Bitso, a cryptocurrency exchange located in Mexico, is increasing its crypto investment choices. Customers will now be able to earn money simply by holding bitcoin or stablecoins in the company’s wallet. The Bitso+ scheme, which is aimed to help clients combat inflation in Latam, will give varied yields based on the amounts deposited by users.
Bitso, one of Latin America’s most well-known cryptocurrency companies, is expanding its service offerings by adding new yield options for consumers. Bitso+, a new initiative, will provide consumers various yield plans based on the cryptocurrency and the amount of cryptocurrencies in the exchange’s wallet.
This programme, which was previously only available to a select group of customers but is now open to everybody, pays up to 6% in bitcoin deposits and up to 15% in stablecoin deposits. This, however, is contingent on the quantity of money in the user’s exchange wallet. For bitcoin, for example, the 6 percent dividend applies to the first 0.4 BTC and 3.5 percent for BTC beyond that range. Similarly, if you spend more than $1,000 in stablecoins, the yield drops to 10%, and if you invest more than $20,000, the yield drops to 7%.
Bitso+’s David Álvarez spoke about the relevance of USD-pegged stablecoins in this system for early adopters. According to Álvarez
“It will be a dollar and it is an easier way to understand the benefits of cryptocurrencies.”
Users and holders of cryptocurrency are increasingly looking for ways to put their money to work and make a return while still having access to their assets. This is particularly intriguing for nations in Latin America that have seen high levels of inflation, such as Argentina and Venezuela. This is the demographic Bitso is targeting with its new function. Bitso CEO and co-founder Daniel Voguel commented on this:
“Inflation continues to rise worldwide and especially in Latam, with this new feature we are providing a new way to increase your wealth just by having your assets in your Bitso wallet.”
Other cryptocurrencies may be introduced to the Bitso+ programme in the future, according to the exchange.
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