again.
- Then, click “Agree” and you are done.
What is the Minimum Fixed Deposit in Tokenomy Earn?
For a minimum deposit on Tokenomy Earn, it is only IDR 500 thousand and the greater the deposit value, the greater the interest value you will get. If you don’t want to wait, then you can activate the “Monthly Yield Distribution” feature to receive the interest every month. If you want to re-subscribe automatically then you can activate the “Auto-renewal” feature.
You can see the full video on how to make a fixed deposit on Tokenomy Earn at the following link.