Exploring the Financial Frontier: Which options is right for you, Traditional Bank Savings Accounts or Crypto Savings with APR

Everyone is now turning to cryptocurrency as their financial savior, with the advent of cryptocurrencies savings and investment has changed and people are no longer interested in traditional banking way of saving money, crypto has now become choice for many with several advantages over traditional bank savings account.

Crypto savings storm the digital realm with APR(Annual Percentage Rate) for everyone to dip their toes into an interest that is more beneficial to their financial growth. Honestly this has be a financial frontier of traditional bank savings accounts when it comes to savings money for long term

In terms of security crypto savings account offered a safe and secure network to store your digital assets lock in savings and likewise grow your savings based on the period you put them in savings. The reason why this is more pure and trusted than traditional bank savings account is that, traditional bank savings account typically offer a fixed interest rate, and sometimes this fixed rate can vary due to global economy markets.

Someone told me some years back that the money I left in bank savings account are just keep like normal account, but that is not the truth, the bank also utilize it for trading and when the market is good you'll have the fixed interest but when the market condition is not good the rate vary.

The only thing I will say traditional bank savings account is more difference is the accessibility they offer. You can withdraw funds whenever you need it, it all secure by federal government so if any banks fail, there is confidence that depositors funds are safe due to FDIC insurance. Bank savings account is for those that cannot prioritize risk with crypto investment, but we should be aware the interest rates is somehow can't be comparable to crypto savings which means money doesn't grow over time on traditional bank savings account.

Explore crypto savings with APR

Benefits surrounded Crypto savings account offer avenue for financial growth and savings strategy that is not available on traditional bank savings account. Crypto Savings with APR is a promising options for everyone to grow financial by keeping their digital assets on savings. Honestly if we look into the volatility of cryptocurrencies there is nothing to brag there about crypto savings but the key factor APR is what makes people prioritize it for financial grow.

I really like the idea of HBD saving on hive blockchain, saving HBD and earn 20% APR is a good thing here on hive. Anyone can earn passive income just put the Hbd on savings and fold your hands.

Undoubtedly anyone that want to get started with crypto savings and APR should consider HBD savings on Hive, or do your research on any reliable platform or decentralized finance protocol that allow you to stake your crypto assets and earn a passive income like HBD savings.

One benefits of locking up crypto assets for a specific period to earn a variable APR is because of the potential higher interest that is more advantageous than traditional bank savings accounts. And also the opportunity to diversifying your crypto savings which is not possible saving money with banks

I am not saying traditional bank savings account are not good, they have long been a popular choice of saving for us before the rise of cryptocurrency, even some still choose it because of the peace of mind they provide but it's important to know that the interest rate on savings money can be quite minimal which means that over time the purchasing power of the money you keep on savings may not keep up with inflation.

Drawbacks of crypto savings with APR

Unlike traditional bank savings account, Crypto savings account with APR can outpace inflation which can result in higher increase over time. However, it is essential to consider its drawbacks too so everyone will know that success is not always guarantee on crypto savings with APR even if higher returns are possible. The major concern people will be thinking is volatility of crypto market, that the market is stable, but that is just the minor since we know it volatile before we put our money.

The significant concern is hacking that is happening everywhere in crypto space. There is security risks associated with crypto savings accounts, several times we heard hackers exploit crypto savings account, liquidity pool to steal people's funds, but aside that crypto savings with APR offer potential benefits that is much greater than traditional bank savings account. However it is important to carefully consider the risks and drawbacks associated with crypto savings account with APR and individuals should conduct thorough research and assess their risk tolerance before deciding to explore crypto savings with APR.