London-based BSAVE has completed a $400,000 round of funding for seed capital and has announced a savings account for users who can directly connect it to their Coinbase wallet to store Bitcoins while earning interest payments every day for their savings.
BSAVE has announced a new platform that enables users to gain savings from their bitcoins by offering a savings account. Daily interest is credited to each user’s account at the end of a 24 hour period, and the savings account is also a zero-balance account, the company says, with no penalties imposed if the user wishes to withdraw his or her bitcoins entirely.
In a press release, BSAVE notes that users’ accounts can be linked directly to Coinbase accounts, meaning the user will have to have an account with the bitcoin wallet provider. Daily variable interest payments are calculated algorithmically.
The interest is based on the size of the funds held in the account and the longevity of the funds stored in the savings account.
Jonathan Azeroual, a former Societe Generale employee who co-founded BSAVE notes:
Bitcoin and digital crypto-currencies may be best suited to disrupt finance and become a global platform for storing and exchanging value. BSAVE aims to unlock this potential by introducing a paradigm shift for online savings.
CCN.com recommends this for a quick read on how you can save and protect your bitcoins.
Image from Shutterstock.
Last modified: May 21, 2020 11:00 AM UTC