Blockchain.com added the ability to make money on bitcoin deposits
The amount of earnings will be 4.5% per annum of the deposit.
The company focuses on hodlers.
Several top executives have previously left Blockchain.com due to alleged intra-corporate disagreements.
International consortium of news organizations developing transparency standards.
With the help of the new functionality, custodian users will be able to receive up to 4.5% per annum of the deposit.
One of the largest cryptocurrency custodians Blockchain.com announced the implementation of the functionality of earning interest on bitcoin deposits.
According to the official announcement, users of the service will be able to open bitcoin deposits in the amount of $ 300 and earn 4.5% per annum.
The new functionality is available only to verified users who are not citizens of Canada, Japan and the United States, and the interest rate remains fixed regardless of the size of the deposit.
Hodling vs trading
In this way, Blockchain.com hopes to attract the attention of hodlers who are used to keeping their assets for a long time. However, as practice has shown, experienced players in the cryptocurrency market prefer not to hold cryptocurrency for years, but to trade at every opportunity.
For such a case, the BeInCrypto editorial staff prepared a practical lesson on how to make money on cryptocurrency practically without risking it..
Blockchain.com previously announced plans to introduce support for bitcoin deposits after the company launched retail lending.
In 2019, COO Liane Duje Guzman and Executive Vice President of Finance Chris Lavery left Blockchain.com.
At the same time, many custodian employees, on condition of anonymity, told The Information that the head of Blockchain.com, Peter Smith, was often dismissive of employees, especially women..
It was also noted that Smith often led company employees to inappropriate conversations that had nothing to do with work..
What do you think? How effective is it to give bitcoin at interest to a custodian? Share your thoughts with us in the comments and join the discussion in our Telegram channel.
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