ParadSafe is an additional account for storing funds, without accessing the trading platform. It is analogous to an electronic wallet for storing money. You can use it to instantly deposit or withdraw money from your trading accounts. Two currencies are available: US dollar and Bitcoin.
Storage of funds
ParadSafe solves the eternal question - where to keep your money, in a bank or in cryptocurrency? Proponents of cryptocurrency savings appreciate the speed of transactions, the volumes possible and the lack of questions from banks. Proponents of banks determine the safety of their funds and their acceptance by the financial system. ParadSafe combines these two approaches, giving you complete discretion and protecting your capital from bank risks.
Margin support
There are situations in aggressive trading where the market is going against you and there is an urgent need for margin support. The ParadFinance team works hard to credit any of your deposits as quickly as possible, but sometimes it does take some time. In order to not be reliant on delays in processing, we suggest you keep a small amount of emergency margin in the ParadSafe deposit box.
Allocating funds between accounts
The ParadSafe account can be used as a buffer zone to transfer funds between trading accounts. You can lock in profits by transferring them from the trading accounts to the box where no trading is taking place.
Interest on the balance in the safe deposit box.
The funds in your ParadSafe account earn interest on the balance. A solution that beats any bank deposit. You can read more about the terms and conditions below.
Interest per balance - remuneration that is accrued on the ParadSafe account balance of your ParadSafe account once a month.
The interest rate on the balance is determined each month and ranges from 6% to 14%.
Interest is charged on the minimum balance for the month.
The crediting of funds depends on the currency you have chosen for the safe deposit box ParadSafe USD or BTC.
Interest for the previous month is calculated on the first day of the following month. of the following month.
Example of calculating interest on a balance in USD :
interest on the balance / number of days in the year
* by the number of days in the month * by the minimum balance amount per month.
Let's say the interest on the balance is 14%, the minimum amount of the balance in January
2023 was 10,000 USD, then the interest on the balance would be
0.14 / 365 * 31 * 10000 = 118.9 USD.
BTC uses the same formula.
The minimum amount to participate in the promotion is 1,000 USD / 0.03 BTC, maximum amount 39999 USD / 2 BTC.
Deposits and withdrawals are made in accordance with the customer agreement.