Cryptocurrency: Luno Launches Interest-Earning Bitcoin Wallet
If you a cryptocurrency trader or often use it for personal business, you would have noticed recent rise in the value of bitcoin, and this is the best time to invest by buying more BTC and store in your various wallets.
Well, with that said, Luno has announced a bitcoin savers wallet that allows you to earn interest on your stored BTC. The product is said to bring bitcoin savers up to 4% in interest per year, with no fixed terms.
Luno, which is owned by CoinDesk’s parent company Digital Currency Group (DCG) – said users can withdraw their bitcoin from the savings wallet into their normal wallet at any time.
Interest is calculated on the first of every month.
The firm’s CEO and co-founder, Marcus Swanepoel, said in an announcement that the wallet was launched after 95% of customers indicated they would like to earn interest on their holdings.
The interest rate offered is “much higher” than those currently offered by traditional savings schemes in regions such as Europe, he added.
The firm’s research found 54% of respondents earned zero interest on their cash savings internationally.
At this point, the best way to earn income from cryptocurrency is via holdings and this is what Luno is here to give you with gains.
