Cryptocurrency exchange Luno, previously backed by Naspers but now owned by New York-based digital asset investment firm Digital Currency Group, has launched a savings wallet, offering clients a interest of up to 4% / year on their bitcoin holdings
« The offer allows Luno customers with Bitcoin to earn passive income on their balance with little effort and no penalties, » the company said on Monday
« Due to the nature of bitcoin, we are able to offer a much higher interest rate than traditional savings accounts in some regions (eg Europe) and comparable to interest offers flexible in emerging markets such as South Africa » company added
A high percentage of South Africans who own cryptocurrency do so for speculative investment, with the majority holding their bitcoin for the long term, according to Luno
« Less than 5% of South African Luno customers plan to sell their bitcoin in the next six months In fact, most plan to buy more, so the savings wallet means they can earn interests by simply doing what they plan to do with their bitcoin, ”said Marius Reitz, CEO of Luno Africa, in a statement
There is no fixed term and no administration fee, with interest paid monthly, said Luno- (c) 2020 NewsCentral Media
Bitcoin, Saving, Luno, Cryptocurrency Exchange, Digital Currency Group
World News – US – Luno Launches Savings Wallet, Offering Interest on Bitcoin – TechCentral
SOURCE: https://www.w24news.com