Xend Finance Review: 100% ROI Token or Money Dump?

Xend Finance has been touted as a new easy option for millennials looking to save and invest their money.

In Nigeria, the raging inflation is not so depressing as it is inspiring; many people are now waking up to the reality of either making smart money moves or letting their finances turn to dust.

It is not unheard of for investors to start the year by throwing their money at several investment or savings opportunities out there.

Just name it. DeFi, stablecoins, fixed savings, High-growth stocks, mutual funds, cooperatives, index funds, etc.

As long as the bulk of your money isn’t left fanning the dust in your Nigerian bank account, then maybe you may have just made a smart money move.

Xend Finance is looking to capture this demographic with what looks like a holistic decentralized financial system with loads of incentives for investors.

But is Xend Finance worth the plunge? Is a 100% ROI on DeFi Tokens realistic and achievable?

That is what we’ll be looking at in this review. Hopefully, at the end of this piece, you should be able to make a financial decision that is good for you.

Let’s get started.

What is Xend Finance All About?

Xend Finance helps individuals and cooperatives save their money in stablecoins in return for interest up to 15% per annum.

Xend Finance says that the bulk of the savings on its platform are converted to stablecoins such as BUSD and staked on lending and staking platforms in return for compound interest.

How Does Xend Finance Make Money?

Xend Finance essentially makes money from staking the savings pool on its platform.

The compound interest accrued from its staking activities are then shared with its savers and investors.

How to Invest in Xend Finance

You could invest in Xend Finance as an individual or as a cooperative looking to earn some interest on your savings.

To get started, you’ll have to get a Xend wallet by downloading the Xend Finance app on either the play store or the app store, and registering an account.

How Much ROI Does Xend Finance Offer?

How much ROI you get by keeping your money with Xend Finance would depend on the plan you choose.

You could earn a maximum of 15% ROI on your wallet savings, but that will depend on how long your savings plan is.

Users could also earn up to 70% ROI in Xend tokens as rewards on their savings based on the amount saved and the lock-up period.

Essentially, the longer your savings plan, the more interest you can earn with Xend Finance.

The Xend tokens earned or purchased on the Xend platform could also be staked directly on different plans to earn up to 100% ROI per annum.

Lots of incentives, eh?

Is Xend Finance Legit or Scam?

Xend Finance seems like a legit company. The company’s antecedent shows visible progression in the last few years.

The company is an alumni of the Google Launchpad Africa Accelerator and the Binance Incubation Programme, which helped the company raise a startup funding in excess of $2m.

In the same vein, Xend Finance is in sync with the Binance technology ecosystem, with its DeFi products built on the Binance Smart Chain (BSC).

Hence, why BUSD is the stablecoin of choice on Xend Finance for staking its fund pool.

What I Like About Xend Finance

I like the fact that Xend Finance is helping a lot of millennials access the opportunities of decentralized finance, without a lot of the jargon that comes with it.

You don’t need to know much about crypto or the Blockchain, and you don’t even have to take unnecessary risks. Just save your money and get a fixed return.

What I Hate About Xend Finance

There are not many things to hate about Xend Finance, due to its impeccable and focused product offerings.

However, if I choose to be picky, I’d say there needs to be more variety of stablecoin or crypto choices for users to hold their savings in.

But I guess Xend Finance is already working on this via their newly-launched Xend Cross-Chain High Yield Aggregator.

Can You Lose Money With Xend Finance?

It looks unlikely.

There could be a loophole somewhere, but as far as I know, Xend Finance products are low-risk and a good place to start hedging your money against any devaluation.

As long as you keep the bulk of your savings in BUSD, you should be safe.

Should You Invest in Xend Finance?

Like I said, it’s a good place to start.

The company has a good reputation, a strong backing, and an unrelenting focus in creating access to Decentralized Finance, especially in Africa.

So, why not?

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