Hello, readers đ!
I hope you all are doing well đ. Did you ask how I am? Nopeđ? Forget about it đ.
I will be sharing more posts on ways to make money. But let me introduce you to your moneyâs enemyđ. A big round of applause for âInflationâ.
Inflation: A dollar saved is a dollar wasted; thank me laterđ.
Okay, fine! I know youâre not from a commerce background. Hereâs an excellent article on inflation. Why am I sharing links to articles instead of explaining these jargons here? Well, some of you might have a sound knowledge of these terms. Further, most of these terms are out of the scope of this article.
Well, some of you might say, letâs get an FD đ.
You literally made me cry đ.
The average yearly inflation is 5% (really, I verified it on statisticađ„Č)
When writing, the highest interest rate an FD can offer is 7%.
So, your money worked, and now its population has just increased by 2%âa well-planned financial societyđ .
But banks are secure, isnât it?
Yes, they are. But what if we can match their levels of security? Maybe we can help your money to make more moneyđ€?
Here comes Vauld.
Wait, Vauld is all about crypto? I canât handle its volatility. Itâs way too insecure. Better to watch my money grow in an FD đ.
And why Vauld, why not stocks, equity, smallcase, portfolio, NBFC investmentâŠ..đ€Ż.
Well, I donât want to overemphasize how much I love (coughđ€§ cough) FDs. And for the stocky folks, this article might not be for you if
The stock marketâs overall return is around 10-12%. How did I come to this figure? Well, at DesiMoneyMaker, we strive for honesty and transparency. You can literally see your beautiful face in our blogs.
We took the NIFTY50, NIFTY100 and NIFTY500 figures and determined the five-year CAGR (Compounded Annual Growth Rate). Next, we can easily interpolate the data to figure out the one-year CAGR. Well, for more straightforward folks, you donât need to understand these jargonsđ.
I am personally using Vauld, and at the time of writing, the interest rate is 12% compounded monthly, which gives an annual interest rate of 12.68% annuallyđ€.
And without risks, as safe as a bank. Donât worry; no asterisks (*) here. No T&C.
Now, let me prove its safety.
We are going to invest in a stablecoin. Hereâs another excellent article on stablecoins and how they work.
Some of you might be familiar with the recent demise of UST. I highly recommend you to read this article to know more about it. USDT works on a different mechanism called the overcollateralized model. Feel free to ask your doubts in the comments section belowđ.
Next, here in India, banks offer insurance of 5 lakh rupees per account. At the time of writing, itâs around $6400. Well, Vauld provides insurance of $100 million per wallet đ. You can read more about their insurance stuff from this article.
And most importantly, 95% of the funds are stored in a cold wallet â a wallet which isnât connected to the web.
Well, I guess I have placed enough emphasis on the security part. In the later part of the post, you will see that I have also invested in Vauld. I trust them as much as youđ.
As usual, I will be sharing two different links with youđ.
If you missed the referral link and still want to support us, consider using the code âzhim6râ.
Again, itâs your choice to use whichever link you want. Vauld gives us an option to set up our campaigns. Once referrals start kicking in, we will surely re-distribute 50% of the profits back to our readers. Itâs a promise. We will receive 40% of your trading fees and 5% of the interest on your savings, FDs and loans. Giving back 50% of the interest to you means a boost of 2.5%, which increases the interest rate from 12.68% to 15.18%. Thatâs massiveđ.
Once youâre in the form, fill in the necessary details, confirm your email and phone number, and get the KYC done. It hardly takes 5 minutes to get everything done, but in some cases, it might take hours for the KYC. For additional security, you can enable MFAđ.
Once done, you are ready to rock your financial world đ.
Vauld gives you some options to choose from. Let me explain them first:
In this article, we will thoroughly cover only FDs.
At the time of writing this article, many controversies are revolving around UPI and crypto. If you look at the INR deposit page of Vauld, you might encounter something like this:
There was a time when Vauld used to offer a multitude of deposit options at 0 fees. But still, there is a way around to deposit at practically 0 costs.
You need to sign up at CoinDCX.
There are plenty of guides online. Just search for âCoinDCX offersâ on your preferred search engine. You will be able to find some additional codes which might offer other incentives. These incentives will be locked until you deposit your first crypto within 15 days of using the coupon code. When writing, I got 222INR worth of BTC for free. I will be taking this figure as a reference.
You need to deposit INR on CoinDCX. Then you have to trade them to BNB. You can refer to the extensive support page.
Done? Pat yourself at the back. I am proud of youđ.
Next, we need to find the deposit address from Vauld. Just go to Wallet, then under crypto, search for BNB. Go to the deposit tab. You will see something like this.
Please donât send anything to the above address. Itâs just for reference.
Now, send all the BNB to this address. Make sure you have converted the incentives into BNB as well.
Next, go to the dashboard, start trading, and search for BNB.
Hit swap and the rest of the procedure is as easy as it sounds.
The incentives might be just enough to cover the associated fees. For massive amounts, P2P might be a good choice. But proceed with caution.
You can perform the same steps on any exchange of your choice. Make sure to choose BNB since Vauld supports a limited number of crypto-currencies. And out of these, most are not on their native chains. If youâre a beginner, itâs always wise to choose BNB. The article will be updated once any cheap alternative is available. Till then, I will solve your doubts in the comments sectionđ.
Final steps
Woah, congratulations on making it this far. Youâre just one step away from earning interest. Go to Invest, then select Fixed Deposits.
Select the appropriate crypto, enter how much would you like to earn interest on, and choose whether you would like to auto-renew to enjoy compounding and smash the âCreate Fixed Depositâ button.
Congratulations, youâre now earning interest.
Hereâs a glimpse of my dashboard:
Thanks for making it this far. In the end, I would like to tell you something interesting. As you know, Rupee is running at an all-time low against the USD. You can always earn more as the value depreciates further. For example, a 2% depreciation means an interest rate of 12.68 + 0.317 + 2 = 15%. Isnât it stunning?
Thanks once again for supporting DesiMoneyMaker. I will see you again in the following articleđ.
A brief and boring introduction Hello readers, my name is Ankush. Glad to meet youâŠ
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