Last Updated on October 4, 2022 by
Crypto savings accounts on CoinRabbit are efficient and aim to provide the best crypto services in the market. At CoinRabbit, users have the option to deposit funds in order to earn interest or to deposit their cryptocurrencies as collateral and receive a loan.
These financial services are important in maintaining an optimal cryptocurrency portfolio; however, these cryptocurrency investors often have different goals. In this article, we will discuss how you can benefit from the different features on the CoinRabbit platform to earn impressive interest rates.
However, before we analyze the different features of your CoinRabbit savings account, let’s look at what CoinRabbit is and how important it is for cryptocurrency enthusiasts.
What is CoinRabbit?
CoinRabbit is essentially a centralized crypto borrowing and lending platform with a relatively broader range of features. Unlike most crypto lending platforms, CoinRabbit offers a massive list of supported cryptocurrencies ranging from Bitcoin to Altcoins like ETH, ADA, DGB, and DOGE.
The flexibility it offers to crypto investors allows it to be one of the industry leaders in the cryptocurrency lending space.
CoinRabbit is often concerned with the safety of its user’s investments. Due to this, they have partnered with Guarda Wallet, a cold secure wallet firm that ensures maximum security of your deposits.
CoinRabbit offers support for a profitable investment in both the bear and bull markets, giving investors sufficient flexibility to make profits regardless of the prevailing market conditions.
What can I do with a crypto deposit?
At CoinRabbit, there are three options available for investors to manage their savings funds. You can either increase your deposit, withdraw money or open another deposit account. All the options are appropriate for investors depending on their preferences and priorities as crypto holders.
A cryptocurrency holder on CoinRabbit can decide to increase their deposits to earn more interest on their deposits. The more the deposit amount on your savings account is, the more the interest gained is. Therefore, many crypto holders strive to increase their deposits to increase their earning potential as well.
Below is a step-by-step guide on how to perform these account management tasks and their impact on your crypto savings account.
Increase deposit amount
To Increase the amount on your deposits, you navigate to CoinRabbit’s Earn Page and click on the top left corner labeled “Sign in“.
This section assumes that you already have an account with CoinRabbit, and all you need to do is adjust your deposit amount.
When you click on “Sign in” you’ll be prompted to Enter your Phone Number, as this is the only link to your personal account at CoinRabbit. CoinRabbit believes in the anonymity of cryptocurrency and therefore eliminates the need to have a long KYC process that often negates the concept of blockchain and cryptocurrencies in general. The platform will introduce an extra layer of security (2FA) through emails in the near future to make every client’s journey more secure.
Once you have your Number verified and you’ve entered the One Time Password (OTP) sent to your phone, you can track your account. You will be redirected to a page where you can view your Earnings and your Loans.
On this page, select the Earnings you’d want to monitor and click the Track button on the right.
You will be redirected to your Earnings page, where you’ll have all the information regarding your deposits and earnings. To increase the amount, you can click on the “Top Up” button at the bottom and proceed to add more funds to your account.
Withdraw money
Withdrawing money from your CoinRabbit is an important part of your account management tasks. A crypto investor may need to withdraw funds to cater to an emergency or other financial reasons.
Many crypto investors have specific targets with their investments; therefore, most investors choose to withdraw their funds and make new investment goals if the earning targets are achieved.
On the CoinRabbit platform, the Withdraw option is positioned side by side with the Increased deposit option.
You will find the “Withdraw Deposit” option adjacent to the Increase Deposit amount option discussed above by following the above steps.
On the same page, there is a detailed guide on the transaction history of your account, displaying all the records of transactions from new deposits to withdrawals and top-ups.
Note that the withdraw option prompts you to verify your identity using the SMS sent to your phone. Cryptocurrency investors can make both partial and full free withdrawals at any time.
Open a deposit
A crypto investor can open several deposits on the CoinRabit platform for various reasons. Considering your financial goals, having several deposits could be necessary. You can have several deposits linked to your phone number, and you can track all your deposits under one account.
Different deposits can be tracked once you Enter your phone number and verify it. You will be able to see earnings progress from your Earnings tab.
Conclusion
CoinRabbit offers a wide range of features for cryptocurrency enthusiasts; you can have more than one deposit account, top-up your deposits, and withdraw at any time. With the broad variety of cryptocurrencies, CoinRabbit offers a more efficient crypto management platform for Stablecoins and conventional cryptocurrencies for lucrative APYs.
