Bitso, an Mexican-based crypto exchange, has expanded its portfolio of options for investing in crypto. It has now announced that customers can earn money by simply holding stablecoins and bitcoin in their wallet. Bitso+ will give different yields depending on how many users deposit. It is also designed to assist customers with inflation issues in Latam.
Bitso launches Yield Program to Support Bitcoin and Stablecoins
Bitso, one the largest cryptocurrency unicorns of Latam is now expanding its service offerings with new yield services. Bitso+ is a new program that will give customers different yield plans depending on which cryptocurrency they are using and how many coins they have in their wallets.
This program is available now to everyone. It has a yield of up to 6% for bitcoin deposits and up to 15% for stablecoins. The amount of bitcoins the user has stored in an exchange wallet will determine the yield. The 6% yield for Bitcoin is for the first 0.4% BTC. 3.5% for any BTC beyond that amount. Similar to the above, for stablecoins that exceed $1,000 in value, the yield falls to 10% and for those invested up from $20,000, a yield of 7% applies.
David Álvarez, from Bitso+, remarked on the importance of USD-pegged stablecoins in this system for the early adopters. Álvarez stated:
You will get a dollar, and you can understand more about the advantages of cryptocurrency.
Attracting Inflation-Informed Customers
Cryptocurrency holders and users are looking for more ways to earn yield and still have funds available to withdraw. For countries like Argentina or Venezuela, where inflation has been high in Latam this is even more appealing. With this feature, Bitso aims to reach this target market. Daniel Voguel (Bitso CEO) stated this:
Latam is experiencing an inflationary trend.
It was informed by the exchange that Bitso+ might include other cryptos in the future.
What do you think about Bitso’s new stable yield program for crypto deposits? Comment below.
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