The rapid and consistent depreciation of the Naira has made investment opportunities that leverage the dollar more attractive to Nigerians. Unfortunately, investing and earning interest in dollars can be complicated and confusing, particularly for people who are inexperienced.
This is why, it has become important to choose a notable investment company that can tap into opportunities that earn returns in dollars. One such investment company that is available to Nigerians is Pillow Fund.
Whether you are hoping to grow your savings exponentially or protect your crypto assets, Pillow Fund promises to help you accomplish your objectives.
Overview Of Pillow Fund
Pillow Fund is a fintech platform that offers digital asset management services to help its users earn good returns on all their assets seamlessly. Essentially, this platform focuses on providing opportunities for its users to receive the best returns on their cryptocurrencies.
Established in 2021 by Arindam Roy, Kartik Mishra, and Rajath kM, Pillow Fund is a platform that gives its users access to save their digital assets in USD-backed cryptocurrencies all from the comfort of their homes. The platform’s goal is to liberate Nigeria and Africa at large from poverty and a depreciating economy.
Pillow fund currently has more than 100, 000 users across different countries in the world. Here in Nigeria, they strive to level the ground for all Nigerians to understand the need to leverage digital coins.
Is Pillow Fund Legit?
The Pillow Fund platform has been duly licensed by Nigeriaâs Securities and Exchange Commission (SEC) to operate as an investment platform. So we can say that the company is authorized by the Nigerian Government.
If you are wondering whether it is safe to use or not, letâs glance through some of its positive and negative reviews on Google PlayStore.
Here are some positive reviews on Google PlayStore about the app:
– Olafuyi Enoch
âPillow is really great, but I would have loved it if it had a fixed account option. This will further help people to lock and save their deposit. It will create good saving habitsâ
– OAKICT International
âI really enjoyed the time we spent together Pillow before discontinuing your services. I came across this on ads, gave it a trial and it blew my mind.
Best of luckâ.
– Bernard Chim
âI’ve had the app for 3 months now and it works great. At first, I had some depositing issues but that doesn’t seem to be a problem anymore. I understand people putting bad reviews after contacting support and not getting their money temporarily. It works great for me though, and the interest rates are extremely interesting!â
– Rose Kratzer
âI have been pleased with this app for a few months now. It is easy to use and clear. Nice rates and no lockup requirements excellent security choices Frequent app updates, but from my experience, logging in has never been a problem. All withdrawals are free, and they happen quicklyâ.
However, we could also find some negative reviews. Here are some negative reviews on Google PlayStore about the app:
– Mbuotidem
âSupport is totally irresponsive. I deposited some cash to the specified account to add to my savings but the money was not credited. I sent them multiple in-app chat messages but they have not replied. If this persists, I’m going to liquify my assets and discontinue my usage.â
– Confidence Nwankwo
âNot so good. I just started using the app and I made a deposit. I have been debited from my bank but haven’t been credited on pillow app. It was still confirming transfer till the account number expired. Please I would love an immediate response and reversal back.â
– Darlington Okorie
âI’ve been trying to sign up on the app for a while.
It simply does not sign up. It doesn’t even throw an error to tell me why my sign up does not work, I’m just clicking the buttons after putting in my details and nothing is happening.â
– Dr. Sruthi Sahadevan
âIt’s a dumb app. I have been trying to invest and make benefit out of Matic but now my cash is stuck and when i tried crypto transfer to a wallet even then I didn’t get my cash back. Bank transfer or transfer to INR is under maintenance since God knows how many months. Whenever you try to open the app, it seems to be getting upgraded. Please don’t waste your time and money on this. I downloaded it because I saw a reel by finance with Sharan but it seems to be a scam. Try wazirx or other apps.â
So is it safe to use the Pillow Fund app? From the positive and negative reviews provided above, you should be able to tell if the Pillow Fund app is suitable for you.
How Does Pillow Work?
We stated earlier that Pillow Fund is a digital asset management medium that enables its users to earn returns on their digital assets. From this, it is safe to say that Pillow Fund is a âSave, Invest, and Earn platformâ.
You earn reasonable interest when you deposit funds on this and invest with them. The best part is that users can earn up to a 14% interest rate per year on their investment deposits.
Now you may be wondering how Pillow Fund get their profit.
Essentially the platform makes returns by investing users’ funds into the most promising and prominent Defi protocols on blockchain networks. Currently, the platform has a devoted research team of experts and advisors assessing more than 500 Defi protocols across 10+ blockchains. This way, the platform can find out the best and most secure protocols to invest its users’ savings.
How to Invest Your Crypto with Pillow Fund
If you want to go into cryptocurrency investment, then you should invest in the Pillow Fund platform which promises you up to 14% interest per annum. To get started on this platform, you have to prepare your national documents and have an active email address. Once these are in place, follow the guide below to start your journey on Pillow:
- First, sign up on the Pillow Fund app with your email address. You can download the app on the Google Play Store or App Store.
- Next, complete your KYC.
- Thereafter, fund your wallet by making your first deposit. You can begin your investment journey by depositing some crypto into your Pillow wallet.
- You stand a chance to earn interest daily and up to 14% interest every year when you invest in this platform.
Note that the Pillow platform only accepts Ethereum, Bitcoin, and stablecoins. So if you want to invest, you can only deposit any of these tokens. You can buy any of these tokens from popular exchanges like Binance and invest them in Pillow to get more yield.
How To Withdraw Funds From Pillow Wallet To Your Wallet
Listed below are some steps to guide you to withdraw funds from your Pillow wallet to your regular bank account.
- First, select the case.
- Next, enter the address and amount of funds you would like to withdraw from Pillow. Make sure that the address you enter and the network of the funds are correct. If you input the wrong information, you may lose your funds permanently.
- Tap on “withdraw.”
- Lastly, check your email to verify the withdrawal with the OTP the platform sends to your registered email address.
What Products Does Pillow Fund Offer?
Basically, the Pillow Fund platform offers a wide range of products and assets that may interest you. Here are the notable products you are likely to enjoy:
1. Invest and Earn
Don’t let your crypto investment suffer inflation. You can deposit your Ethereum, Bitcoin, and stablecoins tokens on Pillow to receive a reward. Pillowâs investment products, called Pillow Cases, are divided into three categories. They include:
a. USDT/USDC Case
The USDT/USDC investment case in this platform allows you to deposit stablecoins and earn returns on your investment. This product promises an interest rate of 13.68% per annum.
b. Ethereum Case
The Ethereum investment case in this platform allows you to deposit ETH tokens and earn returns on your investment. This product promises an interest rate of 6.03% per annum.
c. Bitcoin Case
The Bitcoin investment case in this platform allows you to deposit BTC tokens and earn returns on your investment. This product promises an interest rate of 14% per annum.
2. Easy and Quick Registration
With only your national document and email address, you can get started on this platform and start investing. All of these can be done instantly on your smartphone with no tedious paperwork needed.
3. Savings that attract mouth-watering interest rates
Basically, Pillow fetches you the best possible interest rate of up to 14% on your dollar savings. With this platform, you can be rest assured that your funds are in safe hands.
4. Earn Daily
Pillow is currently the only investment app in Nigeria where you can gain daily interest for any of your investments. Therefore, you donât have to wait till the end of the month or year to get credited.
What are the Pros and Cons of Pillow Fund?
Listed below are some of the advantages and disadvantages of investing with Pillow Fund.
Pros of Pillow Fund
Here are some advantages of using this platform for investment:
a. User-friendly interface
One of the major benefits of the Pillow Fund platform is its seamless and user-friendly interface. Essentially, the platform is specially designed to be very easy to understand and navigate, which makes it accessible to both experienced crypto investors and people new to DeFi investing. Investors can easily browse the available protocols, look through their detailed information, and start investing with only a few clicks.
b. Offers users a wide range of investment products
Another amazing benefit of this platform is the wide range of investment options that users can access. Users can decide to invest in personal investment protocols or just go for a more diversified strategy by investing in portfolios of different protocols. This enables investors to design their investments according to their goals and risk tolerance.
c. User-friendly products
Pillow Fund also provides a wide variety of crypto educational resources, such as webinars and guides, to help users understand more about DeFi investing and how they can make the most out of the platform.
d. Grow your Bitcoin value with Pillow Fund
Since this platform is primarily a crypto investment platform, it is a good platform to help you grow the value of your Bitcoin without any hassle.
Lastly, there are lock-in periods or maturity dates on this platform. This makes it very flexible and effective if you need to withdraw for emergency reasons.
Pros of Pillow Fund
Here are some disadvantages of using this platform for investment:
a. Limited historical performance data available.
One problem is that the Pillow platform is relatively new. This means that there is little historical performance data available. Their chances of performing well arenât guaranteed
b. Crypto investment risk
Pillow Fund is primarily a blockchain-based platform, which implies that all investments are liable to the same risks just as any other blockchain-based platform. These risks can include a lack of investor protection, delays in funding, as well as regulatory changes. Basically, there is a risk of loss, especially if the underlying crypto assets you invest lose value.
Lastly, the interest rates on this platform are not guaranteed because it primarily has to do with cryptocurrencies. Unless you invest in stablecoins, you are at risk of losing your interest.
Final Thoughts
Overall, Pillow Fund is a very promising investment platform that offers various benefits for crypto investors. The platform’s user-friendly and easy-to-use interface, wide range of crypto investment options, and quality educational resources make it an outstanding choice for both new and experienced investors.
Also, its promise of offering 14% interest to investors every year has made it very attractive to potential investors. However, you must be aware of the possible drawbacks involved here, such as the limited investment historical performance data and blockchain risks. Once you weigh the benefits and risks, you should be able to tell if the platform is suitable for you.