Digifox - Be Your Own Bank

Hey DEFI WORLD community,

imagine a world where you could really be your own bank. A world, in which nobody depends on big banks to make global transactions.

Today, we are far away from this state but we are getting closer every day.

Companies like Digifox will make it possible. Digifox is an all-in-one solution for your finances.

Thanks to Samantha, head of content creation at Digifox, for this amazing inside!

Also, don’t forget to follow Digifox on Twitter:

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When I joined Digifox, all I really knew about the company was their goal to be an all-in-one finance app for people around the globe. This hadn’t been done before. As someone who only knew a little about personal finance, and even less about crypto, this certainly intrigued me enough to want to hop on board the tiny start-up, but it also didn’t mean a whole lot to me at first. Little did I know, this would be solving a problem I honestly wasn’t even fully aware I had, or at the very least didn’t believe could be fixed.

How many crypto or finance apps do you have on your phone? How many more do you have on your desktop?

One of the most frustrating aspects of the crypto world (and the financial industry as a whole) is the need for multiple accounts on multiple websites or apps. This has created a barrier to entry for many users when it comes to the awesome benefits different companies provide. How many times have you seen an intriguing service, but ultimately decided against using it purely because creating a new account and providing the information typically required for a finance-focused service was fairly time-intensive and tedious?

People take the traditional banking system at face value and don’t really consider there might be a better way. The flaws and shortcomings of your bank? Inevitable. Expected. Non-negotiable. Right?

Not quite.

What if you could become your own bank?

That’s another one of Digifox’s taglines that I didn’t fully appreciate at first. Become your own bank. Take control of your financial future. Finance for everyone, around the globe.

So how do we work to accomplish this?

The Functionality of this Vision:

At Digifox, our main goal is to put the power back into the hands of the individual.

Banks pay out 0.06% interest on your savings account and pocket the rest of the profit. Digifox partners with companies that let you earn +10% interest on your crypto by paying customers back 80% of the profits.

Sending money to others is either pricy and fast, or cheap and slow. Digifox keeps fees as low as possible (though network fees can be unpredictable, they don’t shift based on how much is being sent) while still taking advantage of crypto’s ability to be sent across the globe in minutes.

Some people only want access to the ability to earn interest on their crypto, something which was once impossible. Others want to be able to trade and swap coins. To accommodate these two groups, Digifox has two separate tiers so users can choose exactly what is best for them.

We’re also aware volatile crypto may not necessarily be everyone’s primary interest, so users can maintain the value of their dollar through USDC and still earn a high rate of interest on their savings.

Digifox is constantly working to roll out new features to become the all-in-one finance app and incorporating the best of DeFi.

The People Behind this Vision:

The team behind Digifox has noticed a few failures in the crypto and banking space. For one thing, customer support of any kind is nearly non-existent in the crypto world. Banks make you go through a complex tree of robots and automated messages before you can get to a real person (if you manage to get to one at all). Of course this might vary from bank to bank, but the general rule is there is a lack of human touch.

Digifox changes this with a focus on customer support. Almost everyone on the team, if not handling customer tickets directly, are helping to solve the problem in the backend. This includes our CEO, Nicholas Merten, who dedicates some of his time every day to talking to customers directly and solving their problems.

Support is only one aspect of this human touch, however.

We want to be constantly giving back and supporting our community by encouraging healthy financial habits and rewarding our most active users. Our marketing strategy revolves around challenges encouraging users to deposit funds into our interest-earning partner, Celsius, or to refer friends to Digifox to practice those same habits.

Our community tab is a visual representation of this goal. It’s a place to engage with whatever challenges we might be currently running, as well as see current standings and interact with other users, however minimally. As this feature continues to evolve and grow, it will also enable us to directly share new, educational content with our community and allow them to learn more about both crypto and finances in general.

Not everyone is familiar with crypto, or even with personal finance. That’s why we’re building a reservoir of informative content, both blog posts and videos, to give our community the resources they need to make the most of their finances, whether through crypto or not.

Engaging with our community outside of the app is also a huge part of what we do. Webinars, YouTube videos, and social media allow us to directly communicate with our users without necessarily having to focus on problem-solving or troubleshooting.

It’s thrilling to be a part of a start-up so focused on building a community around the globe and making the same services available to all. Though crypto is certainly a huge aspect of the app, Digifox doesn’t necessarily try to be too niche by only appealing to the crypto-savvy. Finance for all includes finance for anyone with a personal smartphone, in any country, especially those suffering from an over-inflated national currency.

Community-focused, support-driven, finance for all. That’s what the crypto and finance worlds need, and that’s exactly what Digifox is here to provide.

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All information presented above is for educational purposes only and should not be taken as investment advice.