Looking for a safe and secure way of earning interest on your SBD holdings? Introducing SBBank - the Steem Backed Bank.
SBBank is now open for business and accepting Steem Backed Dollar deposits of 200 SBD or more. In return for depositing your SBD with SBBank, you will receive monthly interest payments which can be paid to your nominated Steem address, or added to your deposit balance and compounded. The minimum deposit term is one calendar month.
Deposit Rates
- 0200-0999 SBD - 10.42% per annum (0.83% per calendar month)
- 1000-2499 SBD - 11.48% per annum (0.91% per calendar month)
- 2500-5000 SBD - 12.68% per annum (1% per calendar month)
Deposits in excess of 5000 SBD will be paid 12.68% per annum, plus a discretionary bonus rate that will vary from month to month.
Deposit Process
- Go to your wallet page, click on your SBD balance and select transfer
- Enter sbbank in the "To" field
- Enter the amount of SBD you'd like to deposit
- Enter the number of months you'd like to deposit for in the memo field
- Click "Submit" and enter your account's active key to complete your deposit
For security reasons, deposits and interest payments will only be returned to the Steem account that made the deposit.
We won't
- Exchange your SBD for Bitcoin and other cryptocurrency for the purpose of speculation
- Use your funds to make unsecured loans or high risk investments
- Promise "get rich quick" HYIP returns and then pull an exit scam
- Mislead the Steem community about SBBank's goals or financial health
We will
- Exchange your SBD for Bitcoin and other cryptocurrency as a means of obtaining USD
- Use USD funds to make low-risk, secured loans in a market that's never had a default
- Promise and deliver returns far in excess of what you'd receive at a traditional bank
- Keep the Steem community up to date regarding SBBank's financial health and performance
Our Goal
Rather than an end in itself, SBBank is intended as a proof-of-concept for a substantially larger operation. Though our revenue model is more than sound, this venture would require vast amounts of capital to make it truly worthwhile. In the event that SBBank conducts an initial coin offering (ICO) at some point in the future, SBBank depositors and the Steem community will be offered advantageous pricing and the right of first refusal.
Want to know more?
SBBank is owned and operated by @Bulleth, @Scaredycatguide and @techblogger. We are a team of forex, crypto and equity traders with decades of combined experience in the financial markets. Though we can't tell you much more about our revenue model, feel free to reach out to any of us on the SBBank Discord Server if you have any questions or you'd like a little more information.