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Saving Crypto? These 7 Tips Will ​Boost Your Egg Nest

April 5, 2019

Saving money (in any of form) is hard. But it doesn’t have to be. After all, it’s just like riding a bike, it all comes down to practice. The question is: are you up for the challenge?

Putting money away effectively can help you achieve important financial milestones in your life, such as getting out a nasty debt, having enough cash for emergencies, more resources to invest or simply preparing for a long-awaited retirement.

Here is a list of easy-to-implement tips to boost your cryptocurrency savings in no time. Naturally, not all of these suggestions might work for you. Pick a few and implement them. Once you do, you may quickly realize you’re saving more than you ever thought possible.

 

Set clear goals

What are you saving for? Having a clear goal is essential to kick off your savings with the right foot. When setting saving goals, make sure they are SMART (Specific, Measurable, Attainable, Realistic, and Time Bound) so that they do not discourage you later on.

Use your goals to outline an actionable plan. Assess your current income streams and expenses, and create realistic budgets. Oh, and don’t forget about yourself. Being too strict on your budget could negatively affect your overall saving performance in the future. Occasional treats are a great way to keep you motivated in the long run.

 

Cut down transaction costs

Transaction costs are everywhere. Banks charge big commissions for both local and international money transfers. As fees can get really high, it’s worth looking at other options.

Blockchain technology allows you to move money across the world instantly and at a fraction of the cost compared to international money transfers via SWIFT.

With solutions like Crypterium, you can send money to a friend or family member in seconds at no cost. All you need is the recipient's phone number or wallet address. Alternatively, you can transfer funds directly to a bank account or MasterCard account.

 

Use a savings account

Keeping your digital assets in a regular wallet is tempting, specially with Crypterium, as it lets you use them anywhere, anytime. If you are planning to save in crypto, a savings account will ensure your funds remain safe (from you) and generate compound interest at the same time.

Crypterium Plus and Premium users will have access to an interest-bearing crypto account that offers monthly returns depending on the amount and lockup period.

 

Manage your debt

There is no shame in it. At some point, we all borrow for different reasons — cars, education, trading, healthcare... you name it. If you’re a cryptocurrency user, you might want consider crypto-backed loans as a way to stay in the digital ecosystem. The important thing is to ensure that you’re getting the lowest interest rate possible.

While this is not the only alternative out there, Crypterium has recently introduced its own crypto lending service: Clever. To date, this lender offers the lowest rates in the market: 6% APR. There is more. Clever loans are issued in Tether (USDT), which offers you protection against market volatility and you can repay them anytime without extra costs.

 

Find a side hustle

Adding a new income stream is probably one of the fastest ways to increase your nest egg. Just like Donna Summer taught us to do... “work hard for the money. So hard for it, honey.” And, of course, finding a side hustle that pays in crypto is certainly the best alternative as you can get payments instantly, no matter where you are. Here are two examples:

  • Steemit: this social media platforms rewards its users in crypto. It’s simple. You can earn crypto STEEM tokens by either voting for articles before they go viral or publishing your own. If you are content creator, this is one profitable side hustle to consider.
  • Crypto Grind: for those familiar with UpWork, this is the crypto version of it. Get hired or post a job. All money transactions are processed in crypto. The site offers a multi-signature escrow service to keep both ends protected.

 

Don’t let discounts go

We live in a competitive world. Brands know it and they do everything to grab our attention (and money). And by “everything” we’re talking about discounts — potential savings that you shouldn’t let pass. You are going to spend one way or another anyway.

Discounts come in many forms and apply to many products and services. The Crypterium Card as one good example. Users that subscribe to Crypterium Plus or Premium can get the first global crypto card for free.


Sign up for rewards

Following the latest point... brands don’t want to sell you only once, they want to keep you as a loyal client. To do so, they offer you a bunch of cool perks.

For example, subscribers of Crypterium Plus and Premium benefit from additional services, such as priority support, access to a savings account, insurance and even a personal manager.

Additionally, the company’s CPO has confirmed that the team is already working on the development of Crypterium’s Monthly Loyalty Program (MLP).

 

About Crypterium

Crypterium is one of the most promising fintech companies, according to KPMG and H2Ventures. We are building a mobile app that meets the banking needs of the digital assets era.

Our goal is clear: with Crypterium, whatever you can do with traditional money you will able to do with digital assets. This idea is supported, among others, by the co-founder of TechCrunch Keith Teare and over 400,000 registered users, and the number is growing by day.

The team is led by former General Manager of Visa Central & Eastern Europe Steven Parker, and C-level executives from global financial institutions, like Renaissance Insurance, London Derivatives Exchange, American Express etc.

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