Digital wallets make it possible to monetize the funds in the account and, unlike a fixed term, to be able to use the money at all times but: which one pays more?
Inflation rose 7.8% in May and stood at 114.2% for the last 12 months. Given this, savers may ask themselves: Do I leave part of the funds in a virtual wallet that pays me profitability or do I set up a fixed term?
As a first measure we must know that digital wallets invest in money market funds. A Common Investment Fund of these characteristics is an instrument that invests daily and shows the interest it generated every day but, unlike traditional fixed terms, allows access to the availability of money at all times.
Let us now analyze how much each digital wallet pays. Ualá remunerates balances at 81.67% per year, which is equivalent to 6.80% per month. For his part, Personal Pay offers an annual rate of 80.7% (6.72% monthly). Mercado Libre has an annual rate of 80% (6.66% per month). AND NaranjaX has an annual interest rate of 78% (6.5% per month).
In the case of a traditional fixed term, the annual yield is 97% (8.08% per month) after the last rate hike by the Central Bank. With these values a fixed term is above inflationunlike the money markets, but the money remains immobilized until the end of the term.
May’s winning funds
In May, the mutual funds that obtained the most profitability were the Equity Funds. These ended May with increases of up to 13.8% but below the performance of April, which was above 20%. According to operators, the increase was justified by the “electoral trade” since the closing of the lists for the general elections is approaching.
“Common Investment Funds (FCIs) continue to gain ground within the financial market; and it is their versatility as an investment vehicle, the key characteristic that makes them attractive, to surf a volatile context like the current one. In fact, the rapid liquidity (immediately, or within 72 hours) and the diversification that they allow, are part of this flexibility valued today and that leads the industry (in a situation of “stocks”) to exceed more than $10 trillion of assets under management”, closed PPI.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
