Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Crypto Exchange

Bitso users can start earning yields on the crypto in their wallets

Latin American crypto exchange Bitso is now offering its clients the opportunity to rack up extra earnings on the crypto in their wallets through a new yield feature.

Bitso users in Argentina, Brazil and Mexico are now able to earn yields on their crypto balance by using this new feature, which is called Bitso+. The exchange says the yields will reach up to 15% annually for stablecoins and 6% annually on bitcoin, without any extra fees or lock-up period. Bitso offers USD Coin (USDC), Pax Dollar (USDP) and Binance USD (BUSD) stablecoins.

“Bitso partnered with reputable yield providers to take advantage of strategies such as earning interest by lending crypto assets, earning rewards by staking on proof-of-stake blockchains or providing liquidity to DeFi protocols, and profit by simultaneously buying and selling a crypto asset on different markets at different prices,” David Álvarez López, Bitso’s savings product manager told The Block in an email statement. 

The yield option will appear automatically in the latest version of the Bitso app and reward users every week, the company said in a press statement. 

Bitso is registered and regulated in Gibraltar, but operates in Latin America. It has more than 4 million users in Argentina, Brazil and Mexico. The exchange is also expanding into Colombia

“Inflation continues to rise globally and [e]specially in Latin America, and with this new feature we are giving our clients and the Latin American population as a whole a new way to increase their wealth in crypto just by having their assets on their Bitso wallet,” Bitso CEO Daniel Vogel said in the press statement. 

Featured

Bitcoin Mining

Despite a $72 million rescue offer from creditors, concerns have been raised about the general viability of the Bitcoin trading community amid a protracted...

Altcoin

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...

Bitcoin

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...

Ethereum

Ethereum started a fresh decline from the $1,320 resistance against the US Dollar. ETH is struggling and remains at a risk of a move...