Flint Money Review 2023: Is It a Safe Investment App?
Flint is known as the first platform for exposure to passive crypto. In India, that goes further above buying and selling coins, and it provides timely access to this once-in-a-lifetime investment opportunity. The firm provides easy crypto diversification with high yearly profits.
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As per our research and Flint Money review, more than 25,000 consumers will have early access to the platform, allowing them to invest using INR deposits to transform into stable cryptocurrencies and generate profits. A one-of-a-kind platform aimed at making cryptocurrency simple and accessible to the general public.
Flint Money Summary
| Official Website | https://www.flint.money/ |
| Headquarters | Headquarter – Singapore Tech Office – Banglore |
| Found in | 2022 |
| Native Token | No |
| Listed Cryptocurrencies | USDT, UST, & USDC stable coins |
| Supported Fiat Currencies | INR |
| Minimum Deposit | No Minimum Deposits |
| Deposit Fees | No Fees |
| Trading Pairs | N/A |
| Trading Fees | N/A |
| Withdrawal Limit | N/A |
| Withdrawal Fees | No Fees |
| APY | N/A |
| App | Yes |
| Customer Support | Email, FAQ, & Twitter Support |
What is Flint Money?
The Flint Money platform addresses the three most pressing issues consumers have regarding blockchain implementation today:-
- Losing money due to price volatility.
- Navigating the complicated process of investing in novel de-fi protocols.
- the lack of a user-friendly mobile application.
It also transforms the deposited cash of the user solely into stable cryptocurrencies, which are not subject to price volatility. It abstracts out all the complexity for the consumers through an extremely simple-to-use mobile app. Users may join the waitlist by visiting Flint Money’s website and filling out some basic information.
How Does Flint Money Work?
Flint, passive crypto investing company, delivers primary crypto diversification with huge yearly profits and no lock-in term. The firm offers a one-of-a-kind investing opportunity to generate passive income and purchase and sell crypto tokens. Clients can invest in simple rupee deposits, transformed into stable cryptocurrencies and yield rewards.
Flint will only be investing in stable crypto coins such as Tether and USD Coin, which are often devoid of price swings. These stablecoins will be used to finance overcollateralized debts to institutional borrowers like hedge firms and exchanges.
According to the business, this is “probably the easiest and most basic way to generate a passive income on your bitcoin contributions.” Furthermore, the platform has no lock-in period, so investors may withdraw their assets without incurring any costs. Flint aspires to be a one-stop store for investors to gain exposure to various crypto assets.
Is Flint Money Legit?
The primary factor contributing to the overall volatility of the platform is the notion that it is still relatively new. Therefore, investors may not know what they should make of it just yet. Because Flint lacks the same historical proof as other asset classes, like equities, it may be more susceptible to massive price movements caused by shifting investor moods.
You can reduce the danger of investing in Flint Money by not purchasing more than you might be able to afford to lose. Any crypto-asset still has a non-zero possibility of losing value on any given day, so we advise you to proceed with caution and explore a diversified portfolio of assets in which Flint plays a lesser and more speculative role.
Moreover, all data exchange in Flint is SSL-encrypted, utilizing TLS 1.2. Aside from that, sensitive data is encrypted with AES-256 and securely stored.
How Is Flint Money Different from Others?
According to our research and Flint Money review, Flint Money differs from others in many ways. Here is some of the vital information that you must know:-
- It is not just about trading coins. It is more about creating income opportunities for those who are not aware of trading and are not active traders.
- It offers upto 13 percent ROI on all the stable coins that other platforms don’t.
- It allows you to make more money as the commissions they keep are pretty less when compared to others.
Key Features of Flint Money
Some functions are required for cryptocurrency exchange platform software, while others distinguish an exchange and attract users.
Wallets
A wallet is where users keep their money and other valuables. Users will benefit greatly from an exchange that has a protected wallet. However, an exchange must provide the best crypto wallets that handle several cryptocurrencies as then traders do not need to keep multiple wallets for different assets.
It is critical to verify that the wallet or wallet integration is absolutely secure. The price of your bitcoin exchange software may vary depending on the wallet integration and security features.
Intuitive Interface
Cryptocurrency and trading are unfamiliar to many traders. When a new trader wants to get their hands on cryptocurrencies, the first place he goes to is an exchange. As a result, a successful exchange must provide its consumers with a user-friendly interface. It must meet the requirements of both rookie and experienced traders. It must have a user-friendly interface that hides all of the complexity of bitcoin trading.
Liquidity and Fund Control
The primary need for any investment platform to begin operations is to secure liquidity. A trader will never deal with an exchange that has enough liquidity. Liquidity may be created in a variety of ways.
Decentralized exchanges, for instance, require traders to become Liquidity Providers (LPs) by investing their assets with the exchange. The exchange develops liquidity while the LPs receive interest on their deposits. A fund control plan is required for any exchange to function properly. Each fund control plan necessitates a unique set of security measures.
Trading Engine
Any cryptocurrency exchange platform must have a trading engine. Live price charts, volatility index indicators, and analytical tools for skilled traders should all be included in the trading engine.
You’ll need to develop smart contract logic if you want to launch a decentralized exchange instead of a trading engine. These smart contracts allow for trading and ensure that deals are entirely secure. Since smart contracts operate automatically, traders and exchange operators do not need to watch the deal.
Services Offered by Flint Money
This round of investment attracted over 60 angel investors from around the world. Kunal Shah, known as the creator of CRED; Sandeep Nailwal, co-founder of Snapdeal via Titan Capital; co-founder of Polygon; comedian Tanmay Bhat, Kunal Bahl, Abhishek Nag, Netflix director; as well as Marc Bhargava, Coinbase, Strategy, among others, were the angel investors.
As per the company, the additional funds will be used to accelerate initial customer onboarding, enhance product quality based on the early responses, and hire for higher positions in design, engineering, and product functions.
Flint also plans to use a significant portion of the funds to expand its legitimate and risky activities, guaranteeing compliance with the regulatory and legal requirements and, at the same time going beyond the standards of the market to decrease the risk involved in the business.
Instead of dealing in volatile crypto assets such as bitcoin or ethereum, the firm focuses on stable cryptocurrencies and stablecoins such as tether (USDT), USD Coin (USDC), and others.
Flint Money Review: Pros and Cons
Pros
Huge Possibility for Profit
Latest initial coin offerings (ICOs) have resulted in a slew of massive profits in a relatively short time. Consider Stratis, which raised $600,000 in its initial public offering (ICO) in June 2016. Furthermore, the value has increased by 63,000% since then. Spectrecoin raised $15,000 in its initial coin offering (ICO) in January 2017 and has since managed to grow by over 13,000 percent.
Shorter Time Horizon
Because Flint Money is a riskier investment, it’s best to compare it to venture capital and angel investing; for example, Datum initiated its initial coin offering (ICO) in October 2017 upon raising $1.5 million in pre-ICO funding.
Increased Liquidity
To make a profitable return on your investment in a company, you must either find somebody to buy the stock from you or wait for an acquisition or an IPO. However, none of these alternatives enables you to choose when you want to pay out your deposit.
Clearly Defined Execution Guidelines
The reality that entrepreneurs frequently have to pivot numerous times and overcome early speedbumps is probably the most considerable advantage of investing in Flint Money ICOs versus startups.
Cons
Increased Volatility
Cryptocurrency ICOs are, of course, considerably more volatile than buying stocks or even real estate. Hacking attacks, for example, might cause shareholders to lose all of their money very rapidly. Such extreme events are uncommon, but significant decreases in ICO value are not unheard of.
The Possibility of a Network Stall
Any cryptocurrency’s true worth is determined by its ability to create a solid product that many people will desire to use. On the other hand, if these networks failed to encourage users to use their website or never get consumers to use the platform, the valuation of the currency would most certainly fall.
The Possibility of Resource Scarcity
The doors close, and the network truly takes off in case Flint Money ICO does not generate enough funds or the firm spends more funds than projected, much as startups might run out of resources or not be able to continue operating.
Getting Started with Flint Money
More than 25,000 customers will be granted early access via a waitlist. They will be able to invest using simple INR deposits, which will be converted to stable cryptocurrencies to generate returns. Flint.money, a one-of-a-kind platform, aims to make cryptocurrencies simple and available to everyone. There is no information on when the next waitlist will be available or when the registration process will start.
Flint Money Fees
The cost for utilizing Flint as a platform is free, with no fees for purchase or sale. There are no transactions or even any account fees with Flint. Fees are connected with each fund. However, they are levied within the financing rather than directly to the user. You should read the applicable product disclosure statement and try to understand the costs connected with the fund before deciding to invest in it.
For all funds, the minimum initial investment is Rs.10,000, and this will be later decreased to Rs.5,000. Flint holds a small portion of the investment return as fees and transmits the majority of the benefits to you.
Flint Money Supported Stable Coins & Networks
Currently, the platform supports INR deposits and USDT, UST, and USDC stable coins. It will soon expand its services during the 1st week of April 2022. They are currently working on the security and safety regulations to onboard other coins into the platform to provide the best service and experience to the users. However, the networks that are supported by Flint Money are Ethereum, Solana, Terra, and Polygon.
Flint Money Risks & Taxation
According to a statement issued during the budget session on February 1, 2022, the government of India has presented that any profit made from cryptocurrencies (referred to as ‘virtual crypto assets’) would be taxed at 30%.
Besides that, the exchange or de-fi platforms will deduct a TDS of 1% on cryptocurrency trading. Although the significant details are precise, the Indian government needs to be more specific.
The significant risks involved are:-
Legal and Regulatory Risk
Non-crypto-friendly countries could impose restrictions on Flint’s operational processes in their nation and request them to stop operating. Flint’s head office is registered in Singapore, a crypto-friendly country. In the event of regulatory challenges, Flint cannot be shut down by local authorities, and your investments will be returned safely to you anytime.
Credit Risk
Even if Flint’s borrowing partner declares bankruptcy, they will suffer a principal loss. Flint mitigates this by dealing with various borrowers and diversifying capital deployment toward de-fi protocols. This reduces Flint’s credit risk exposure to a single party and makes the place safer.
If the borrower defaults, Flint will always have their collateral, which Flint will be able to sell to recover your money. Flint will not be able to retrieve the capital if the market fails to find a buyer for these collaterals.
To mitigate this, Flint only accepts the top ten cryptocurrencies by market capitalization as collaterals, such as BTC, ETH, and others, which have deep cash flow in the market and often will have new buyers.
Flint manages these risks through a team of experts with diverse skill sets in conventional finance and web3 protocols. The team comprises employees in the company and industry professional consultants.
Flint Money Security Measures
All data exchange in Flint is SSL-encrypted and uses TLS 1.2. Aside from that, sensitive data is encrypted with AES-256 and securely stored. This means that your money is highly secure with Flint. Flint employs industry-leading security measures.
To ensure the security of your investments at their partner entities or de-fi protocols, the team continuously monitors the process to ensure that their security is up to date and impenetrable. Flint employs DDoS protection, frequent stress testing, and multi-signature authentication systems to ensure world-class security.
Flint has a pervasive protocol for providing financially stable coins and appears to work with the industry’s best partners to keep its operations as risk-free as possible. On the other hand, stable coins held within Flint are not covered by any deposit protection insurance contract.
Flint Money Supported Countries
Flint is a worldwide product that invites visitors from all around the world. Flint began operations in India and is gradually expanding throughout the globe in response to consumer demand.
Flint Money Customer Support
Flint Money has some of the friendliest and most competent customer service representatives inside the game. The only way to get in touch with customer support is via email. There is no live chat or call support available now, but it could be available in the future. However, there is a faq section where users can get the answers to their queries very easily.
Flint Money Review: Conclusion
Flint is similar to other investment platforms, and it charges no platform administration costs and offers high returns along with a minimum commitment of Rs.10,000. The platform is different from others in a way that it invests in stable cryptos and avoids highly volatile coins. The funds are mostly professionally managed, and the platform promises upto 13% returns on the investment. Flint will soon become a one-stop store for anybody interested in gaining exposure to various crypto assets.
FAQs
Is Flint Money Safe & Legal?
Yes, Flint Money is safe and legal to use.
What Is Flint Money Used For?
It provides income-generating chances to users with less or moderate risks, especially those who don’t perform active trading opportunities.
Is there Any KYC Process Required in Flint Money?
No, Flint Money does not require any KYC.
Are the 13% Returns Guaranteed in Flint Money?
No, the 13% rates of return are not guaranteed. On the other hand, Flint Money is willing to keep the rates of return stable. They will notify you in advance if we anticipate any changes in expected interest rates. Keep in mind that your deposits have no lock-in period and that you can withdraw at any stage.