CashSafe has recently added a feature to the One Ecosystem, the OneLife wallet. If OneLife members have Euro in their wallet, they can use CashSafe feature to earn interest on fiat balance.
In a way, it is similar to a fixed deposit in a bank, but here the interest rate is different. At present, if we talk about the fixed deposit interest rate of HDFC Bank, then we get an annual interest of 5.45%.
One Ecosystem is a banking system that provides you bank service without any bank. Here, you can send payments from one wallet to another wallet. And also buy products and services with your ONE payment through the DealShaker eCommerce platform.
One thing that was missing in One Ecosystem was FD/RD. But now, OneEcosystem recently added this feature to the OneLife custodial wallet.
Where members can stake their fiat and will earn fixed interest on their holdings. The percentage of CashSafe interest depends upon the locking period.
What is CashSafe?
CashSafe is RD’s similar feature, where OneLife members can stake or lock their Euro balance for a fixed time period, and they will earn some interest on their locking amount.
It is a good initiative by the OneEcosystem company for all community members.
CashSafe Interest Rates
Interest rates depend upon the locking time period. If you stake your funds for 1 month, you will earn 1% Interest. If you hold for a long time, more interest will be provided to you.
Check the details below:
|CashSafe Plan||Interest Rates|
CashSafe Technical Terms
There are a few technical terms used in the CashSafe account. These terms may be complicated for some viewers. So I am explaining them in simple words.
The maturity date is the end date of your staking amount. Suppose you stake your cash on 1 January for 1 month. Then 30 January will be your Maturity date. On this day, you will receive your interest.
And you find two more options for restacking or cash out.
Automatic Cash Out On Maturity Date
If you will choose this option, your fund will become out from the cashsafe account and it will be added back to the cash balance. You can withdraw these funds to your BTC address.
Renew On Maturity Date
If you will choose this option, then your interest will be credited to your cash account. And your fund funds will be added again to the CashSafe account.