Digital and cryptocurrencies are becoming increasingly popular all over the world. The speed of transactions and low fees make them almost an ideal tool for money transfers and payments.
Moreover, the launch of staking, which is essentially an analogue of deposit bank deposits, allows users to receive income from each token they buy. This is not the whole list of benefits that cryptocurrencies can offer. That is why more and more people are trying to store not only fiat, but also electronic currencies in their portfolio. And here a natural question arises: “Where is it profitable and effective to exchange digital assets?”
Without intermediaries and overpayments
Today, you can exchange cryptocurrency for fiat money and vice versa in several ways: on a cryptocurrency exchange, special sites for exchanging assets, as well as on P2P platforms, where a transaction is concluded between a buyer and a seller without intermediaries. However, not all users can use the services of such resources due to legal restrictions, such as in Russia, China or Turkey, or, for example, for residents of countries that are under sanctions, such as Venezuela and a number of others. A real salvation can be a neo-crypto bank, which is able to provide services to all users, regardless of their location.
“Our neobank offers crypto and fiat currency exchange services for all users. We take full responsibility for the actions of clients, without violating the law, ” Grow Bank explains.
To date, the bank supports 64 fiat currencies and more than 20 cryptocurrencies, which allows each user to choose the necessary pair, and the commission for the exchange is 0.1% – 1%.
“You can exchange cryptocurrency for fiat money and vice versa immediately from your wallet in one click. It is enough to choose the currency that you are giving away and the currency that you want to buy. The exchange will take place immediately, and the assets will be displayed on the account, ” the company says.
And this is not all the benefits that GrowBank users can receive. For each transaction, Grow Bank pays a partner reward to users.
“A commission of 1% of each paid transaction (both fiat and crypto) in the Grow bank network is converted into a stable digital currency (USDT / USDC / DAI), placed on a smart contract of a decentralized autonomous organization (DAO) and distributed by a smart contract to all digital currency tokens issued by Grow Bank. This increases the cost of the GROW DAO and ensures a fair rate of the GROW token, ” the neo-cryptobank explains.
This means that the more users make transactions, the higher the cost of the native GROW token will be, which can be accumulated, invested or resold, receiving income from the exchange rate difference.
Safety is the main focus
The protection of assets and the reliability of storing funds in the wallets of the platforms is important for every cryptocurrency user. Grow Bank is ready to offer the latest solutions for protecting customers ‘ money.
“We pay great attention to the issue of security, as we understand that hackers and cybercriminals are constantly improving their methods of stealing funds. Cryptocurrencies are stored on the cold wallets of the neocryptobank, and the fiat currency is stored on the correspondent accounts of the bank,” Grow Bank explains.
Grow has a classic EMI & FCA banking license, and its users are protected by Swiss law, which guarantees the legality of the company’s activities, and each user is protected by Swiss law.
“Most crypto exchanges operate in a gray zone, as they do not have the appropriate permission or license, or are located in a jurisdiction that prohibits such operations. Our company operates in the legal field and provides a full range of services for medium — sized investors and users,” the company explains.
Conclusion
Neo-crypto banks that have licenses and operate in the legal field of a particular jurisdiction can become an alternative to exchangers and P2P platforms in the exchange of fiat currencies for crypto and vice versa. At the same time, for users of such neo-banks as Grow Bank, instant exchange services are available even in countries where the cryptocurrency is not regulated, as well as the opportunity to earn money from each transaction.