Place/Date: Dubai, United Arab Emirates - February 26th, 2021 at 12:09 pm UTC · 3 min read
Contact: Hai Ho, Senior Marketing Specialist, Source: BTSE
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.
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.