German neobank Bitwala’s newly-launched Bitcoin interest account is enabling over 80,000 of its users to earn up to 4.3 percent interest by simply HOLDing the crypto in the bank account.
Uncertain times call for certainty in investment plans. Today, Bitcoin is primarily emerging as one of the safest bets against economic slowdown and the burn out of fiat currency caused by frantic attempts to revive the economy amid the coronavirus outbreak.
People are turning to cryptocurrencies now more than ever as more and more investors seek ways to readjust their investment portfolio through diversified revenue streams.
Earn interest on Bitcoin with Bitwala’s Bitcoin interest account
Introducing a new way to optimize returns on the cryptocurrency investment, Bitwala’s Bitcoin interest account is a grand step toward generating passive income. With no lockout period, a guaranteed weekly return on a minimum investment of Bitcoin worth 10 euros, and an instant conversion service from crypto to fiat, Bitwala manages to pack a punch for investors who would rather hold on to their assets than sell them.
Although there are other crypto lending service providers such as BlockFi which offer similar services with a relatively higher interest rate, Bitwala wins the trust of many Bitcoin users with its standardized approach and its widespread presence in over 30 European countries.
Bitwala among the very few licensed neobanks
It is important to note here that most neobanks, who have attempted to seal the gap between crypto and fiat by offering secure exchange between the two in the past, have so far been unable to acquire appropriate licenses from central bank authorities, which makes a strong case for Bitwala as the blockchain bank has already earned a grant from Germany’s SolarisBank AG.
As Bitwala CEO, Ben Jones, states in the announcement, Bitcoin interest is on the rise given the current economic crisis. We are merely offering a means for Bitcoin owners to make the most of the market opportunities and leverage Bitcoin holdings wherever they are.