Automate your crypto investing in under 5 minutes, then brag about it to your friends. Collect the spare change from everyday purchases on your most-used cards and automatically invest it in Bitcoin.
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love the UI. Could you help explain why the current savings rate is .68%? I thought the benefit here was to have a savings rate that was higher than what you can get at a typical savings account. Ally Bank is getting around 1.4%
@joe_whale Hey Joel, thanks for the great question!
Ally Bank works by issuing a fixed term savings product where you get a rate of 1.4%. You have to keep your asset there for a year, without any ability to withdraw.
With Donut Savings, we convert your dollars to stablecoins and supply them to a global lending pool at Compound. By supplying your stablecoins to Compound, we're able to offer you a real-time rate that's paid every 15 seconds. While the interest rate is currently on the lower side, it tends to fluctuate favorably (last week was over 6%) and you can withdraw anytime.
We wrote a blog article about Donut Savings here where you can learn a little about how it works 👉 https://bit.ly/2YCamfr
Hey Product Hunt,
I speak for the whole team when I say that we’re super excited to bring Donut to Product Hunt. As a group of product nerds, we're proud to share what we’ve been building over the last year.
From day one, our goal with Donut was to create an investment app worth using. Our team believes that cryptocurrencies and DeFi are essential to our financial future and that everyone, regardless of crypto savvy, should have access to these asset classes. Some of the features we're most proud of include:
- Collect: round-up spare change from card purchases and automatically invest in Bitcoin
- Schedule: an easy, customizable tool to set recurring investments
- Donut Savings: earn real-time variable interest and grow your savings (leveraging Compound)
- Quick Buy: make a one off investment using a Debit card
Donut is currently available for iOS on the App Store in the US (excl. NY, WI, NJ and PA) and we hope you'll give it a try.
A big thank you to everyone who has tested and provided feedback on Donut. We’ve met many of you in person or more recently on Zoom and it’s been great to build Donut with you!
Let me know your thoughts and questions (or just say hi!) in the comments below. Neel and I will responding all day and look forward to hearing your thoughts on crypto and the future of investing.
Thanks,
Dan
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@dan__spooner Damn, I skipped a few days of ProductHunt and missed the promo by a day 😥 The savings product looks great though, so still going to try it out!
@iamramsey hey Isaac! Haha! Let me know how you get on and if you have any feedback we can bake into our future versions :)
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this is such an amazing solution. really love it. Looking forward to seeing even more features in the future!!
10/10 on Product functionalities
10/10 on User experience
10/10 for Market need
10/10 on Transparency
10/10 on Customer support
10/10 on Insights
Writing reviews is not something I do a lot but I enjoy this product too much to not write a quick one.
I have been using Donut for a month now. Some minor glitches were present in the beginning but quickly fixed by the team.
I would highly recommend the app to anyone else that wants to diversify their assets with very little work required. Just set, forget and start saving Bitcoin.
The saving goes extra fast with roundups which reminds me of Acorns.
Personally I purchase every Monday (historically the cheapest day to purchase bitcoin).
5/5 rating for me!
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