How to Save as an Individual on Xend Finance using your mobile device

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17 May How to Save as an Individual on Xend Finance using your mobile device

Posted at 17:07h in How-to Guides by
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Xend Finance allows you to save a portion of your income and get significant return allowing you to reach your financial goals.

The currency you can use to save is BUSD, a stable currency pegged to the Dollars. Which means 1 BUSD = 1 Dollar.

To save on Xend Finance you need BUSD  and BNB for transaction fees.

You have two savings options:

  1. Flexible Savings: Save, withdraw, manage your money for free at any time with up to 16%  annual percentage yield (APY) and interests distributed daily. It's suitable for savers who need flexibility for their cash.

  1. Fixed Savings: Lock cash away for a fixed period of time with no access to it until maturity. It‘s suitable for users who need to save cash for a long time and earn better returns. 

Steps to make personal savings on Mobile

  1. Download MetaMask from https://metamask.io/ on your Android or iOS device
  2. Set up your MetaMask for Binance Smart Chain

Setting up your MetaMask

    1. Access the Settings on MetaMask on the Sidebar.
    2. Locate Networks 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
    4. Download Binance.com on your device to buy BUSD & BNB
    5. If you have BUSD and BNB already, you can send them to your MetaMask wallet address
    6. Copy your wallet address from Metamask
    7. Do a withdrawal from Binance to the copied address
    8. Search for bsc.xend.finance on your MetaMask search column
    9. Input the amount to save and perform the action.