What Deposits in Crypto Mean

What Deposits in Crypto Mean

If you work in finance or investments, you must have heard the word “deposit” before. In financial terms, deposits are transactions in which a customer’s assets are kept for a period of time that has been agreed upon with a bank as an authority. There are also deposits in transactions where someone’s assets are used as collateral. The assets arel owned by the customer, but are kept by a bank or another third party as collateral for the agreed time. In investment, deposits are referred to as one way of investing with low risk. 

“Deposit” is also a term used when a person transacts in large amounts, such as in the purchase of vehicle assets or real estate, and requires a deposit of funds as a guarantee that they are able to complete all payments. In leasing, a deposit is used as collateral for expenses in case of damage to the leased asset.

Crypto Deposits

Crypto deposits are not much different from other types of deposits in general. This type of deposit uses crypto as the asset that is deposited and then earns interest. An advantage of crypto deposits is that the profits are often greater than in bank deposits. The profit you get from a bank deposit is only around 2-3%, while in a crypto deposit you can profit up to 7-12%. This is one way for those of you who want to invest using crypto.

High-interest rates on fixed deposit products on Tokenomy Earn are obtained by lending stored assets to trusted institutional borrowers. These borrowers have gone through a screening and due diligence process to ensure that they are trustworthy. Interest from the loan will be returned as profit to investors who keep their assets as fixed deposits. However, all these processes occur behind the scenes, so you don’t need to worry about them—just receive the investment returns according to the promised interest. As a beginner, fixed deposit investment is a safe and profitable long-term investment options.

How to Deposit on Tokenomy Earn

If you are a beginner, don’t worry about starting a deposit on Tokenomy Earn—it’s easy!  First, verify your identity to ensure the security of your crypto assets by uploading photos and personal data according to the provisions. Upon successful verification,you will be able to make a deposit by following the steps below:.

  1. Log in to your Tokenomy account.
  2. Visit your portfolio, select the digital asset to deposit. for example on BTC asset. and click “Deposit/Withdrawal”.
  3. In the funding menu, click the deposit tab.
  4. Generate wallet address of your desired coin/token, in this example, BTC wallet address: 3BoSGL57AhBZkVCEXezX4GJHAxtLaByYwm
  5. Click copy the wallet address provided in the “Deposit wallet address” column or scan the barcode. (Please note that some other coin/token also contains memo in their wallet such as EOS, XLM, etc. Don’t forget to copy that memo)


How to Subscribe on Tokenomy Earn

Already made a deposit? This means that you can make a fixed deposit investment in Tokenomy Earn. Here are the steps to do so:

  1. Login to your Tokenomy account.
  2. There are various assets available on Earn.
  3. Select the asset you want to subscribe and choose the subscription period.
  4. Every subscription period has a different annualized interest rate.
  5. Click “Subscribe“.
  6. Make sure you have enough balance in your wallet, input the amount of the asset you want to deposit, then click “Next“.
  7. You will see the estimated amount of the interest. Click “Next” again.
  8. Click “Agree“, and you’re done.

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