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.
Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at feedback@btse.com or on Twitter @BTSE_Official.
Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.
