Introducing SBBank: Earn interest on your Steem Dollars with SBD term depositssteemCreated with Sketch.

in #steem7 years ago (edited)

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 - 10.42% per annum (0.83% per calendar month)
  • 1000-2499 SBD - 11.48% per annum (0.91% per calendar month)
  • 2500-5000 SBD - 12.68% per annum (1% per calendar month)

Deposits in excess of 5000 SBD will be paid 12.68% per annum, plus a discretionary bonus rate that will vary from month to month.

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
  • Enter the number of months you'd like to deposit for in the memo field
  • Click "Submit" and enter your account's active key to complete your deposit


For security reasons, deposits and interest payments will only be returned to the Steem account that made the deposit.

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

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

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.

Want to know more?



SBBank is owned and operated by @Bulleth, @Scaredycatguide and @techblogger. We are 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 any of us on the SBBank Discord Server if you have any questions or you'd like a little more information.

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This is also a very good method for investing if you don't have much time for blogging and commenting. If you convert your SBD to steem power, I think you will gain more income.

I like it. A win/win situation for all. People need to stop leaving their hard earned money with the banks. Something as simple as this offers much better interest than you would ever find in a traditional brick and mortar bank.

Question though. Does this SBDBank have anything backing it? what exactly is the risk of a deposit depreciating or being completely lost?

The risk is all on our side. Irrespective of SBBank's performance we have committed to returning customer's deposits, with interest.

Regarding our risks, there are few things we have to consider: tx fees and exchange risk (SBD being expensive when a term expires), theft and fraud, as well as immeasurably slim risk of default by our counterparties. We have tried to set interest rates at a level that accounts for all these risks, whilst still delivering exceptional returns for a term deposit product.

That's an awesome Project guys 😃
A 10-12% return per year for a Deposit is simply amazing 👍

Thanks SB - hey we share a name!

12% P.A. is better than putting money in bank fixed deposit.

Yep and Dragonite is better than Dratini :)

Great project.. wish you all the success.. 12% return is very attractive.

Thanks @hms818, much appreciated. It might not be much in the crypto space, but for a deposit facility dealing with an asset pegged to the USD, it's a solid return. 12.68% if you compound your monthly interest payments.

Doesn't this discourage powering up? Even tho powering up has a similar/greater APR? I understood that gains for STEEM were at 9%... is the fact that you are putting the money in SBD the only difference/advantage? If so wouldn't enough people investing in SBBank worsten the problem STM is having holding value as a token?

It's hard to say - you can get much better returns by powering up and delegating via @MinnowBooster for example. On the other hand, STEEM is a very volatile asset and has been on the rocks for a while, SBD offers relative stability and security.

We're all for powering up - this is a 100% STEEM POWERED post after all :)

Very exciting! Deposit made.

Ding, ding ding - we have a winner. Savvy investor here folks.

It's incredibly refreshing to have that said about me!

It sounds like a great deal, but I'm a bit leary right now, but I'll keep an eye on this. If it lasts, I may jump in.

We understand completely, there are a lot of scammers in this space. I don't like to plaster my real name all over the blockchain, but it's available in the discord along with my professional twitter. I write for two foreign exchange brokers and I'm currently looking for capital allocation for my trading bot - I really can't afford to own/operate/or even be associated with a scam.

what kind of algorithm is used for cases when someone can't pay back their loans and wants to file for bankruptcy

Really great idea! It's amazing to see all these new apps and services appearing on Steem.

Excellent