Mexican Crypto Exchange Bitso Launches Stable Yield Program – Bitcoin News

Mexico-based cryptocurrency exchange Bitso is expanding its crypto investment options. The company announced that it will now allow customers to earn money by holding bitcoin or stablecoins in their wallets. The program, called Bitso+, will provide different benefits based on the amount users deposit, and is designed to help customers address inflation in Latin America.

Bitso Launches Bitcoin and Stablecoin Earnings Program

Bitso, one of the largest cryptocurrencies unicorn In Latin America, yes expand Provide its services by introducing new revenue services to customers. A new program called Bitso+ will offer users different earning plans based on the amount of cryptocurrency and exchange wallets.

Previously open to many users, the program is now open to all users, offering up to 6% yield on Bitcoin deposits and up to 15% yield on stablecoins. However, it depends on the number of users in the exchange wallet. For example, for Bitcoin, a 6% yield applies to the top 0.4 bitcoinThen 3.5% applies to bitcoin outside that range. Likewise, if the stablecoin is invested above $1,000, the yield will drop to 10%, while from $20,000 and above, a 7% yield will apply.

David Álvarez of Bitso+ commented on the importance of dollar-pegged stablecoins in the system for early adopters. Alvarez said:

It would be a dollar, which is an easier way to understand the benefits of cryptocurrencies.

Target customers who understand inflation

Users and holders of cryptocurrencies are now looking for more and more options to put their funds to work by earning yields, while still being able to use those funds for withdrawals. This is especially interesting for countries facing high inflation in Latin America, such as Argentina and Venezuela. This is the target audience for Bitso to use this new feature. In response, Bitso CEO and co-founder Daniel Voguel said:

Inflation continues to rise around the world, especially in Latin America, and with this new feature, we offer a new way to increase your wealth simply by keeping your assets in your Bitso wallet.

The exchange informed that other cryptocurrencies may be added to the Bitso+ program in the future.

What do you think of Bitso’s new stable income program for crypto deposits? Let us know in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist in Venezuela. He describes himself being late to the game, entering the crypto space when prices rose in December 2017. With a computer engineering background, living in Venezuela, and being affected by the cryptocurrency craze on a social level, he offers a different perspective on the success of cryptocurrencies and how it can help the unbanked and underserved.

Image Source: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or an invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin Network Does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned herein.

Source link