Investment review: Crypto Savings & Investment App

Pillow is a cryptocurrency platform that lets you save and invest in stable coins. The app lets you deposit in your local fiat currency and leverages decentralized finance or DeFi technology where a team of cryptocurrency experts help invest your money in stable coins to earn you impressive returns.

If you are concerned about inflation damaging your savings, crypto investment in stablecoins can help hedge against inflation as they are pegged against the US dollar, and you can also earn up to 15% interest on your investment. 10 million Nigerian naira in 2015 was about $55,600, which was quite impressive for an average Nigerian. That same amount left in a bank to accrue compound interest at the prevailing rate of 1.5% will be worth about 11,098,449 naira today. This might sound good except that 11 million naira is only worth about $15,400 because the naira has been steadily loosing value against the dollar.

If such devaluation of your local fiat currency concerns you, Pillow offers a way to hold US dollar assets as well as earn interest on them. This is even more desirable considering the fact that in some countries like Nigeria, hoarding US dollars in a domiciliary account is technically illegal.

How does Pillow work?

Pillow is a digital asset management app that helps users get the best returns on their digital assets with none of the associated hassles. To start off, users can deposit their local fiat currency or transfer cryptocurrency from their existing crypto wallet.

Currently, users can earn up to 10.42% returns on their stable-coins, 6.02% returns on BTC and 6.03% returns on ETH.

DISCLAIMER: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Interest Rates are subject to change anytime as per the market conditions. Exercise caution before investing.

Is a legit platform?

Yes Pillow is a legit crypto currency management platform. Pillow is incorporated in Singapore and with a tech office in Bangalore, India. Some basic knowledge of crypto is needed, how they work and how they are traded should be researched before investing.

What other users are saying about Pillow.Fund

These are some of the challenges and reviews written by Android users on the Google play store;

Saurabh Singh Rajput wrote, “It’s a one way journey. You can only deposit, no way to withdraw. Just by writing that everything is working normally, doesn’t make things normal until our definitions are different. I have screenshot of the conversation with your support team & they haven’t replied to me on the question of withdrawal since 20 days now.”

vasanth kumar wrote, “Unable to withdraw since one and a half month. The prices have reached top and plummeted down. Still unable to make withdrawal. Would not recommend. And customer service is a joke, will only reply promptly if it’s resolvable otherwise no reply. But interest rates are great. Which is of no use if you can’t withdraw.”

anilkumar reddy wrote, “I made a transfer from my pillow wallet to another pillow wallet and funds got debited from my account and still it’s not credited to recipient and it’s not reversed to me also. I have sent a mail to the team several times but there is no use of that . This is the biggest fraudulent app pls don’t invest in this pillow app. Bcoz I lost nearly 100$ in this app. These guys are not responding to mails also.”

Bernard Chim wrote, “I’ve had the app for 3 months now and it works great. At first I had some depositing issues but that doesn’t seem to be a problem anymore. I understand people putting bad reviews after contacting support and not getting their money temporarily. It works great for me though, and the interest rates are extremely interesting!”

What can improve?

Most of the experiences of users of the app seems to be more negative than positive, but the app is only a few months old and has about 10k downloads on the play store. Hopefully, there will be improvements as the owners study user data and grievances, here are the top challenges that can be improved.

  • Poor customer service, most users complain that their complaints are unanswered as customer service does not respond to emails on time.
  • Withdrawal process is very complicated, crypto transaction is usually slower than usual fiat transaction, but transactions on Pillow can be extremely slow that makes some users wonder if their monies is trapped for good.

How to withdraw from Pillow

Even though you can deposit your local fiat currency on Pillow, only Indian registered users can withdraw directly to their bank accounts. Users in other locations can only make withdrawal to a crypto wallet. You can withdraw your cryptos to a wallet like Binance and exchange it for your local fiat currency on their Peer-to-Peer market.

Here are the two options available for withdrawal on Pillow;

You can withdraw your funds to your wallet of choice:

Crypto withdrawal:

  • You can withdraw your crypto into a wallet or exchange of your choice
  • Enter the wallet address where you want to withdraw funds to and submit your withdrawal request
  • The withdrawal request is processed and funds will be credited to the entered wallet address

Fiat Withdrawal (INR Only):

  • You can swap your USDT to INR and withdraw it to your registered bank account from the Pillow app
  • Go inside the USDx Case and click on Withdraw
  • Choose the amount you want to withdraw in INR
  • Enter the OTP received on your registered email address
  • Your withdrawal should be on its way and credited to your registered bank account within 2 hours.


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