How to Make Transactions with Your Digital Asset Savings?11 min read

How to Make Transactions with Your Digital Asset Savings?11 min read

Earlier, if you wanted your digital asset savings to build up over time, the go-to account was a bank savings account. 

But as financial technology has progressed, a new exciting form of savings has appeared – digital asset savings. Today, let’s talk about the fundamentals of digital asset savings and its operation.

What are Digital Asset Savings?

With digital asset savings, you can store your crypto assets in a safe account with an online bank such as The Kingdom Bank, just like you would for fiat money. We store your crypto in cold storage vaults that prevent theft or hacking. 

Meanwhile, having your funds in a bank-rated account, which is connected to the world market, lets you transfer and cash them as needed.

The main benefits of digital asset saving include:

• Multicurrency wallet– Enables you to store, save and transfer major cryptocurrencies and other fiat currencies in a single wallet.
• Secure – The Kingdom Bank generates, stores, and monitors your private keys using bank-grade security to ensure the safety of your assets.
• High interest rates– Make returns on your crypto assets just like in a savings account. Rates may vary depending on asset and market dynamics.
• Easy access – Access your account and perform transactions with The Kingdom Bank on the mobile and web platforms.

Digital asset savings provides you with the benefits of traditional banking on your crypto assets. Let’s see how we can use these savings to send and receive digital assets.

Can I Withdraw My Digital Savings at Any Time?

Whenever you store digital assets in The Kingdom Bank, you can manage your money in the most convenient way possible. You can deposit or withdraw crypto or fiat funds from your account 24 hours a day.

When you want to access your digital savings, simply login into the The Kingdom Bank mobile or web app. Click on the asset you want to send, type in the amount and enter the wallet address of the beneficiary. Bank withdrawals happen on the spot and you will have your money in the target wallet within minutes.

No limits to how many withdrawals you can make. Nonetheless, blockchain transaction fees may apply based on the state of the crypto network. Such charges are typically modest.

You can have access to your digital savings from The Kingdom Bank any time you want without any limits. The money stays under your thumb and is available for you to spend whenever you want.

Is There a Minimum Balance Required to Transact Crypto?

With digital asset savings in The Kingdom Bank, transactions are typically not subject to a minimum balance requirement. That will give you the most flexibility no matter your account size.

Below are some important minimum balances:

• With big coins like Bitcoin and Ethereum you can withdraw or deposit as much as you want, no matter how little. Fractional amounts are supported.
• For non-liquid crypto assets, banks may set small minimums (e.g. $ 25) just for blockchain fees. But these are usually reasonable.
• You don’t even need to keep a certain amount of funds in order to start earning interest on your assets. Yields are equal to all balances no matter the size.
• The ceiling is the same for fiat payments. You can access or spend any fiat money from your associated bank accounts.

The Kingdom Bank is looking to lower the barriers to entry by not creating arbitrarily low minimums. 

This lets even small crypto savers access the platform’s banking functions. Invest and exchange your digital assets without limitations.

Can I Exchange My Digital Asset Savings for Different Currencies?

Due to the crazed nature of crypto markets, coin values can sometimes trade dramatically off one another. That’s where the exchange features of The Kingdom Bank’s digital asset savings comes into play.

You can easily move from digital assets accepted in your account to the digital assets supported, such as BTC to ETH or stablecoins. 

Just click “Exchange” on your asset page, select the coin you want to receive, and type in the amount. The funds will be instantly converted at the market price without trading charges.

This offers you the opportunity to flexibly adjust your portfolio as prices fluctuate. 

You can also use exchanges to exchange your coins for a stablecoin before transferring it off-chain to avoid volatile flows while transferring. Everything exchanged is tracked on your account transaction logs.

Best Online Bank to Open Digital Asset Savings in a Secure Account

In terms of crypto banking and crypto saving bank, The Kingdom Bank is arguably one of the most trusted and established banks in the world. 

Here are the most important reasons:

• Regulated banking license: The Kingdom Bank is licensed and regulated as a bank by the Financial Services Authority of Dominica. This gives you the stability and oversight that banking regulations bring.
• High-security: All digital assets are backed up by military-grade encryption and cold storage to avoid hackers and thieves. You can also insure the funds up to 500,000 EUR.
• Support for multiple coins: Deposit and transfer funds in a variety of coins, including major coins such as Bitcoin, Ethereum, and other stablecoins – one of the largest offerings in the market.
• Accessibility: Enjoy easy withdrawals, deposits, exchanges and much more using our easy to use web and mobile apps.
• No catchy fees: The Kingdom Bank doesn’t have any deposit/withdrawal fees or minimum balance requirements, meaning you keep more of your winnings.
• International accessibility: You can create an account from all around the globe and have crypto banking in several languages.

The most secure and intuitive place for saving digital assets and investing in crypto is The Kingdom Bank’s regulated banking infrastructure and crypto services, making it the best option when it comes to crypto friendly banking.

Digital asset savings offered by online banks such as The Kingdom Bank offers the best combination of security, convenience and access to your crypto portfolio. 

If you hold your crypto in a licensed bank account, you enjoy all of the banking services that are available for your digital currencies. These include profit maximizing, completing seamless payments across the globe, and currency conversion in an easy way. 

In particular, The Kingdom Bank offers strong security, a comprehensive range of services, and high limits. 

If you want to boost your crypto savings, sign up with The Kingdom Bank now!