ViuBank — Leveraging Fixed Deposit Receipt in the Crypto Banking World
Blockchain technology is changing many aspects of our daily life. For example, the way we manage our savings shifted thanks to cryptocurrencies.
ELG Bank brought us ViuBank, a new project that promises to introduce a new way to handle your crypto savings. The initiative wants to enable its clients to build wealth automatically through fixed saving plans.
What is there to know about ViuBank’s features? Let us give you more details about the project in today’s review.
Living the ViuBank Experience
The new reality of banking, Viubank, plans to give simple access to fixed deposits. The team wishes to enable clients to obtain a fixed rate of returns. With a banking license in Vanuatu, the initiative can offer services, including saving collecting.
In the eyes of the ViuBank team, this project offers a full-featured bank account with reliable security. Seng Yeap Kok, the project’s creator and CEO, has a long history of working in the financial sector.
The CEO has over two decades of experience in the banking industry. He worked in private banking, insurance, and other financial niches. He also worked at multilingual businesses such as Great Eastern Life assurance Berhad.
Let’s look at how you may get started with ViuBank’s offer in a simple step-by-step approach.
Step 1 — Open Your Account
As a standard procedure, ViuBank will require a set of essential details on you to open an account. Remember you are dealing with a company having a banking license that legally needs to have information about you.
ViuBank’s team promises that it will not share the data with third parties. The project is reserving a $10 welcome bonus for new clients to help you begin exploring ViuBank’s services.
After stating your personal information and selecting a username and password, you must provide contact information. The solution of a quick captcha will make you move to the next step.
Step 2 — Verify Your Identity
You provided ViuBank with your phone number and email address in the first step. This information will be fundamental to completing the second step. You will receive an email and an SMS to verify your account.
Step 3 — Fund Your Account
It is now an excellent time to learn about making deposits and withdrawals with ViuBank. The project offers a proprietary payment system designed to smooth these processes.
Remember that every fixed deposit plan requires a minimum amount of $100, and fund your account accordingly. In addition, ELG Bank safeguards up to $500,000 in cash per account.
Concerning withdrawals, the team assured clients that it would not authorize any operation before a system verification. This mechanism aims to introduce an additional layer of protection for the clients’ funds.
Step 4 — Learn About ViuBank’s Product Offer
After setting up and funding your account, you will be ready to exploit ViuBank’s product offer. Specifically, there are two main actions you can select:
- Transfer funds: you can send your money to someone else on ViuBank or an external account. While the first operation is immediate, the second one may require a couple of days.
- Choose your fixed deposit receipt plan: the offering of fixed deposit plans represents the core of ViuBank’s services.
Let us elaborate on fixed deposit plans by summing up the three options ViuBank designed for its customers.
If you choose to lock your funds for a year, ViuBanks promises you will earn a 1% daily return. If locking your money for 12 months sounds like a long time, you may find the 180-day option more convenient.
Under this second plan, ViuBank promises you’ll get a 21% profit every 30 days. Finally, another program requires locking your funds for 90 days to obtain 18% interest every month.
It is essential to add that the plans have different caps on the amount of money you can use. The 90-day plan has a threshold of $10,000, while the 180-day option’s limit is $50,000. Finally, the yearly plan has the highest cap of all, equal to $100,000.
A Practical Example
For understanding, it is helpful to convert the project’s offer into a guided example. Consider the following case:
- You select the 365-day plan because you feel it fits your risk profile better among the different options.
- You click on “Apply Now” and decide to use $20,000 to increase your capital.
- ViuBank promises that you will receive $200 (i.e., 1%) each day until the plan expires.
- After 365 days, you will receive the last interest payment and your initial $20,000 capital.
Cryptocurrency investment may be risky in specific situations. ViuBank assures you that your money is secure with a set deposit receipt mechanism.
ViuBank — Our Conclusions
Fixed deposit returns are at the core of ViuBank’s offer to its customers. It’s possible to select from various options promising returns from 2% each week to 1% per day.
ViuBank’s ambitious goals are clear, as it wishes to change the way investors earn passive income. We will observe the market mood and, in the meantime, we can follow ViuBank’s developments on its official website.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision.