NFT Collection The Superlative Secret Society Price, Stats, and Review
Uncovering the Trend: BEFE Coin’s Spectacular Rise to Meme Coin Prominence
Canada Bets Big On Crypto: 40% Of Institutions Now Invest
DOGE Price Prediction – Dogecoin Below $0.14 Could Spark Larger Degree Drop
Bitgert Coin’s Trending Triumph: A Closer Look at the Sensation
First Mover Americas: Bitcoin Holds Stable as ETF Outflows Increase
Ethereum ETFs: Time to revamp your ETH strategy before May?
Bitcoin-Linked Stablecoin Firm OpenDelta Raises $2.5M
'Asia's MicroStrategy' Metaplanet Buys ¥1 Billion Worth Bitcoin as Pledged
Bitcoin Gains Even While ETFs Sell
Crypto Analyst Says He’s Highly Bullish on Memecoins This Cycle – Here Are His Top Picks
Coinbase CLO Defends Ethereum Security Status Amid Regulatory Scrutiny
US senators cracking down on crypto use in child abuse trade
Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak
Mega Dice rakes in $500k in presale, aims to be Next Rollbit
China’s former CBDC chief is under government investigation
BlackRock’s Bitcoin ETF hits 0 inflows, but it shouldn’t deter you as…
Consensys, a Target for the SEC’s Assault on ETH, Is Fighting Back
EU Parliament Adopts Anti-Money Laundering Rules Package, Also Policing Crypto
XRP rises as AI altcoin edges closer to raising $4m at presale
Why Worldcoin is boosting token supply amid regulatory pressure
Ex-head of China’s CBDC reportedly under investigation
Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat
ARK Sells Last of Its ProShares Bitcoin Futures ETF Shares
Scammers leverage malicious ETH RPC nodes to target imToken wallet
Bitwala Launches Bitcoin Interest Account With up to 4.3% Annual Rate
Neobanking service provider Bitwala on Thursday introduced a new account that offers its 80,000 European customers passive bitcoin (BTC) income.
The Bitwala Interest Account allows users to earn up to 4.3% interest per annum for BTC held at the bank.
According to the Berlin-based company, account holders can buy bitcoin at Bitwala from as little as 30 euros ($32), hold it free of charge, and earn interest, which is paid out every Monday.
There are no lock-up periods, meaning that BTC holdings can be liquidated and withdrawn any time, it said.
The new account has been launched in cooperation with cryptocurrency lender Celsius Network, which lends out BTC held by Bitwala users to “trusted institutional partners.”
Celsius Network has been paying an average of 3.4% p.a. in bitcoin since November 2019, said the German bank.
Bitwala’s 4.3% rate is, however, less than half of what some decentralized finance platforms with similar interest-earning accounts offer.
Ben Jones, chief executive officer of Bitwala, described bitcoin as “the gold standard for the internet of value,” emphasizing that BTC’s recent third halving is a reminder that “state money (fiat) cannot be inflated eternally.” He stated:
At this time, more and more people trust in bitcoin. Bitwala is the everyday bridge to it. We are now partnering with Celsius Network, the world’s leading provider of crypto loans, so that our customers can leverage bitcoin holdings wherever they are.
Celsius Network CEO Alex Mashinsky commented: “We think combining a bitcoin account with a bank account is a winning proposition and the path to mass adoption.”
Founded in 2018, Bitwala has customers from across 32 countries in Europe. Its accounts are hosted by Berlin-based Solarisbank, which is supervised by the Federal Financial Supervisory Authority.
Numerous neobanks, including Babb in the U.K. and Crypterium in Estonia, are planning to or are in the process of applying for licenses amid regulatory disinterest that has kept them at bay for years.
What do you think about the Bitwala Interest Account? Let us know in the comments section below.
The post Bitwala Launches Bitcoin Interest Account With up to 4.3% Annual Rate appeared first on Bitcoin News.
