Introducing SBBank: Earn interest on your Steem Dollars with SBD term deposits

Looking for a safe and secure way of earning interest on your SBD holdings? Introducing SBBank - the Steem Backed Bank.

SBBank is now open for business and accepting Steem Backed Dollar deposits of 200 SBD or more. In return for depositing your SBD with SBBank, you will receive monthly interest payments which can be paid to your nominated Steem address, or added to your deposit balance and compounded. The minimum deposit term is one calendar month.

Deposit Rates

0200-0999 SBD - 10% per annum (0.83% per calendar month)
1000-2499 SBD - 11% per annum (0.91% per calendar month)
2500-5000 SBD - 12% per annum (1% per calendar month)
Deposits in excess of 5000 SBD will be paid 12% per annum, plus a discretionary bonus rate that will vary from month to month.

We will

Exchange your SBD for Bitcoin and other cryptocurrency as a means of obtaining USD
Use USD funds to make low-risk, secured loans in a market that's never had a default
Promise and deliver returns far in excess of what you'd receive at a traditional bank
Keep the Steem community up to date regarding SBBank's financial health and performance

We won't

Exchange your SBD for Bitcoin and other cryptocurrency for the purpose of speculation
Use your funds to make unsecured loans or high risk investments
Promise "get rich quick" HYIP returns and then pull an exit scam
Mislead the Steem community about SBBank's goals or financial health

Our Goal

Rather than an end in itself, SBBank is intended as a proof-of-concept for a substantially larger operation. Though our revenue model is more than sound, this venture would require vast amounts of capital to make it truly worthwhile. In the event that SBBank conducts an initial coin offering (ICO) at some point in the future, SBBank depositors and the Steem community will be offered advantageous pricing and the right of first refusal.

Deposit Process

Go to your wallet page, click on your SBD balance and select transfer
Enter sbbank in the "To" field
Enter the amount of SBD you'd like to deposit
enable memo encryption by entering a # in the memo field, followed by your deposit term and 4 digit secret pin
Write down your secret pin and store it in a safe place
Click "Submit"
Transfers made without memo encryption will be rejected and sent back back to the account that initiated the transfer.

Important: Once you have made your deposit, come to the SBBank Discord server and send a direct message to @bulleth, @scaredycatguide or @locke. You will need to confirm your secret pin and provide a password which you will need in the event you lose access to your Steem account. You should write down your password and store it separately from your secret pin.

Want to know more?

SBBank is run by a team of forex, crypto and equity traders with decades of combined experience in the financial markets. Though we can't tell you much more about our revenue model, feel free to reach out to @bulleth, @scaredycatguide or @locke on the SBBank Discord Server if you have any questions or you'd like a little more information.