Finblox Review High Yield Savings Vaults

Discover the features and risks of this relatively new high-yield generating crypto investment platform.

Dean Fankhauser11 min read
Finblox

Our take

4 out of 5 stars

Finblox brings many new features to the world of crypto savings, making it quite the force to be reckoned with.

Crypto savings platforms have made their mark on the financial world by providing different ways to earn passive income on your crypto assets. Holding your cryptos to earn yield is an excellent alternative to growing your portfolio without jumping into the rabbit hole of active crypto trading.

While crypto savings platforms such as Finblox allow users to earn more interest than traditional financial instruments, they are also prone to additional risks. We compiled this article to help new crypto investors assess whether Finblox is worth putting your crypto assets into.

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Features

Finblox is a Hong Kong-based crypto savings platform that offers stellar APY rates, and allows you to earn yield by simply holding your crypto assets - rather than actively trading them.

Navigating the app is simple, and no prior knowledge of crypto is required - making Finblox easy and accessible for beginners.

Finblox also has daily compounding interest payments, and allows users to withdraw at any time without worrying about collecting yields at set intervals.

Your funds are not locked-in, and there are no minimum required balances on your account either. This allows users time to devise proper strategies to build their portfolios.

Lastly, your profits aren't governed by a tiered system, loyalty levels, or a percentage of required holdings to unlock the highest rates. The advertised rates and features are available to all users, all the time.

Supported Cryptos

Finblox supports many cryptocurrencies. It also has a feature where you can request the addition of new assets, and provide your email address to get notified when it is added.

At the time of writing this article, Finblox supports 25 currencies, including traditional cryptocurrencies and stablecoins.

Some cryptos that Finblox supports are:

Yields

Finblox offers yields of up to 90% APY on your cryptos, and up to 15% on stablecoins.

Additionally, Finblox has a referral program where you can send referral links to your friends and receive a maximum of 250 USDC for both accounts, depending on their deposit size.

The current APY yields on available cryptos are:

  • BTC: 5.75%
  • ETH: 5.75%
  • USDC: 15%
  • USDT: 15%
  • UST: 0.1%
  • SOL: 8%
  • AXS: 90%
  • BNB: 5%
  • ... see all.

Savings Vault

The Savings Vault allows you to earn interest on your stablecoins. Compared to cryptos, stablecoins are less volatile and, as the name suggests, are relatively stable even when the prices of cryptos fluctuate wildly.

The primary benefit of the Savings Vault is that you can earn high yields on your crypto assets without worrying about value reductions in case the market crashes.

If you are interested in cryptocurrencies but are unwilling to take many risks, the Savings Vault presents an excellent way to earn interest.

Crypto Vault

If you are willing to invest in more volatile cryptos, you can use the Crypto Vault to gain more passive income on your cryptos.

The yield you can earn by choosing assets from the Crypto Vault can be higher than Savings Vault, but so are the risks.

The APY rates on more volatile assets such as Bitcoin, Ethereum, and Solana come with the risk of losing significant portfolio value on your cryptos if the market goes on a downtrend.

Calculator

The interest rates offered by Finblox vary hugely, making estimating your yields and calculating your profits a time-consuming process. Fortunately, their calculator allows you to check the profitability of your investment with the click of a button. By taking advantage of the calculator and assessing your future returns, you can structure your portfolio to maximise your profits.

To make use of the calculator:

  1. Head to finblox.com
  2. Scroll down until you see the calculator.
  3. Select the name of the crypto from the drop-down menu.
  4. Set the initial deposit.

And that's it. The chart on the right side of the calculator allows you to change the length of the investment period to get an even better estimate of your earnings.

Wallet

Finblox provides you with a wallet, which is a crypto storage system where you can either deposit your cryptos from another crypto wallet, or buy them using your debit/credit card.

If you choose to deposit your cryptos from another wallet, you can use the wallet address provided by Finblox and select the network to transfer cryptos. Ensure you select the proper network on both wallets, as any error can lead to a loss of funds.

If you wish to buy cryptos, you will be redirected to MoonPay and will have to confirm your identity. Once that's done, you can purchase cryptos directly into your wallet and earn interest on Finblox.

The system is encrypted with security that is SOC 2 II Certified. So, you can rest easy knowing that your wallet and all your assets will not be compromised by hackers.

Finblox earn up to 90% APY on your crypto and 15% with USDC

Fees

The only thing scarier for investors than a crashing market are the hidden fees that chip away at your assets every time you make a transaction.

Finblox, however, doesn't have any deposit or withdrawal fees. So, you can invest your crypto to your heart's content without being concerned about losing funds as transaction fees.

That being said, you might incur a small fee from your bank or blockchain. These lie outside of Finblox’s jurisdiction and must be carefully researched before making a transaction.

How to Sign Up?

Setting up your Finblox account is simple, and the entire process can be finished in a couple of minutes.

Follow these steps to create your account:

  1. Depending on your OS, you can download the Finblox app from the Google Play or App Store.
  2. Open the app and tap on “Get Started.”
  3. Enter your email, password, and country of residence – and tap “Next.”
  4. You’ll be asked to verify your email. Check your inbox for a verification code from Finblox, and enter this code in the app.
  5. Tap on the “+” button or an asset to be directed to the deposit screen.

That's it. You can access your wallet right away and watch as your profits soar.

Is Finblox safe?

The answer to this question is a resounding yes. Finblox is funded by numerous platforms and investors that have backed prominent crypto projects, including Sequoia, Three Arrows Capital, Dragonfly Capital, and CoinFund - among other VCs and angels.

All users must verify their identity if they plan to withdraw more than US $1000 daily. This reduces the risk of identity fraud and theft, and money-laundering activities.

User's cryptos are held in custody by Fireblocks and protected by CoinCover using the latest encryption standards. Finally, Finblox is insured by Fireblocks for US $45M.

Security

Finblox has several security features in the form of 2-Factor Authentication, PIN, and biometric recognition.

You will receive an email every time you log into the app or perform transactions via your wallet, which adds an extra layer of security and notification.

Industry-leading security experts designed the app to render it impregnable to hacking. It features international bank-grade security, so you can rest easy knowing that your funds won't be tampered with.

Want to learn more about crypto lending security? Check out our curated list of the safest crypto lending platforms.

Regulations

Finblox is well-regulated and follows the AML (Anti Money Laundering) framework set by FATF guidelines. Furthermore, Finblox will be operating under the Virtual Asset Service Provider licence provided by the Bangko Sentral ng Pilipinas and is currently obtaining membership in the Anti Money Laundering Council (AMLC).

Support

The support page on Finblox's website contains more than 36 articles with additional information and FAQs to help new investors and users navigate their way through the world of crypto investment.

Users can browse the help center on Finblox via this link in case of any problems, and a team of dedicated professionals sees to it that the issues are resolved as soon as possible.

Lastly, if you face any issues, you can contact the support team via chat by heading to their website and clicking the chat icon. Their responses are quick, concise, and easy to understand.

Risks

Most crypto investment platforms suffer due to the volatility of crypto, and these swings can drastically lower the value of your assets.

With Finblox, you can withdraw your assets anytime without a lock-in period.

Again, it would be wise to do as much research as possible before deciding to invest in a particular currency - and remember to pay extra attention and select the correct network in your wallet every time you wish to transfer funds.

Be sure to monitor changes in the tax laws of your country, as these can also diminish your total crypto earnings.

Fortunately, the issue of losing funds due to volatility can be resolved by investing in stablecoins using their Savings Vault. Stablecoin values are tied to fiat currencies, and as the name suggests - they are extremely stable.

Finblox is a relatively new crypto investment platform established in May 2021. While high yield rates may raise questions about its legitimacy, their investors and security features are more than enough to trust Finblox with your assets.

Finally, all of your assets are insured and under the custody of Fireblocks, the largest digital asset infrastructure provider in the world featuring military-grade security. Additional protection and encryption is provided by their other partner, Coincover.

Alternative Crypto Lending platforms

Finblox competition comparison table

Finblox vs. Celsius Network

  • Celsius Network is often hailed as the best crypto lending platform and provides stiff competition for Finblox. It has been around much longer and has a very passionate community of crypto enthusiasts.
  • Celsius has more supported assets than Finblox, more features such as 1% APR loans, and is more established than the latter.
  • Finblox has some huge factors in its favor, however. There are no tiers, loyalty levels, required token payouts (CEL, for example), or any other conditions needed to receive the highest rates. The minimalistic interface is also perfect for newcomers.
  • Finblox's interest rates on stablecoins are also higher than Celsius. The max interest on stablecoins offered by Finblox is 15% – compared to 11.35% on Celsius Network.
  • Also, in the case of Celsius Network, your interest rates will drop depending on the amount of each asset you invest – with diminishing returns beyond a certain amount.
  • For instance, the APY is 6.3% for 1 BTC, which is not only lower than the rates offered by Finblox – but they reduce to 1.5% for additional BTC. Contrast this with the unconditional 5.75% APY offered by Finblox (regardless of the amount), and you can see why both small and large holders benefit from choosing Finblox.
  • If you want to receive the highest rates Celsius offers, you need to purchase CEL, Celsius's native token – while being a part of the Platinum tier. This means that your portfolio needs to have at least 25% of the assets in the form of CEL tokens, and receive yield payments in CEL for the highest payouts.

Interested in Celsius Network? Read our in-depth review of Celsius Network.

Finblox vs. Hodlnaut

  • Hodlnaut is another upcoming crypto savings platform that offers some of the highest rates on cryptos.
  • Finblox features more cryptocurrencies than Hodlnaut. As of April 2022, Finblox supports 25 assets compared to the 8 assets offered by Hodlnaut.
  • Although Hodlnaut has one free withdrawal per month, any subsequent withdrawals will incur a minor withdrawal penalty – and you need to withdraw a minimum amount. Finblox charges no withdrawal fees on its transactions, and you can even withdraw your interest daily if that is what you desire.
  • In terms of yield payments, Hodlnaut pays out interest every week while Finblox does so daily. Considering the volatile nature of the crypto market, having your interest available to you daily and being able to withdraw it without any problems makes Finblox a superior alternative to Hodlnaut.
  • Like Celsius, Hodlnaut has a tier-based system where the yield rates are as advertised as long as the amount you deposit is below a certain threshold.
  • Take the case of Ethereum. The APY rates for your first 30 ETH deposited are 5.4%. For the next 70 ETH, the rates will reduce to 4.08%, and after crossing the 100 ETH limit, the yield would be a mere 3.04%.
  • Finblox offers the same rate of 5.75%, regardless of the amount of ETH you deposit into your wallet.

Want to learn more about Hodlnaut? Read our Hodlnaut comprehensive review.

PlatformInterest Rates (APY)
Nexo
Up to 8% on BTC
Up to 17% on Stablecoins
... 34 more coins
Go to site →
AQRU
Up to 1% on BTC
Up to 3% on Stablecoins
... 5 more coins
Go to site →
CoinLoan
Up to 5.2% on BTC
Up to 10.3% on Stablecoins
... 28 more coins
Go to site →
YouHodler
Up to 6.58% on BTC
Up to 11.6% on Stablecoins
... 56 more coins
Go to site →
Celsius
Up to 6.3% on BTC
Up to 11.35% on Stablecoins
... 53 more coins
Go to site →
Midas.Investments
Up to 9.42% on BTC
Up to 18.05% on Stablecoins
... 16 more coins
Go to site →
Finblox
Up to 5.75% on BTC
Up to 15% on Stablecoins
... 25 more coins
Go to site →

Verdict

Finblox brings many new features to the world of crypto savings, making it quite the force to be reckoned with. While the number of payment options and supported assets can be increased, Finblox is still an excellent savings platform with a ton of features – including some of the highest rates and a convenient, user-friendly UI. Their notable investors, insurance, and security features are solid enough to make using Finblox the obvious choice.

If you’re looking for a hassle-free way to earn passive income on your crypto assets, especially stablecoins – look no further.


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