Help Center

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BSave Help Desk

What is a BSave Account?

A BSave account is a unique savings solution allowing you to securely store your Bitcoins while receiving daily interest payments.

You have immediate access to your funds and your interest payments are credited to your BSave account every 24 hours.

BSave enables you to profit directly from your dormant Bitcoins and is a unique secured solution for both short­ term and long­ term savers.

Why using a BSave account?

We created an easy to use solution for investors who want to earn short to long-term interest without the risks and drawbacks of fixed income products. BSave acts as a P2P Margin provider on exchange platforms to generate interest. To do so, complex algorithms have been developed to optimize bitcoin deposits and lending rates. In the Bitcoin ecosystem, BSave provides a value-added service to savers (“hodlers”).

What interest rates will I receive?

BSave makes daily interest rates. The amount paid depends on the term and the amount deposited in the savings account as well as on contemporaneous margin loan rates. A complex algorithm calculates interest to be paid to ensure you will receive the correct payment. Our platform displays a projection of your daily estimated payment, as well. You can see your entire savings history on your account page, including interest earned for the prior day, for the prior week, for the prior 30 days, and total interest earned in your BSave account. Additionally, we calculate your expected annual return.

How often is interest paid?

Payments are made every 24 hours at a set time. Payments are made directly to your BSave account.

How do I make a deposit?

At account opening a unique address and QR code are generated for your BSave account. This is a unique address you can use to securely transfer Bitcoins to your BSave account. For more information click here.

How much can I deposit?

There is no minimum amount or maximum amount set. However please note that the minimum amount BSave is able to pay on a daily basis is 1 bit of interest. As the BSave rate fluctuates, the minimum balance required to accrue interest ranges between 0.01 BTC and 0.05 BTC

How long does it take to process my deposit?

Typically, the duration of the deposit process takes 30 to 40 minutes for 6 confirmations. 

Can I make a deposit using any other currency, including other cryptocurrencies or government issued fiat currencies?

No. We currently only accept Bitcoin for deposits.

IMPORTANT: ALWAYS MAKE SURE THAT THE RECEIVING ACCOUNT IS OF THE SAME CURRENCY THAT YOU ARE TRANSFERRING. FOR EXAMPLE: IF YOU TRANSFER A CURRENCY SUCH AS BITCOIN CASH (BCH) TO A BITCOIN (BTC) ACCOUNT, SUCH AS YOUR BSAVE ACCOUNT, AND VICE VERSA, YOUR FUNDS MAY BE LOST ON THE BLOCKCHAIN.
BSAVE WILL NOT BE ABLE TO CANCEL/ALTER/RETRACT YOUR DEPOSIT AND WILL NOT BE LIABLE FOR ANY LOSS THEREOF.
How do I make a withdrawal?

To make a withdrawal, first, go to your online BSave account. Then Simply request a withdrawal by clicking on the withdrawal button. Fill your desired withdrawal amount, the destination Bitcoin address and press confirm.

We will then send you an email with a link to click on for double confirmation in order to process your withdrawal. This security measure is mandatory to avoid unwanted transactions on your account. Please note that BSave will not process the withdrawal until after you click the link we sent to your email – an event generated by your withdrawal request.

In case you don’t see our email after withdrawal request, make sure your email provider has not mistakenly sent it to your spam folder. For more information click here.

 IMPORTANT: ALWAYS MAKE SURE THAT THE RECEIVING ACCOUNT IS OF THE SAME CURRENCY THAT YOU ARE TRANSFERRING. FOR EXAMPLE: IF YOU TRANSFER A CURRENCY SUCH AS BITCOIN (BTC) TO A BITCOIN CASH (BCH) ACCOUNT, AND VICE VERSA, YOUR FUNDS MAY BE LOST ON THE BLOCKCHAIN.
BSAVE WILL NOT BE ABLE TO CANCEL/ALTER/RETRACT THE WITHDRAWAL REQUEST AND WILL NOT BE LIABLE FOR ANY LOSS THEREOF.
Can I make a withdrawal at any moment?

You may withdraw your funds at any time. Withdrawals may take up to 24 hours and may not be visible in your wallet until 24 hours transpires.

There are no withdrawal penalties. Our algorithm ensures you accrue the proper amount of interest on any amount held in your BSave account in minute-by-minute intervals.

What is the minimum withdrawal amount?

The minimum amount you may withdraw is 0.001 BTC.

How long until my BSave account begins to earn interest?

You accrue interest within the first minute of transferring Bitcoin to your BSave savings account and receive interest payments during the first day that you deposit into your BSave account.

DEFENDER

What is a Defender Account?

The BSave Defender Account allows you to hedge a nominal USD amount which reflects a Bitcoin/USD exchange rate upon “locking” your funds to US dollar value. In other words, when you “LOCK” your bitcoin, the Defender converts the amount to USD, and displays the market Bitcoin exchange rate, based on the nominal USD amount received. For example, if you “LOCK” 1 Bitcoin and the current exchange rate is 400 USD, meaning 1 Bitcoin=400 USD, you will then see on the Defender account 1 BTC. If, when “UNLOCK”-ing, the exchange rate is 1 Bitcoin=200 USD, the savings account will be credited with 2 BTC. This service can protect your bitcoin’s value from volatility on the downside, at the press of a button. Please note: the above example is simplistic and does not take into consideration volatility that will absolutely occur in the exchange rate during the LOCK and UNLOCK process, nor does it include BSave’s fees, etc. 

The Defender account is shown alongside your regular savings account on the BSave platform. You can easily transfer funds to and from your Defender account using your savings account.

Why using a Defender account?

The BSave Defender Account is an effective way to protect the value of your Bitcoins.

Once you lock a Bitcoin position in your Defender Account, the amount of Bitcoin will fluctuate relative to market volatility – the value will remain tied to the Bitcoin-USD exchange rate. While having your funds locked in a Defender Account can protect their value if the Bitcoin price falls, you also risk the opportunity cost of Bitcoin rising against the USD.

How do I lock my BTC?

When you want to defend your Bitcoin value, enter your BSave Account and click the “LOCK” button on the Defender account panel that is on the left side.

A Defender pop-up will open, allowing you to lock your BTC.

Enter the desired BTC amount out of your available balance.

The relative LOCK price will be visible in the ESTIMATED BTC/USD PRICE field. Please note, most of the time, bid-ask spreads will equal roughly 1%. However, that estimate may vary slightly during illiquid market conditions.

Confirm by clicking the lock button. Once completed, the Defender algorithm will compute the transaction price and the deal is done. You have just locked your BTC in a USD value!

To unlock the position click unlock on the Defender account pick the USD amount you want to unlock and release your position.

For more information click here.

What is the minimum/maximum amount for locking/unlocking?

The minimum amount you can lock per transaction is 0.1 BTC.

The maximum amount you can lock per transaction is 2 BTC.

The minimum amount you can unlock per transaction is 50 USD.

What are the Defender fees?

BSave charges a 0.5% fee for each Defender action. 

Can you send me my USD ?

The defender works as a variable Bitcoin balance that is based on the value of the asset Locked. Defender account balances are only redeemed in Bitcoin. The Lock amount can be redeemed in part, or in full at any point after the Lock has been confirmed.

How long can I lock for ?

You can lock your Bitcoins for as long as you want.

Security

How do you secure my funds?

At BSave, we use the Bitcoin industry’s best practices to maintain your deposit securely.

  • All website traffic runs entirely over encrypted SSL;
  • We maintain a multi-signature wallet. We apply double key control (one of the keys is controlled by us and the other is held by multi-signature custodian company) Splitting control of the keys between two companies makes the wallet much more secure because an attacker would have to compromise both BSave and BitGo, our trusted custodian, in order to steal the keys;
  • Passwords are stored in the hashed form: nobody other than yourself has access to your password;
  • Authy is our well-known 2FA system, used by firms such as Gemini and other well-known exchanges;
  • We are relying on well-established and trustworthy platforms where, at a minimum, 99.5% of all Bitcoins are stored in a cold wallet.
Do I control my private keys?

No. Your deposit is loaned out so you cannot control your private keys.

What personal details are required to create an account?

We require first name, last name, and email address to create an account.

Please note that should we detect any suspicious activity occurring on your account, we may request additional information in order to confirm your identity and verify that your account is not used for illegal purposes.

Can I log into my BSave account through a 2FA system?

Yes. BSave has recently switched to Authy. In order to start using it, please follow these steps:

  1. Download and set up the Authy app;
  2. On the BSave website, click on Security, then enter your phone number;
  3. At this point, BSave 2FA should pop up in your Authy app;
  4. Enter the 2FA code in the BSave website to activate Authy on your account.
Can I change my email address?

For security reasons, there is no way to change an email address already attached to an active BSave account. If you still wish to use a different address, please withdraw all assets in your existing account and set up a new account with your new email address.

What are your plans regarding possible hard fork events?

At BSave, our top priority is protecting our customers assets. In order to effectively do so, we insist that any Bitcoin hard fork includes the following:

  • The hard fork must be coordinated via a clear on-chain activation mechanism and should have a generous grace period between activation and fork taking effect.
  • The hard fork must provide strong 2-way replay protection. This means that transactions valid on one chain should be invalid on the other, and vice-versa. Without this protection, users would only be able to safely transact on the chains separately by using explicit splitting techniques, which puts excessive burden on the end user.
  • The hard fork must provide wipe-out protection. This means, once forked, the fork should remain permanent. The software running the new fork should not be able to produce a reorganization back to the original chain, which would effectively wipe out the existence of the new chain.

Should a hard fork unfollow these policies, we will not support the coin and will not allow users to withdraw this coin from BSave.

Additionally, support of any forked currency is solely at the discretion of BSave. In case of a hard fork event and supposing both chains stay alive, customers who wish to access both blockchains at the time of the hard fork should withdraw their BTC from BSave since we cannot guarantee what will happen during the event or if BSave will support both chains.

Moreover, please keep in mind that we at BSave lend the coins to generate the interest. When someone borrows BTC, they typically borrow it to sell immediately to counterparties who cannot possibly be aware that the coins they purchased were loaned in the first place. Spot traders unequivocally own their purchases and are rightful recipients of the coins on the new chain and they can do with them what they like, whether that is selling them to others or taking them off the platform entirely.

To be clear, we do not intend to access or keep these coins. The administrative overhead of distributing any and all hard forked coins is prohibitive and BSave will not monitor or maintain balances of hard-forked coins.

In a future case where a block size increase has supermajority support of the community and is handled responsibly, BSave intends to follow said chain and we will communicate with our customers accordingly.

Miscellaneous

Are there any fees?

There are no fees for opening and maintaining a BSave account.

Why can't I see my Interest Payments on the blockchain?

BSave conducts off chain transactions for interest payment.

Why does the blockchain show that my deposited Bitcoins have been moved?

All deposits and withdrawals by our customers are monitored and tracked on the Bitcoin blockchain. BSave manages your deposit to generate the highest and most practicable returns possible. As a result, we periodically move Bitcoins in a secured and restricted manner in order to generate interest.

Why don't I receive the confirmation e-mails ?

Please make sure you checked any potential folder, such as spam. Alternatively, some mail providers like Outlook allow whitelisting some email addresses. If that did not fix this issue, please contact our support team.