💸HaloFi Save FAQ

Start growing your crypto savings!

What is HaloFi Save?

HaloFi Save is our digital savings app, enabling you to earn interest on your digital USD stablecoins. It is a place you can keep your money and watch it grow.

Why should I choose HaloFi Save over other savings options?

With HaloFi Save, your savings can grow faster than in many traditional banks. You'll be saving in digital US dollars, which is a stable form of money, and not as affected by local currency changes.

What kind of returns can I expect on my savings?

Your savings with us earn interest. Historically, our users have seen growth ranging between 1% to 7% per year. Plus, by saving in digital US dollars, you shield your wealth from the instability of local currencies, which in places like Kenya and Nigeria can lose as much as half their value in a short time.

How often will my savings increase?

Your savings earn interest continuously. This means you'll see your money grow every minute, bit by bit. No matter how short you save, you'll always end up with more digital dollars than you started with.

How do I start and make my first deposit?

Starting with HaloFi Save is simple. Connect your digital wallet, decide how much you want to save, and make your deposit. Need more guidance? Check here.

What is a digital wallet and why do I need it?

A digital wallet is like a virtual bank account for your digital money. To use HaloFi Save, you'll need one. Some easy-to-use options for your smartphone are Valora, Opera's MiniPay, and Coinbase Wallet. They help you manage and keep your funds safe with us.

What digital currencies can I use with HaloFi Save?

For now, we support Celo Dollar (cUSD). It's a stablecoin, meaning its value is stable and you can transfer it for very low fees. External service providers like Kotani Pay and Bitmama can help you convert your local money to cUSD. Some wallets, like Opera's MiniPay, also offer this service.

Can I get my money quickly in emergencies?

Absolutely! With HaloFi Save, you can withdraw your savings anytime. Most withdrawals are processed super fast, often within under one minute.

Will I be charged any fees?

At the moment, using HaloFi Save is free. In the future, we might have a minimal fee for actions like deposits or withdrawals. While there are tiny blockchain transaction costs, they're much cheaper than what you'd find with traditional methods — currently less than $0.001 per transaction.

Are there limits on how much I can save or take out?

You can deposit as much as you want. For withdrawals, there's no set limit from our side. However, the underlying lending market needs to have enough funds for large withdrawals. Typically, this isn't an issue for amounts below $100,000. For more details, check our documentation.

How safe is my money with HaloFi Save?

Your money's safety is our priority. We use public blockchain technology, ensuring the utmost security for your savings. We don't have control or access to your funds: you're always in charge. Want to know more about our security? Dive into our documentation.

Can I use HaloFi Save alongside my existing bank or cash savings?

Yes, you can! HaloFi Save is a separate platform, so it won't interfere with your existing bank or cash savings. It's just another way to grow your money.

How is HaloFi Save different from HaloFi Challenges?

Both products are part of the HaloFi family. HaloFi Save, launched in 2023, focuses on helping you grow your savings with interest. While HaloFi Challenges, launched in 2020, was designed to help global communities save through structured challenges by rewarding dedicated savers. Curious? Check it out here.

Where can I find more details about HaloFi Save?

For an in-depth understanding of HaloFi Save and its features, visit our Technical Documentation.

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