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Apps and Softwares

Savl Review 2021: Is Savl App Legit Or Scam?

This Savl Review is meant to show you want the Savl App is all about.

Managing one’s involvement in the cryptocurrency space can very easily get confusing, especially if using multiple cryptoassets and engaging with different platforms to buy and sell goods and services on the market.

Keeping track of separate wallets and using them for specific purposes can be hard, especially because for security purposes private keys can’t be stored online or in an easy-to-use document that’s easily accessible on a mobile device or desktop computer.

The decentralization in the cryptocurrency space makes it somewhat hard to manage our activities in it, which could throw off newcomers to the space and increase the amount of funds being lost. A solution to that problem was developed by the team behind Savl, a one-stop peer-to-peer cryptocurrency ecosystem.

What Is The Savl App About?

Savl is a cryptocurrency app that creates its own ecosystem through several features, including a multicryptocurrency wallets that supports most top cryptoassets and over 700 ERC-20 tokens. With Savl, you can store your Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and hundreds of tokens in a single wallet.

On top of that, it’s a peer-to-peer platform which means it’s possible to buy and sell crypto from other Savl users, without having to pay a commission as the transactions are handled within the Savl ecosystem. When transferring funds, users only have to pay for transactions fees associated with the blockchain they are moving the funds on.

The app also includes a messenger platform with end-to-end encryption that lets like-minded cryptocurrency users discuss current events, transactions, help each other, and more. To make current events easier to discuss, Savl includes a news aggregator available in both English and Russian.

Savl also features an interactive cryptocurrency chart, customizable to show cryptoasset prices in several fiat currencies, as well as a service letting users pay for goods and services with cryptocurrency.

In short, on the Savl App you will find the following features:

  • Multicurrency crypto wallet supporting BTC, ETH, BCH, XRP, LTC, and hundreds of ERC-20 tokens
  • Peer -to-Peer cryptocurrency trading platform
  • Messenger with end-to-end encryption
  • News aggregator
  • Interactive charts
  • Merchant solutions

It’s worth pointing out that on Savl’s peer-to-peer market, ads to buy and sell cryptoassets are posted by other users and as such prices may vary, just like the experience you will have buying from different users. There is a rating system in place to reward high-quality services.

When buying crypto, Savl allows for traders to use both crypto and fiat currencies such as USD, EUR, and GBP. Users can select any preferred payment method ranging from PayPal to national bank transfer.

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The Savl app emphasizes on social trading by allowing users to engage in private OTC trades. On Savl, users can add each other as Partners  ( a partner is similar to a friend on Facebook) based on their prior trading experience.Traders have an additional way to interact with each other, no need to browse for public ads. Private chats can help users to avoid time delays, negotiate convenient terms “on the go” as well as discuss business matters.

When using the platform you have access and control over your private keys. These are stored encrypted on your device and as such Savl does not have access to them. You can backup your wallet using a twelve-word phrase.

Continue reading the Savl Review to find out more about it.

Topping Up Your Savl Wallet

On Savl, you have access to two different wallets: Private and Market. Your Private wallet works like any other cryptoasset wallet, which can send and receive funds via the blockchain and using it each transaction incurs a fee associated with that blockchain.

Topping up your Private wallet can be done so by transferring crypto to the address. After installing the Savl app, available on both Google’s Play Store and Apple’s App Store, tap on the “Receive” button and select the cryptocurrency you wish to receive on the wallet.

You can choose to copy your wallet address and share it with the sender, or to show the sender a QR code they scan that will copy the wallet’s address to their device.

It’s also possible to replenish the Private Wallet by buying cryptocurrency from Savl’s partners in the “Services” section, which includes fiat currency payment options.

You can add funds to the Market wallet by receiving transactions from other Savl users, as this wallet is not yet available to receive directly from other addresses on the blockchain. With the upcoming Savl 2.0 update, you will also be able to directly receive funds to the wallet. You can also top it up by buying crypto in the Market section on Savl’s ecosystem.

Savl Referral System

Reposts are a special type of the Savl referral program. Any Savl user can share a link to an ad for purchasing or selling cryptocurrency and receive a reward for each successful trade, and the buyer won’t pay any Savl’s fee when trading with this link. You don’t have to be a Savl user to read the terms of the reposted trade. When using a referral link, you will be directed to a special web page containing all the key details of the trade, such as the currency pair, exchange rate, information about the seller and your profit in the trade.

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In order to make a repost, you need to go to Savl Market and find an ad with the ‘Repost %’ button. This label means that the seller who posted the ad is willing to share the commission from the trade with you, to make more trades. By clicking on the ‘Repost %’ button, you can get acquainted with the details of the repost procedure and all the conditions, then you can get your unique link-code and send it to your friends, acquaintances or just people who may be interested in purchasing or selling cryptocurrency. You receive a reward for each successful trade by such a link-code.

The buyer who trades by using such link won’t pay any Savl’s fee for this particular trade, and the one who shares this link will receive 0.25% of the trade amount after it is completed.

If you share link-code to your own ad with another Savl user and the trade is completed successfully, you will save the portion that this Savl user would have received if they had used the ‘Repost’ function.

Included Fees

Savl has several types of operations for which fee is usually charged.

• Sending from a Private wallet – the fee charged is dynamic. It depends primarily on the cryptocurrency and uses a formula that takes into account the average mining time of the last blocks, the number of transactions in the last blocks, the network load and many other parameters.

Important: for any transaction within the Private Wallet, only the network fee of the blockchain in which you send is charged. Savl commission is 0.

• Sending from Market wallet – less than 0.5 USD / 0.4 EUR.

• Your ad trade (another Savl user makes a purchase, sale or exchange on the ad you posted) – 0.5% of the trade amount.

• Trade on someone else’s ad (you buy, sell or exchange on ad posted by another Savl user) – 0.25% of the trade amount.

Savl Wallet App Download

Download on the App Store

Download on Google Playstore

Download Locally

How To Buy Crypto On Savl App

1) Go to the Services tab.

2) Click on the Buy with debit/credit card.

3) Enter the amount you want to buy (for user convenience, this can be done both in cryptocurrency and fiat) and click Continue.

4) Follow any further in-app instructions.

5) After your order is paid, its status can be tracked via Orders menu. You can navigate there by clicking on the “clock” icon in the upper right-hand corner while you are on Buy with debit/credit card screen.

Important: first purchases may take some time due to additional checks on the Moonpay provider side.

How To Create Ad On Savl App

1) Go to the Market tab or tap on the Buy / Sell button on the main screen.

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2) Tap on the Create + button in the upper right-hand corner.

3) In the Create ad menu, choose the currency or cryptocurrency that you would like to buy or sell.

4) Enter the desired amount of the selected currency or cryptocurrency.

5) Select an ad category.

Ads in Savl can be categorized as either Dynamic or Fixed ads.

Dynamic ads are automatically adjusted to the current exchange rate of the cryptocurrency of your choice with the fiat currency of your choice, thus your sale and purchase will always be made according to the current market rate.

When choosing a Fixed ad, indicate the fiat currency and how much of that currency you would like to receive per unit of cryptocurrency.

When choosing a Dynamic ad, you can also set a margin, or percentage that will be added to the market rate of the cryptocurrency being bought or sold.

Tap Continue once you have selected all the necessary options.

6) Set limits for subsequent trades. You can limit minimum and maximum trade amounts for your ads.

7) You can also set your own time limits for each trade (90 minutes is the default limit) and adjust your ad’s working time (i.e. the times during which you conduct trades, by default, set to 12:00 A.M.–11:59 P.M., or 24 hours per day).

8) Choose to trade only with verified Savl users by sliding the toggle button.

Tap Continue after filling in all the mandatory fields.

9) Select a country. (This is important because available payment methods vary by country. In addition, it will be easier for potential buyers to find your ad)

10) Choose a payment method (Savl allows a maximum of seven different payment methods at any given time).

11) Specify the conditions and write the instructions for your ad. (This is important because potential buyers will not be aware of your trade conditions without these instructions.)

Tap on the Continue button once you are finished.

12) You can review your ad’s conditions on the confirmation screen. If you would like to change something, you can go back and make the necessary adjustments at any time.

Tap Confirm once all the conditions have been filled in correctly. Your ad will appear on the Buy or Sell list momentarily.

Savl Review (Is Savl Legit)

This concludes my savl review, the ‘social network app for digital asset owners’ is currently legit and no scam operations have been associated with it so far.

It also has 4.2 review on google play store (based on 331 reviews) .

If you have anything else contrary to this savl review, please signify in the comment section.

Oladimeji Abubakar
Hi, I'm Oladimeji Abubakar, a young Nigerian blogger and writer. I've special interest in making money online just like many other people and this is why I chose the review niche where I'd get to show people the websites to join and the ones not to. I hope my reviews helps😀.

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