Vauld Review: Right now, we all are a part of the virtual world. It can be done with just a few clicks, from trivial things such as grocery shopping to making life-changing decisions such as investments. One such online platform that helps you with modern types of investments such as cryptocurrencies.
This said platform is called Vauld, and it allows you to trade, lend, buy, and borrow crypto assets, and you can do all this in just one platform. In this article, we are sharing a detailed Vauld Review that can help you discover one of the underrated crypto exchanges.
This makes online crypto trading so much easier and faster. It gives you access to exchange your existing cryptocurrency for any other type that you want. This way, you know that your investments are not just blocked in one type of cryptocurrency.
What is Vauld?
To give you more detail about Vauld, they are an all-in-one platform that will aid you in buying, selling, borrowing, or lending cryptocurrency. You can do large volume trading using their OTC desk option, and you can also make use of their constantly updating charts that provide you with all the required information for successful crypto trading. They “intend to treat your cryptocurrencies as a separate asset class, and offer services to ensure technologies based on blockchain are usable as of today.”
Features of Vauld
It has fairly simple features that you can find in the core of all the banking procedures. Some of the features that are mentioned in the website of vauld are:
- Trusted ledger keeping: They keep up a ledger that will store the value of the cryptocurrency that you trade on the website.
- Exchange: You can exchange your cryptocurrencies for other currencies or tokens.
- Spending: It allows you to easily spend and buy your assets using your credit cards and other online banking modes.
- Growth: You can lend and borrow cryptocurrencies without liquidating your existing crypto assets.
How to Open Vauld Account?
Vauld Signup Process:
First of all, Click here to visit Vauld.
To sign up for Vauld, you do not need any special account that has to be specifically created for this purpose. Our love for social media will come in handy here as you can sign up for a vauld account through your Facebook, Google, Twitter, Coinbase, or Apple account.
Don’t forget to enter our referral code to receive sign up bonus – techcruc
After you sign in through one of your accounts, then you will have to provide some information to get you started.
You will have to give your name, email, mobile number, PAN number, and address proof. You can submit your voter ID card, driving license, Aadhar Card, or passport for the address proof.
That is it! You have signed up!
Vauld KYC Process
As an institute that handles finances, they can not afford to have any fraudulent customers that may be a threat to the rest of the genuine users. So, to ensure your safety and others’ safety, you will have to go through the KYC process or the Know Your Customer process.
The website says that it takes about 30 minutes for your KYC to get approved, but some users and reviewers say it only takes about 10 minutes.
Just like the sign-in process, you will have to provide all the information again. Your name, Email id, mobile number, PAN card, address proof, but this time, you will also have to include a selfie of yourself to cross-check the photos provided by you.
After all this, you are done, and now you can move on to trading.
How to deposit INR in Vauld?
Now that you are all set up, you will have to start depositing money. To be able to deposit your Indian Rupees (INR), you will first have to link your bank account with your vauld account. You can do this by providing your bank account number and your IFSC code. Once you provide these details, your bank account will get verified by vauld.
After linking your bank account, you can start depositing your money into your vauld account. You can make these deposits through cards, UPI, net banking, IMPS, NEFT, and RTGS modes. However, when you are about to make the payment, the application only allows you to use RTGS, IMPS, NEFT, and UPI.
To be able to successfully link your bank account with the app, you will have to provide some details like the account name, account number, IFSC code, and account type as a beneficiary.
Once you are done with all this, you have to log in to your bank account and add the account like you always do for any beneficiary. Now, you are all set to transfer money in INR to your vauld account.
How to Deposit Crypto in Vauld?
If you already have cryptocurrencies, then you can easily deposit them by going to your wallet in the app and transferring it. You will have to give your crypto address the information so that it can be deposited in vauld.
Step by step process:
- Go to the “wallet” option on the top of the website.
- Select which type of cryptocurrencies you will be transferring. For example, bitcoin, Eth, or anything else.
- After this, your deposit address will be shown so that you can now share or copy the information.
- You have to now copy this deposit address and in the other platform’s (the one from which you wish to transfer or deposit from) address section.
- You will now be able to make all the transactions. However, note that both platforms’ cryptocurrencies need to match, and you can not expect to deposit an ETH in your bitcoin wallet.
- If you want to view the details of the transactions, then you can do that by clicking on “History.”
Image source:https://www.cashoverflow.in/wp-content/uploads/2021/10/Vauld-Dashboard-800×411.png
Do note that you will have a separate “Wallet” for each type of cryptocurrency that you deposit.
You will have to deposit a minimum of 1$ worth of cryptocurrency, and there is no limit for the maximum amount that can be deposited. Some review websites have noted that other types of Crypto except for bitcoins get reflected in your account instantly, but it usually takes about 1-6 hours for the bitcoin deposit to show in your “Wallet.”
Vauld Crypto Services
There are many crypto services that vauld offers you!
Create Vauld FD & Earn Interest
Just like how banks do, you can earn money out of the cryptocurrency that is simply sitting in your account. The idle currency will be transferred to a “centralized pool,” and for which valud will pay you the interest rate for doing so.
Each type of cryptocurrency has different interest rates, and some are not eligible to earn interest. For example, Bitcoin has 4.60%, Ethereum has 4.60%, Tether has 12.68%, Uniswap has 1.00%, and so on.
To be able to access this interest for this FD or Fixed Deposit, you will have to opt for it. Go to your vauld home screen and find the “Fixed Deposit.” After clicking on that, you can choose which type of cryptocurrency to want to earn interest over.
You will then have to click “Toggle” and switch off the auto-renew option. By switching off the auto-renew option, the principal and interest you earn will automatically return to your wallet at the end of the month from which you enable the FD.
At last, you click on the “Create Fixed Deposit,” and you will start receiving messages about the transaction.
Is Vauld FD Safe?
There are not many reviews by the users about the safety of the Fixed Deposit options in vauld; however, in general, it has fairly good safety. The app is partnered with BitGo for insurance and custody. This insurance company covers up to $100 million if you face any case of hacking attacks.
How does Vauld give interest?
The amount you earn through the interests will depend on what type of currency you choose to earn interest from. If you deposit 1000 USDT, the vauld will apply 12.68%. You will have to apply the compound interest concept, and it will allow you to renew it every three months. At the end of the 3rd month, you will have earned 30.30 USDT extra.
Automatic Investment Plan (AIP)
The Automatic Investment Plan or (AIP) is an investment opportunity that lets you deposit money in an investment account. The money for the account will get automatically deducted from your paycheck or your personal account.
It is a very fruitful investment strategy that will let you automatically maintain funds that you can use for several purposes. You can earn simple dividends and reinvestments through automated robots that give useful financial pieces of advice. Most funds for pensions will automatically get invested through other ways, including pre-tax.
You can consult your employers for ideas and programs through which you can divert your investments and plan for your future. Vauld offers several crypto baskets for you to choose from. Some are, All In One Crypto, Best Of Centralised Token, and more.
Earn Vauld Savings Interest Rate
As we already mentioned, you can make some money out of the Crypto that is just sitting idly in your account. Vauld will pay you interest if you sign up for the savings interest rate option. The interest rate for each type of cryptocurrency.
For example, USDT has 12.68, Bitcoin has 6.70%, Ethereum has 6.70%, and so on. However, other cryptos like BNB, DOT, DOGE will not gain you any interest.
Borrow Crypto from Vauld
Just like how you can gain interest from your idle, you can also borrow cryptocurrencies in vauld. However, in this case of borrowing, you will have to pay a certain amount of interest for it. It is similar to a loan that you might acquire from a regular bank.
You can borrow up to 66.7% of LTV, and you get instant approvals for it too. So, now, you will be able to receive your tokens immediately. You will also clearly get to know the amount of interest you are paying.
Trade Crypto on Vauld
This is another service provided by vauld. You can not only borrow or earn interest, but you can also trade your cryptocurrency. That is, you can either buy or sell Crypto.
Through this service, you get access to the liquidity of over $50 million, and you will have to pay 0% maker fees and 0.05% of takers fees. As you trade, you earn interest! Yes, even by trading, you will be able to earn interest on the tokens you own.
Vauld Platform Security
As already mentioned, the vauld platform is in partnership with BitGo, the market leader for insuring cryptocurrencies. The platform seems to understand the risk behind online transactions and digital currencies, and they have taken all needed measures to ensure the safety of your assets.
The vauld platform has $100 million worth of insurance that would cover any or all types of damages that can occur to your assets. Either a third party attack such as hacking, or some internal error through a dishonest employee, or any intentional or unintentional human error will be covered through the insurance.
Although the platform ensures maximum safety, they also need to prepare for any damages that might occur. So, do fear that the platform is not safe as they insure everything. It is always better to be safe than sorry.
Vauld Fees & Charges
There are many fees and charges that you may incur as you transact in vauld. Some of them are:
- Withdrawal and deposit fees for INR
- Withdrawal and deposit fees for Crypto
- Trading fees
These are the common types of fees and charges; however, do note that this will change according to the type of tokens and what service you use. You can get trading fees from here.
Pros & Cons of Vauld
| Pros | Cons |
|---|---|
| All types of payment methods allowed. | Does not allow to order book based trading |
| Quick KYC approval | It is only possible to FD 30 cryptos |
| Can get access to $50 million liquidity | You do not gain interest earnings on trade only coins |
| Crypto circle- a space to discuss the digital currencies | |
| Instant borrowing approvals | |
| No hidden fees | |
| Payback anytime |
Vauld Review Conclusion
To conclude, Vauld seems to be an underrated crypto trading platform that offers many services and tools for those looking to dwell deep into digital currencies. You can earn interest and even borrow whenever needed. It works similar to a regular bank, which makes online trading much easier. Overall, it is a great platform for any trader. Hope you found our Vauld Review helpful, you sign up on Vauld from here.
