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Savings Account

About Savings Account on LYOTRADE

Release: November 2022

About the Savings facility

Users will be able to take up savings with BTC, ETH and USDT on LYOTRADE. Inspired by savings with a bank account, the savings feature is similar to the staking service to a certain extent - the difference being users will be able to withdraw their crypto savings anytime without any lock-in period, while earning the 'savings interest' for that period.
The additional features with the new Savings facility is the ability to view the future interest daily, weekly, monthly and yearly basis for the token value planned to subscribe, before proceeding to subscribe for it.

How to access Savings Facility

Users can access the Savings option by the following simple steps:
a) Hover the mouse on the Services option on the top-left side of the main menu of the webpage
b) Click the 'Savings' option

Walkthrough for calculating future interest and subscribing

Users can check the above future interest they can earn, by clicking 'Interest Calculator'
The users can also proceed to subscribe from the same interface by clicking 'Subscribe Now' where the following details are entered before confirming the subscription

How to access the current savings balance and returns

Users will be able to view their tokens subscribed alongside the annual returns in percent, returns earned from the savings with the option to redeem from the subscription. Users will also be able to view the returns from the entire portfolio of the subscribed tokens, as well as token-wise.
Users can proceed to access them by the following steps:
a) Login to the LYOTRADE account, and click 'Balances' option on the right side of the main menu of the page which will be visible after logging in
b) Select the 'Savings Account' option