App allows individual users to generate yields out of their crypto savings. The Monie app allows you to build a portfolio of crypto assets and gain 10% annual interest on crypto currency investments. This cryptocurrency savings account app is simple, intuitive and transparent - the perfect choice for crypto beginners.
The Monie app is the answer to booming crypto market demands, offering 10% annual interest on crypto currency investments. And that’s very interesting, both for individuals and businesses!
The Monie app allows you to build a portfolio of crypto assets and make profits from them every month. Monie is simple, intuitive and transparent, which means you don’t need to be a crypto guru to yield a profit!
Using Monie is seriously easy. All you do is create an account with your email, pass KYC (Know Your Customer) and then deposit your crypto assets to a specified address. It takes just 5 minutes to start generating a 10% interest rate!
Discovery workshop
4 team members
Cryptocurrency: USDC/Ethereum
Project duration: 3 months
A Discovery Workshop was set up to validate the technology used within the project. The main questions from the client were:
During the workshop we analysed the best crypto custodian services, identified tech risks, advised on technical integrations with external partners, and provided a features comparison.
This investment app was developed in an agile manner with the division split into sprints. The development phase lasted around two months and covered all the crucial features: digital wallet integration, two-factor authentication, KYC verification, and integrations with external partners or monthly statements.
Every crypto FinTech app is vulnerable to attacks of different kinds, including: fraud, password stealing and infrastructure attacks. The most important aspect in each FinTech app development is to provide a proper level of security.
Monie app developers guaranteed the highest level of security in every aspect.
To avoid unauthorised access, users are asked to scan the QR code in order to generate a token. They also need to confirm their actions with 6 digital codes sent to the mailbox. By default, the Monie app doesn't require 2FA, which makes an app user friendly for beginners, but it is a recommended option to increase the security of digital assets.
The KYC process is becoming vital for any FinTech businesses dealing with cryptocurrencies. In the case of the Monie app, users also need to pass a KYC procedure to deposit money in data storage. KYC verification procedures in Monie app are met due to integration with Persona.
Users can add and store funds to the Monie app digital wallet and use it for investment purposes. Users can see the real-time digital wallet balance within the app. To withdraw from the wallet, users provide the Ethereum address to which the accumulated money is transferred.
Without this basic but crucial feature the whole app couldn't exist. This feature allows the users to make a profit investing in UDSC stored in a digital wallet.
The Monie app generates automatic reports of all transactions and accumulated profits. Reports are generated each month and are available as ‘monthly statements’ on the user panel within the app.
Thanks to Fireblocks integration and MPC-CMP algorithm used in digital wallets, the transaction signing speed is 8x faster. Fireblocks eliminates every point of failure to prevent digital assets from cyber-attacks, internal collusion, and human error.
The Monie app lends assets to institutional borrowers through leading US based digital lender to generate monthly yields.
After the user registers and verifies themselves, we create a deposit wallet using the Fireblocks custodian platform. The user is then provided with an address that they can deposit money to. Each incoming deposit is saved in the system and reflected in the user’s balance; after that, the funds are eligible for investing.
The user earns interest from the deposited money, which is paid out on a monthly basis. The user can withdraw any amount of their funds at any time (there is a $5 withdrawal fee), including the earned interest. The interest is calculated from a minimum daily balance, so if the user withdraws their money in the middle of the month, the first two weeks will still yield a profit.
In order to satisfy the all market needs of our client, we have built a mobile application with all core functionalities: registration/log in, ID verification, crytpocurrency deposit and withdrawal or 2FA. Additionally, the app is user-friendly and have intuitive interface built with Flutter.
