How to Save as a Cooperative on Xend Finance

How to Save as a Cooperative on Xend Finance

Bring your cooperative savings on Xend Finance. Save as a group in BUSD, a stable currency pegged to the Dollars. 1 BUSD = 1 Dollar. So, basically, your group is saving in dollars, preserving the value of your cooperative savings.

On Xend Finance, you can create your own cooperative savings cycle with your members or join an existing cooperative savings cycle. 

Steps to save as a Cooperative

  1. Visit bsc.xend.finance to start.

  1. Download and Connect to MetaMask.

Setting up your MetaMask

  1. Access the Settings on MetaMask
  2. Locate the Add Network in Settings
  3. Click the Add Network and input these details in the fields:

    Network Name: Smart Chain
    New RPC URL: https://bsc-dataseed.binance.org/
    ChainID: 56
    Symbol: BNB
    Block Explorer URL: https://bscscan.com

  1. Save and leave the Settings
  2. Copy your wallet address from Metamask
  3. Send BNB and BUSD to your Metamask
  4. Download Binance.com on your device to buy BUSD & BNB

Using Binance.com

  1. Create your Binance Account.
  2. Sign up with your email address or mobile phone number. Can also download the Binance app from the App Store or Google Play store and open an account there.
  3. Instantly buy BNB with your credit or debit card in your preferred currency.
  4. If you have BUSD and BNB already, you can send them to your Metamask wallet address
  5. Copy your wallet address from Metamask
  6. Do a withdrawal from Binance to the copied address

Create a Cooperative Savings Cycle

  1. Click on Cooperative Savings
  2. Create a New Cooperative Savings Group

  1. Input your Cooperative name and symbol
  2. Specify the maximum members, cycle, start date and end date.

Now you have deposited the first savings in the cycle, share your Cooperative savings with your Cooperative members to join the savings cycle in just a few clicks, and they can also deposit just like you did.