Finblox Review

Finblox is a blockchain startup with members in Hong Kong, the Philippines, Vietnam, and Indonesia working remotely. Its primary offering is an app that facilitates the purchase and passive income generation from several crypto-assets such as USDC, Bitcoin, Axie Infinity, and Solana. Sequoia Capital, MSA Capital, Three Arrows Capital, Coinfund, Saison Capital, Venturra Capital, and other leading venture capital firms back the company.

You may be wondering if this platform is the best option for you. In this evaluation, we’ll explore the benefits and drawbacks of utilizing Finblox, as well as the features it offers.

In addition, we’ll go over how much Finblox charges and how it stacks up against the many similar services out there. To sum up, we hope to aid you in determining whether or not Finblox is the ideal platform for your investing needs.

Come on, then, and we’ll start right away!

What is Finblox?

Peter Hoang and Dmitriy Paunin, two veterans of the fintech industry, launched Finblox with the goal of making generating wealth accessible to everyone.

While Dmitry was the Chief Technology Officer of Coins.ph, Peter founded Gotrade, a Y Combinator-backed app for commission-free stock trading. The support of well-known figures is an important indicator of a company’s legitimacy in the crypto industry.

In exchange for making cryptocurrency purchases on Finblox, members are rewarded with daily compounding and payouts. Their interface is straightforward to navigate, making it a good fit for crypto traders of all skill levels.

Finblox, as of this writing, offers competitive rates on stablecoins and other crypto assets, prioritizes the development of secure yields and full transparency, and discourages using riskier techniques. Finblox is on a mission to democratize wealth building for all.

Also, a massive US$3.9 million in seed money was provided to Finblox by some of the most well-known figures in the cryptocurrency industry. Dragonfly Capital, one of the largest cryptocurrency hedge funds, and Sequoia Capital, Silicon Valley’s oldest and most successful venture capital firm, participated in the seed round.

Services

These are the services offered by this platform:

The Finearn plan

The Finearn Program is a major backer of the Finblox project because it helps investors manage their money and grow wealthy through the use of compound interest.

Yield on Finblox

Important and dependable coins, including Bitcoin, Ethereum, USD Coin, AVAX, Sol, AXS, and many others, are supported by the Finblox task.

Earn crypto

In addition to daily compounding of earnings, this method has no withdrawal restrictions and allows customers to cash out their funds whenever they like.

When compared to other staking platforms like BlockFi vs Coinloan, which make its customers lock in their assets for an extended period, this is a welcome change of pace.

You may start using Finblox right away by downloading the app from your preferred app store or by going straight to their brand-new web app. To deposit from your wallet or other exchanges, click “Deposit Now.” More cryptocurrency can be acquired with Moonpay. Your daily compounded earnings begin as soon as Finblox receives your coin.

Also, you can earn from referral programs by using the Finblox referral code. Finblox is now running a referral program that can get you and the person you referred up to $250 USDC.

Pool to earn

You can use the app to invest in cryptocurrency and make money while you sleep. Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), Axie Infinity Shards (AXS), and USD (USDC) are just some of the cryptocurrencies and USD-backed stablecoins that are readily available for purchase and reward accumulation. Yield is paid out daily, so you can start earning it as soon as you deposit your account.

Rates

In order to create income for token holders, the corporation employs several methods, such as leasing the assets to financial institutions, delegated staking, and the usage of DeFi protocols.

Interests earned by Finblox are subject to a fee.

Finblox rates

In this respect, Finblox offers the highest rates by a significant margin, with a 15% return on USDC and USDT and an 8% yield on other stablecoins like XSGD (a stablecoin pegged to the Singapore Dollar) and XIDR (stablecoin pegged to Indonesian Rupiah). They charge a fixed fee of 5.75% for all Bitcoin and Ethereum transactions.

While rates are asset-specific, prominent protocols and projects like Solana, Polygon, Avalanche, and Axie Infinity are all supported by Finblox. The AXS yield is 90% APY, and the Polygon yield is 20% APY, both available on this platform.

Wallet

You can store your cryptocurrency in a Finblox wallet or use your debit or credit card to buy cryptocurrency directly from the wallet. Experts in the field of cyber security designed their crypto storage system and crypto wallet.

Fireblocks, one of the world’s largest digital asset custodians, ensure the security of your funds with international bank-grade encryption. Maintaining the security of your possessions is one of their primary goals, and doing so helps them earn your trust.

According to the Coinrabbit review, your funds are not secured like it is at Finblox. Since your funds on Coinrabbit are not insured, you risk losing them if the Coinrabbit website is hacked. Users of these crypto exchanges are usually at a loss when the issue of hacks happens. Their customer service has made it known that they will not be adding any form of insurance to their platform. Users should take note of this and put the risk into consideration before settling to make use of the platform

Finblox wallets

Finblox offers two wallets for its users to choose from. They are

• Stablecoin savings vault: This paves the way for regular returns from the DeFi lending markets.
• Crypto vault: This paves the way for profiting from the more speculative cryptocurrencies like BTC, ETH, etc.

As a result, customers can tailor their return to their individual tastes and comfort levels with risk.

Cryptocurrencies

Finblox is a cryptocurrency exchange and lending platform that supports more than 23 different cryptocurrencies, including Bitcoin and Dogecoin.

Finblox token

The Finblox token is known as the Finblox token with a ticker known as FB. It is built on Ethereum Blockchain, ERC-20. It is a token built for Utility purposes. Currently, there is a total of 10,000,000,000 DEGREES. There is no current news on the circulating token.

The token allocation is as follows:

Utility of Finblox token includes:

• Make progress toward your goals and receive benefits
• Improve the APY ratio
• Exclusive Deals
• Stakeout
• Decrease in Tariffs

When compared to other similar projects like Nexo, BlockFi and Coinloan, Finblox features a feature that lets users reload their tokens with an unlimited supply of ETH, eliminating unnecessary fees for end users.

Fees

Although using Finblox doesn’t cost anything, you’ll still have to pay the standard cryptocurrency network costs.

Finblox withdrawal fees

Finblox will not charge you any Finblox fees if you want to deposit or withdraw cryptocurrency. Each type of asset has a unique withdrawal cost on Nexo and BlockFi.

In addition, If your identity has been verified, you can withdraw up to $3,000 per day and $30,000 per month in cash. You can withdraw up to $50,000 per day and $500,000 per month if you have Verified Plus status. Simply put, no charges are incurred while making a withdrawal.

Mobile & App

There is a Finblox app that allows users to trade, store, and withdraw cryptocurrency without ever leaving their browser.

Pros and Cons

Further, because it necessitates the disclosure of private information like name, address, and other identifiers, Know Your Customer (KYC) procedures might be a disadvantage for those that place a high value on discretion and security. Some users may be put off by this, despite its importance in preventing fraud.

Additionally, advanced trading functions like margin trading and shorting are not available on Finblox. If those are the kinds of things you care most about, you might want to look into some Finblox services that do offer them. Finblox caters mainly to novices searching for an easy way to make money with their cryptocurrencies.

Finally, certain markets enable you to use your cryptocurrency holdings as collateral when applying for a crypto loan. Unfortunately, Finblox does not provide this option but the Coinloan review shows that Coinloan, an alternative option, permits this function. Given that borrowing and lending are fundamental features of Defi protocols, this could restrict their applicability generally.

Is Finblox legit?

Finblox is supported by some strong financial bodies. They are

• Sequoia Capital, one of the largest and most reputable VC firms that invested in Google, PayPal, and Stripe and have over US$80 billion in assets under management.
• Saison Capital (a company listed on the Tokyo stock exchange with a US$30 billion market capitalization and one of the largest credit card issuers in Japan )
• Significant blockchain funds like Three Arrows Capital, Dragonfly Capital, Kyros Ventures, and Coinfund all support Finblox.

Contact & Support

This platform has its customer support unit ready to answer your complaint during business hours. There is no 24/7 Live Support for their users, but you can reach out to them via their Online channels.

Send them a mail through email: support@finbloxapp.com or via the website chat on their page.

You can also compare YouHodler, an alternative app, customer service with Finblox on YouHodler review. YouHolder’s customer service is better

Conclusion

Finblox is a great platform for both experienced traders and novices. The user-friendliness and simplicity of the UI make it a good choice for anyone.

Also, Finblox is designed for individuals who are just getting started with cryptocurrency or who want a passive income stream from their holdings. We believe it has significant potential and is an excellent entry point for people interested in investing in cryptocurrencies but want the lowest possible barrier to entry.

In addition, Finblox can generate large and predictable returns that can match or exceed those of a typical trading portfolio. However, It advertises itself solely as a mobile app and doesn’t provide any advanced trading features as a result.

When all is said and done, Finblox is a trustworthy, secure, and advanced cryptocurrency earning platform available. You can check it out. Please note that this article is not in any way serving as financial advice.