Take a glance at any UK savings account and chances are the rates are in the 1% range. Or, if you’re seeing an eye-popping 5%, it is likely that there are extremely rigid terms and conditions, such as forcing you to make a deposit every month or high minimums. Often these accounts only last a year, and the savings account providers or big banks limit the amount you can save. High rates are generally used as advertising tools without much to support the claims. Cred is thrilled to now offer interest on the British Pound.
This is especially alarming since a quarter of British adults have no savings. At Cred, our mission is to improve the traditional financial services offerings by making use of blockchain technology and our lending and borrowing expertise. The results are better rates for everyone, whether you hold crypto, precious metals, or fiat currencies — including the British Pound!
Uphold customers who hold at least 10,000 LBA will now be eligible to earn 8% on the GBP, along with the most competitive rates on many other fiat and cryptocurrencies like XRP, BTC, ETH, USD, Euro, and gold.
“We’re thrilled to leverage blockchain technology to provide holders of the British Pound and Universal Euro some of the most competitive rates available.” — Dan Schatt, President of Cred
With talks of the Brexit delay and fiscal uncertainty, the inflation rate of the GBP has affected interest rates in a savings account in Britain. Financial products like CredEarn offer British citizens another option of GBP.
Key Features and Benefits
- Buy British Pounds when exchange rates are favorable and have them available when you need them.
- Competitive interest rates compared to average interest rates in the UK.
- Interest is annualized and paid quarterly.
- No minimum balance and no monthly fees. Your money works harder with CredEarn compared to big banks with no monthly administration fee.