Vauld: Fast, Secure & Lucrative Banking on the Blockchain
The world is evolving daily, but an aspect that hasn’t changed for the past few decades is our banking system and how it functions. The traditional banking system is centralized. Users do not have many options available as to whom to borrow loans from, set interest rates, and transfer their funds cross-border.
Governments and banks can fall, or change their monetary policies, at any time. And your currency today can literally have no value tomorrow. We’re not exaggerating. Recent examples include India’s demonetization, Argentina, Venezuela, and Zimbabwe.
Now, we have a rapidly emerging alternative option to traditional banking – Bitcoin and crypto. Crypto started as an experiment, and the experiment evolved into a new financial instrument. It’s certainly changed many lives and connected those that do not have access to traditional banking.
It’s in that space that Vauld is playing.
Vauld, previously known as Bank of Holders, was founded in 2018 by Sanju Sony Kurian and Darshan Bathija. Its aim is to deliver crypto’s full power to users, on how and when to use their assets. On the other hand, Vauld’s mission is to create a banking system that is faster, more secure, and decentralized than traditional banking systems. The way they want to achieve this is by leveraging permissionless blockchains.
The founders are extremely passionate about the crypto space. Their intention is to treat crypto as a separate asset class and offer services to ensure technologies based on blockchain are usable as of today. This would negate the need for government acceptance and nationwide adoption of cryptocurrencies to disrupt the banking sector.
Banking with Vauld
Vauld caters to provide all the banking solutions for crypto, including the core crypto needs of owning, lending, borrowing, trading, and spending. Users can leverage the platform to manage crypto holdings, lend and borrow, buy and sell, and swap with all major cryptocurrencies.
The team identified that traditional banking is primarily used for three things:
- Safe storage of money done through a bank account,
- An easy way to pay for things done through cards, UPI, and wire transfers
- System of Credit
The Vauld team is constantly designing and creating products that align with the need for the future banking system. The aim is to provide a holistic banking system for your crypto and fiat currencies where they can be parked safely. This leads to ultimate value-creation out of the existing crypto that users own.
Users get all the traditional banking services with the advantages of higher interest rates and secured with cryptography. Users can use Vauld to store their crypto assets just like they did in a Bank account. All the funds are secured and insured by the industry custodian leader Bitgo.
Users get a convenient way to spend money backed by a strong overdraft system. Users can lend to earn interest or borrow money without liquidating their crypto assets.
Vauld has an inbuilt exchange where users can convert their crypto assets to other crypto tokens or Fiat currencies. Vauld charges a very low fee of 0.05%.
Earn more with your crypto assets. Vauld provides upto 11.57% Annual per yield (APY). Borrow up to 66.57% of Loan to Value (LTV).
Crypto-backed loans are a groundbreaking service in cryptocurrencies. They not only provide investors with the potential to help solve the problem of liquidity but also and unlock an entirely new market for the world.
Vauld claims that their loans to their borrowers are risk-free. How do you ask? They are over-collateralized by at least 150% while the loans typically repaid in 30 days. The funds allocated for trading are stored with a trusted exchange partner, which currently is Binance, to facilitate trades on their order books.
Bottom Line
With Vauld you can:
- Lend & Borrow
- Buy & Sell
- Swap – BTC | ETH | USDT | BUSD | PAX | XRP | DAI and other major tokens
Official Website: https://vauld.com
Telegram: https://t.me/VauldOfficial
