Mexican Crypto Exchange Bitso Launches Stable Yield Program
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Loading... - Adelino Langa
- 12 May 2022
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Bitso, a Mexico-based cryptocurrency exchange, is expanding its range of crypto investing options. The company has announced it will now allow customers to earn funds just by holding bitcoin or stablecoins in its wallet. The program, called Bitso+, will offer different yields based on the quantities deposited by users, and it is designed to help customers tackle inflation problems in Latam.
Bitso Introduces Yield Program for Bitcoin and Stablecoins
Bitso, one of the biggest cryptocurrency unicorns in Latam, is expanding its services offerings by introducing new yield services for customers. A new program, called Bitso+, will offer users different yield plans according to the cryptocurrency and the quantities present in the wallet of the exchange.
This program, which was available to many users before and is now open for all users, offers up to 6% yield for bitcoin deposits, and up to 15% yield in stablecoins. However, this depends on the amount that the user has in the exchange wallet. For example, for bitcoin, the 6% yield applies for the first 0.4 BTC, and then 3.5% applies for the BTC outside of that range. In the same way, if the stablecoins invested go above $1,000, the yield goes down to 10%, and from $20,000 and up, a 7% yield applies.
David Álvarez, from Bitso+, remarked on the importance of USD-pegged stablecoins in this system for the early adopters. Álvarez stated:
It will be a dollar and it is an easier way to understand the benefits of cryptocurrencies.
Targeting Inflation-Informed Customers
Users and holders of crypto are now seeking more and more options to put their funds to work by earning yield while still having these funds available for withdrawals. Read More...
