Frequently Asked Questions

A Web3 wallet is a digital wallet used to access and store cryptocurrencies.  They also allow you to interact with Decentralised Finance protocols like Blüm Finance. These wallets allow you to take control of your assets through self–custody. This means no one can access your funds without your approval. Self–custody is very empowering but means you are fully responsible for the safe keeping of your wallet. 

The easiest way to create a wallet is to use your current social logins such as Google, Twitter, Facebook, and Discord.  You can also simply use your current email address and create a new password. For full details on creating a wallet and using Blüm Finance, check out  this short step-by-step instructional video.

A stake position is created when you select an amount of crypto to invest along with a duration to invest it for.  The stake position is then locked for the duration you select as it earns a set APR.  After the lock duration, you can then redeem your initial investment plus the amount earned during the stake period. For example, if you create a stake position with 1 Bitcoin for 360 days at 23.32% APR, your 1 Bitcoin would be locked for 360 days as it earns 23.32% APR.  After 360 days, you would then be able to redeem your initial 1 Bitcoin PLUS the 23.32% APR earned (approximately 0.2332 Bitcoin) for a total of ~1.2332 Bitcoin. Once you create a stake position you cannot redeem it before the end of the lock period unless you pay a 50% early redemption fee. For more information on staking read our Terms of Service.

With Blüm Finance, you can earn high yields on Bitcoin, Ethereum, Binance Coin, Polygon, and Avalanche.  We continue to expand our offerings and will have more tokens available soon! The longer the duration of your stake period, the more you will earn on your selected crypto. For the most current rates, visit our rates page.

Blüm Finance is powered by smart contracts on BOMB Chain, our custom-built blockchain. This provides full transparency into everything occurring within the app and with the funds being staked.  As a result, you need to approve your wallet to interact with the smart contract in order to create the stake position and earn high yields. Note that this is only required once per wallet per coin, so creating additional stake positions will not require approving again.

Blüm Finance is a decentralized finance (De-Fi) cryptocurrency staking service that operates on blockchain technology. We do everything we can to protect users but as with all blockchain-based applications Blüm Finance comes with certain risks that users should be aware of before using the service, including volatility of cryptocurrency prices, the risk of unidentified smart contract vulnerabilities, regulatory uncertainty, market liquidity and risks associated with generating rewards. Our Terms of Service provide lots of helpful and important information regarding these risks so please make sure to familiarise yourself with these before getting started.

The Free Stake Position is an introductory offer for new Blüm Finance users.  Simply provide your email address at this page and you will automatically receive a Free Stake Position of your choice into your wallet. You can select the amount and cryptocurrency of your Free Stake Position up to a $1,000 USD value. The Free Stake Position will appear in your wallet and begin earning yields immediately! As long as you meet the eligibility criteria within 90 days you’ll then be able to redeem your Free Stake Position at the end of its 180 day staking term.

You can earn up to $1,000 on your Free Stake Position and it will begin earning yields as soon as you create it.  Simply enter your email address, select the cryptocurrency you want, and chose your Free Stake Position amount.

In order to withdraw your Free Stake Position, you must create new stake positions 10 times the Free Stake Position amount in the same cryptocurrency you selected for, within 90 days. Your Free Stake Position is a 180 day fixed term stake which means  it benefits from earning rewards immediately. In the 90 days following creation, you need to create staking positions in the same asset 10 times the initial Free Stake Position value in order to redeem it at the end of the 180 day period. If you do not meet the eligibility criteria within 90 days of the Free Stake Position being created, you will not be entitled to claim any of the Free Stake Position or any rewards accrued on it. For example, if you chose a Free Stake Position of 0.1 ETH you would need create 1 ETH in stake positions within 90 days on the Blüm Finance app (the Free Stake Position does NOT count towards this). You will then be able to redeem your Free Stake Position 180 days after you created it. Please read our terms of service for further information.

You have 3 months from the creation of the Free Stake Position to make create eligible staking positions equivalent to 10 times the value of your Free Stake Position, otherwise the Free Stake Position will expire worthless. In order to redeem your Free Stake Position, you must create new stake positions 10 times the Free Stake Position amount in the currency you selected.

Free Stake Positions are delivered as a 180 day staking position. This means it will benefit from earning rewards with our great rates.