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Top 5 tokens to allocate to AAX Savings

Top 5 tokens to allocate to AAX Savings

Explainers AAX

14 Jun 2022

Finding success in crypto involves understanding and minimizing risk. Most digital currencies are highly volatile, which means prices can fluctuate on any given day. But if your risk appetite is low or you’re looking for passive income, AAX Savings is the place for you.

AAX Savings rewards users who subscribe their idle coins to a flexible or a fixed account. A fixed savings account gives higher rewards but you are bound by a lock-in period. This means you can’t withdraw the tokens until the subscription period is over. A flexible savings account allows you to withdraw at any time.

Here are five tokens you should consider allocating on AAX Savings:

Bitcoin

Bitcoin (BTC) is the first and most popular coin in the market. It’s synonymous with saying “crypto”. All other coins in the market are called “altcoins” or coins that are an alternative to BTC.

BTC is also slowly becoming a form of payment for goods and services. Regulatory authorities are softening up and initiatives are underway.

Subscribing your BTC to AAX Savings will probably be one of the smartest moves you can make right after buying the coins. It has endured years of ups and downs and yet it remains to be the longest-standing cryptocurrency in the market today.

Ethereum

Ethereum’s coin, Ether (ETH), has been called “The Next Bitcoin” and it’s easy to see why. Unlike BTC which is primarily a store of value, ETH has many different use cases in decentralized finance (DeFi). There are thousands of platforms and dApps built on the Ethereum blockchain, making ETH one of the most sought-after crypto in the market.

While the digital currency suffered major price drops during the ongoing slump, analysts are hopeful that its price will increase in the coming years. Its potential continues to expand.

Binance

BNB, the utility token of Binance, is one of the more sought-after cryptocurrencies, whether it’s for trading or investing. It is currently ranking fifth in CoinMarketCap’s top coins by market cap with a 24-hour trading volume of $840 million as of writing.

The coin is backed by a platform with tremendous growth since its inception in 2017. Binance has grown an ecosystem of blockchain technologies such as Binance Smart Chain and Trust Wallet, among others.

Solana

Among the many so-called “Ethereum killers”, Solana has proven to be a big blockchain contender, promising low gas fees and better scalability. Its native currency, SOL, has outperformed many digital assets in the last couple of years.

Many promising DeFi projects are being built on the Solana blockchain, which could potentially increase its trading volume and price. It’s also worth noting that many tokens are migrating to Solana due to its cheaper fees and faster transactions.

It’s currently in CoinMarketCap’s top 10 best-performing cryptocurrencies by market cap with a $1.1 billion 24-hour trading volume.

USD Coin

USD Coin (USDC) is a stablecoin and its value is pegged to the US dollar. Meaning, 1 USDC will be equal to 1 USD. It is the second biggest stablecoin after Tether (USDT), boasting a market cap of $53.8 billion and a 24-hour trading volume of $4.7 million.

AAX currently offers up to 60% APY if you lock in your coins for a week. If you want to withdraw any time, there’s a flexible subscription with no lock-in period too!

Avoid FOMO and always DYOR

The fear of missing out (FOMO) is real in crypto due to the highly volatile nature of coins. A coin can cost a few dollars and jump to hundreds over a short period. As promising as it is, your crypto savings isn’t protected by FDIC insurance like your money in a traditional bank.

Always do your own research (DYOR) and remember to invest only money you can afford to lose. Digital assets are still largely speculative investments, meaning their returns are not guaranteed and there is a high risk of losses. To curb this, it’s still best to diversify your investment portfolio or choose a flexible, shorter-term savings product.

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AAX Trends focuses on market trends and analyzes essential events and factors in the cryptocurrency space. From DeFi, NFTs to GameFi and the metaverse, AAX has the answer to everything in the digital assets industry.

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