What is Crypto Savings?
What is Crypto Savings? Our Crypto Savings functionality consists of automated monitoring of asset prices available at Monnos on different global exchanges.
Whenever there are price differences for the same asset that justify buying and / or selling, the operation is carried out and gains are accumulated that are shared with the users who own the asset in question. However, there is no promise or guarantee of gains, just that there will be no losses, since for this automation to have results, it depends on the volatility of the market and our algorithm does not perform operations if are not sure of gains in the operation.
You can check your earned savings balance on the Crypto Savings screen within the Monnos app as in the example below.
Main screen > Crypto Savings
How to earn income having cryptocurrencies withing Monnos?
To earn income you only need to have cryptocurrencies at Monnos, regardless of whether they are in a Sync Strategy or just in the wallet. All cryptocurrencies are eligible for Crypto Savings participation (Attetion: BRL is not a cryptocurrency).
Some assets will perform better than others because they have more volume, liquidity and a greater number of exchanges where Monnos is connected. Crypto Savings is distributed every Thursday and you will be notified as soon as you receive it in your application.
Attetion: Not every asset will generate earnings every week, it may happen that an asset goes months without earnings. Only that there will be no losses, since for automation to have gains, it depends on the volatility of the market and our algorithm does not perform operations if you are not sure of gains in the operation.
Monnos Performance - See the APY of each asset
In the Crypto Savings screen, you can see the APY (Annual Percentage Yield) of all assets available at Monnos. As we can see in the example below, XLM has an annual percentage yield of approximately 29.67%, which is constantly updated based on a calculation in your earnings history.
Main screen > Crypto Savings > Monnos Performance