In this brief guide, we will be showing you how to take advantage of some key features of the ArbiSmart wallet.
1. Switching Plan Currency
Description:
If you own a locked savings balance in Bitcoin, Euro, or any of the other 25 currencies supported by the ArbiSmart wallet, you can switch the currency of the balance into RBIS at any time.
Benefits:
a. If your funds are in a currency that has experienced a sudden drop in price, by converting the balance into RBIS you are keeping your capital from losing value.
b. Balances in RBIS earn triple the interest rate earned by balances in any other supported FIAT or cryptocurrency, so by converting your funds into our native token you will be increasing your daily profits.
c. By converting funds into RBIS, you will be raising your account level, which will earn you a higher rate of interest on all savings plans.
Instructions:
Go to the ArbiSmart dashboard Wallets page. Click on MORE in the box for the currency of the balance want to change into RBIS.
Next, scroll down and click on MANAGEMENT and then click on Plan change
Select the new currency for the savings plan, from the Change lock currency, dropdown menu. Currently, funds can only be converted into RBIS.
Then, you can choose to keep the expiry date as it is or pick a longer time frame for the plan by clicking on an option in the Change term dropdown menu.
Now, choose the currency in which you wish to receive your daily interest, by picking an option from the Interest currency dropdown menu. Finally, click APPROVE to confirm the changes.
2. Topping Up Balances
Description:
This feature provides you with the choice to either maintain two separate balances in the same currency or top up an existing balance.
Important Note: If you top up an existing savings balance, you reset the clock. So, if your funds were originally locked up for 2 years, and you top up after 18 months, then instead of the funds just being inaccessible for another 6 months, they will be locked up for 2 years starting from the date that funds are added.
Benefit:
By being able to add funds to an existing plan, you can earn a higher profit from the larger balance.
Instructions:
Go to the ArbiSmart dashboard Wallets page. Click on MORE in the box for the currency of the balance you want to top up.
Next, scroll down and click on MORE for the plan you wish to top up, in the Active Plans section of the page
Now click on ADD FUNDS
Enter an amount in the field on the right. Click on the green MAX button to see the maximum amount you have available on the platform with which to top up your plan.
Click on ADD FUNDS to complete the process of topping up your plan.
3. Extending Savings Plans
Description:
ArbiSmart offers an extension option, 90 days before the expiry date. It allows you to re-lock the plan for the same period again, with a reward of 10% of the original APY. So, if your 2-year savings plan earned 30% interest, and you choose to extend it prior to expiry, you will earn 33% on the new 2-year plan.
Important Note: If your plan is imported from the previous version of the ArbiSmart platform and expires in 2023, you can extend the plan at any time prior to expiry. For these plans, the reward for renewal will be an extra 15% of the original interest on the capital. So, if you have been earning 30% interest, the renewed plan will earn 34.5%.
The Benefit:
In return for extending a savings plan you will be rewarded with up to 15% of the interest on the plan.
Instructions:
a. Go to the ArbiSmart dashboard Wallets page. Click on MORE in the box for the currency of the plan you wish to extend
b. Now, click on the green EXTEND button. The button also shows the higher interest rate that will be received if the plan is renewed.
c. To complete the renewal process and receive your 10%-15% reward for extending the plan, press the green EXTEND button.
