Steemit's Savings serves an an extra layer of security introduced to the Steem Wallet during in Hardfork 0.14.0. Because all funds stored in "Savings" are subject to a 3-day withdrawal period, it give users a chance to "notice, recover, or cancel" a hacker's attempt to steal a user's the liquid STEEM or SBDs. That's basically the main point of Savings, so, you're not missing the point.
The only thing I would add is that aside from providing added security to an account, Savings also provide the Steem Economy some protection against speculative trading, the same way that converting liquid STEEM and SBDs into STEEM Power does. The only difference is that when assets are locked as STEEM Power, you are vested in the blockchain, so your assets are actually generating gains and adding to your voting power, whereas in Savings, the assets are literally just sitting there. They're safer, but they're just sitting there.
Hope this helps!
Yep! The main point of the "Savings" feature is to protect an accounts liquid STEEM & SBD in the event that the account is hacked, stolen or compromised.
Since funds inside 'Savings' are locked in a 72 hour period before any transactions involving that fund can be executed, it gives enough time for the original owner of the account to reverse any withdrawal in the event that the account is hacked or compromised.
It will also give one an ample time to execute Steemit's recovery account feature (assuming the account was created via Steemit's faucet sign-up) or Anon Steem's recovery feature.
It was suposed to gather intrest on it but that seems to have never happened. It now serves as a place to hold your funds in case your account is hacked. It takes 3 days for the funds to be transfered eanywhere do to steemit putting a hold on it. Much like how a power down takes 13 weeks getting funds out of savings takes 3 days.
it also functions as a storage that can provide interest benefits such as the APR. if you save SBD, you will be given interest of the price of $ 1 different from steem which will give interest at a price of fluctuation. about asset security, it's no different if your token is outside storage. maybe that's all I can answer. thank you so much :)
It will be your first line of defense from hackers.
It's an added feature that will allow a user to store his liquid steem or SBD which can be withdrawn after 3 days.
How will it put your tokens to safety? If in case that a hacker has accessed your account, it will take him 3 days to withdraw your tokens. So, hopefully, during that period, you find out what's happening on your account and quickly stop the withdrawal of the tokens.