ACCESS Newswire
25 Feb 2021, 21:31 GMT+10
DUBAI, UAE / ACCESSWIRE / February 25, 2021 / Cryptocurrency exchange BTSE has introduced an Earn feature that enables users to generate yield from their digital assets without being exposed to any volatility.
By giving traders an opportunity to earn returns on their idle assets, BTSE has expanded its ecosystem to cater to savers as well as traders. Both flexible and fixed-term deposits are available for crypto-assets such as Bitcoin and Ethereum, as well as popular stablecoins with varying interest rates. BTSE is expected to release a variety of additional currencies in the near future.
The flexible option allows users to unstake whenever they wish, while locked term deposits require tokens to be staked for an extended period of time but provide a higher APY. No minimum deposit is required, and there are zero fees on deposits.
In phase one, compatible cryptocurrencies will include USD-pegged stablecoins Tether (USDT), USD Coin (USDC), and True USD (TUSD), as well as Bitcoin (BTC) and Ethereum (ETH). Once the time period has been determined by the user, they will start to earn interest with BTSE.
To date, 70% of people on BTSE are choosing stablecoins because of the higher yield and more safety against volatility. This is compared to 30% of people who are receiving yield on Bitcoin.
As time goes on, the BTSE team will bring additional functionalities to the table. The second phase of this launch will include lending and borrowing capabilities to match the spirit and momentum of the DeFi trend. BTSE would like to give growth to its community with Earn as well as lending.
Jonathan Leong, co-founder and CEO of BTSE, said: 'Cryptocurrency holders like nothing more than earning yield on assets that are otherwise gathering dust in their digital wallets. BTSE's earn feature is an important milestone in our transformation into a comprehensive digital bank at the juxtaposition of crypto and fiat.'
BTSE recognizes the growth of the DeFi space and sees a shift towards lending and borrowing in addition to Earn.
Earn features have become extremely popular elements of several top cryptocurrency platforms, providing a means by which asset-holders can earn passive income from their crypto portfolio. Interest rates are generally far superior to those offered by traditional financial institutions.
About BTSE
Founded in 2018 and powered by a custom built from the ground up matching engine, BTSE brings institutional-grade trading technology to the world of cryptocurrency. The platform acts as a bridge between the existing financial system and the digital money of tomorrow. BTSE is capable of handling over a million order requests per seconds and stores 99.9% of customer funds in cold storage. Built by traders for traders, BTSE Exchange offers a suite of financial services which extend the capabilities of digital assets including asset management, exchange, OTC, lending, debit card, white labeling, and defi.
Learn more: https://www.btse.com/
Contact information:
Hai Ho
Senior Marketing Specialist
[email protected]
SOURCE: BTSE
Get a daily dose of Hawaii Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hawaii Telegraph.
More InformationHONOLULU, Hawaii: A man from Oregon, Oliver Widger, has arrived in Hawaii after sailing across the ocean with his cat, Phoenix. He...
BUENOS AIRES, Argentina: The Archbishop of Buenos Aires, Jorge García Cuerva, used a major religious event over the weekend to criticize...
CIUDAD JUAREZ, Mexico: In a first-of-its-kind judicial election in Mexico, more than 5,000 candidates are vying for over 840 federal...
ZERMATT, Switzerland: Five skiers were found dead on a mountain in Switzerland near the popular ski resort of Zermatt, officials said...
TORONTO, Canada - Tens of thousands of people from across Canada have marched in support of Israel in a massive turnout in Toronto....
BOSTON, Massachusetts: U.S. President Donald Trump's administration has taken away Harvard University's right to enroll international...
HANOI, Vietnam: Amid shifting global trade dynamics and growing concerns over U.S. tariffs, France and Vietnam have signed more than...
NEW YORK, New York - U.S. stocks were weaker Wednesday, following Tuesday's heady gains when the Dow Jones jumped 741 points. Bond...
SAO PAULO, Brazil: Amid a surge in electric vehicle (EV) adoption and growing competition in Brazil, Chinese automaker GAC has officially...
CHICAGO, Illinois: McDonald's is closing its experimental beverage spinoff, CosMc's, less than two years after launching the standalone...
BEIJING, China: China's Lenovo reported a steep 64 percent drop in fourth-quarter profit, falling significantly short of analyst expectations...
NEW YORK, New York - Strong economic data jump-started U.S. stocks and the dollar Tuesday, a welcome reprieve after weeks of pressure...