With the help of ELG Bank, the crypto market is witnessing the birth of a new crypto-banking initiative. This new project, ViuBank, comes from the mind of Seng Yeap Kok, a professional in the banking sector.
ViuBank lets its clients choose among several savings and rewarding plans. The team is betting on the appeal that passive income can have on investors having different risk profiles.
If you’re interested in learning more about ViuBank, our review will give you a comprehensive look at it.
ViuBank – What Is It and How Does It Work?
The idea behind ViuBank is to bring an innovative mix of traditional and crypto banking services. The project enjoys several benefits from ELG’s banking license in Vanuatu, allowing it to host saving accounts for its clients.
It is also worth mentioning that ELG Bank guarantees the protection of funds up to $500,000 per account. Below we will mention a few essential details about the project’s mechanisms and offer.
How Do I Join ViuBank?
If you’re interested in joining ViuBank, you’ll need to fill out an application on the project’s website. Specifically, the system will require you to provide the information below:
- Personal information: you must state your legal first and last names. The system will also ask for the name of your country, city (with the associated ZIP code), and address.
- User information: make sure you choose a unique password and username, which you’ll need to use every time you log in.
- Contact information: finally, it will be necessary to give ViuBank several details to contact you. Specifically, you’ll need to provide your email address and phone number. This operation is essential because you will receive an SMS and email message to access the account.
You may begin depositing with ViuBank as soon as you’ve submitted your personal information and completed the captcha.
My First Steps on ViuBank
The method ViuBank uses to let you fund your account is Coinbase. Specifically, you can use several coins to make your first deposit, ranging from the classic Bitcoin to several altcoins. We can mention ETH, DOGE, USDC, BCH, and LTC among these tokens.
One important note is that you will not need to open an account with Coinbase to operate on ViuBank. The system lets you select the coin you prefer to use without owning a Coinbase wallet.
You’ll be happy to know that the project reserved a $10 reward for new users to help you start investing.
What Can I Do on ViuBank?
Let us start from the basics: you will want to know how to deposit and withdraw your funds on ViuBank.
Customers can make crypto deposits via ViuBank’s in-house payment system. There will be no withdrawals from this project until the system verifies each operation, guaranteeing your funds’ security.
Of course, you may also need to transfer your funds to other accounts. ViuBank has thought about this option with the following distinction:
- Sending and receiving the money to and from other ViuBank accounts will be immediate.
- If you wish to transfer funds to an external account, you will need to wait for one to two working days.
Three Ways to Collect Fixed Rewards
An excellent way to approach this project is to look into the Fixed Deposit Plans plans it offers before creating an account. Specifically, consider that the system will lock your funds for a limited timeframe, depending on your selected plan.
For example, the 90-day plan promises to deliver an 18% profit on your investment every 30 days. Alternatively, the 180-day option comes with a 21% profit rate distributed every 30 days.
The team also designed a yearly plan in which you lock your funds for 365 days. The project promised a 1% profit daily in exchange for this operation.
As mentioned earlier, the platform will award you $10 after you sign up. However, keep in mind that all these fixed deposit plans require the use of at least $100.
The plans feature a growing investment cap, ranging from $10,000 (for the 90-day program) to $100,000 (for the yearly option).
The APY System
When you join a project such as ViuBank, it is fundamental that you understand the concept of APY. The “Annual Percentage Yield” is your crypto investment’s annualized rate of return.
Let us consider the 180-day plan that ViuBank offers. If you choose to invest $10,000 under this option, the team promises an interest payment of $2,100 (21%) after 30 days. You will receive an interest payment every 30 days until the 180 days are over.
Once the plan expires, you will get your $10,000 back, and the interest payments will make up your APY.
In some cases, it may be riskier to make money with crypto. ViuBank promises that your money will be safe with a fixed deposit receipt system.
ViuBank – Bottom Line
Today’s review highlighted all the main details you need to know about ViuBank. We provided readers with several neutral facts about this project, hoping the information would help them make an informed decision.
ViuBank’s team plans to actively update its clients and community on its official website and social media pages. The market will need to monitor these sources looking for new essential announcements from the founders.