Mexican Crypto Exchange Bitso Launches Stable Yield Program

Mexican Crypto Exchange Bitso Launches Stable Yield Program

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. This is especially more interesting for countries that have faced high levels of inflation in Latam, such as Argentina and Venezuela. This is the target audience Bitso is aiming for with this new feature. On this, Bitso CEO and co-founder Daniel Voguel stated:

Inflation continues to rise worldwide and especially in Latam, with this new feature we are providing a new way to increase your wealth just by having your assets in your Bitso wallet.

The exchange informed that other cryptocurrencies might be added to the Bitso+ program in the future. Tags in this story Bitso, Cryptocurrency, Exchange, inflation, Mexico, Yield

What do you think about Bitso’s new stable yield program for crypto deposits? Tell us in the comments section below. Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Coinbase Warns Some Russian Users Their Accounts May Be Blocked, Report Reveals EXCHANGES | 3 days ago Spanish Cryptocurrency Exchange Bit2me Expands Operations to Brazil EXCHANGES | May 3, 2022

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCryptocurrency Exchange Kucoin Raises $150 Million in Pre-Series B Funding Round, Reaches $10 Billion Valuation Next articleLUNA, UST Move Closer to Zero, as Do Kwon Asks Holders to ‘Stay Strong’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether