High Inflation Beaten By Earning 10% A Year With A 9 Minutes Setup, Reveals A Step By Step Guide Presented By The Fintech Mag
Submitted by: The Fintech Mag
2022-06-23 00:01:01
After scanning and testing different classic savings and high-interest platforms, The Fintech Mag brings a 3 steps guide to help people (investors or not) to beat high inflation.
The Fintech Mag team scanned the market trying to find the best technique to face high inflation with the best-earning rates. They compared 32 different options (around 10 per currency, USD, EUR and GBP) including Savings Accounts, ISA's, Robot Advisors, Brokers and Funds.
Their findings say that at least with these three main currencies, is very unlikely to find any classic financial product that gives you more than 3% a Year. That's why 10% a Year is an outstanding interest output and is so relevant in high inflation times.
The study considered not just the interest rate itself but also the experience on the platforms on aspects like:
Onboarding
Safety
Transparency
Financial Regulations
Bank transfer process
Sub-products options
Follow up Dashboard/stats
Ease of withdrawn
In a nutshell, the whole cycle of Money top-up>Earning>Withdrawing and all the variables in-between.
The Fintech Mag team discovered that the biggest pains on most of the platforms were:
Too much red tape and bureaucracy in registering processes
Dodgy aspects (a few look like pyramids)
Hidden fees
Lack of regulations by financial institutions
The slow money top-up/withdrawal process
Poor analytics/stats
The Fintech Mag is a website focused on reviewing digital financial products, giving tips on Personal Finance and covering the Fintech space worldwide.