Blockchain.com Rolls Out Bitcoin Interest Accounts

Blockhcian.com, one of the early crypto wallet platform, has rolled out interest-bearing accounts for deposited digital assets.

Announced on Friday, the stored Bitcoins on the wallet platform will receive an interest of 4.5 percent annually.

"Banks around the world are not only cutting the interest they pay on savings accounts to near-zero, some have even introduced negative interest rates," the official announcement stated. "Compare that to 4.5% and it's easy to see why it pays to hold crypto in an Interest Account."

This came after the United Kingdom-headquartered company first announced the development of such accounts last week.

It is to be noted that the users of the wallet need to apply separately for the interest-bearing accounts.

"Simply visit your Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term.com Wallet, select the Earn Interest, and open an Interest Account today to immediately begin earning 4.5% annually," the announcement added.

The new services are only available to the wallet users who have completed know-your-customer (KYC) processes; however, it will not be available to customers based in the United States, Canada, and Japan.

A new wave in crypto

Crypto interest accounts are becoming very popular lately. Though mainstreamed by decentralized finance (DeFi) platforms, many wallets and exchanges are also starting to offer similar services. Most recently, Delta Exchange, a crypto derivatives Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, launched interest-bearing accounts for trades on the platform, sweetening its offerings.

Founded in 2011, Blockchain.com is one of the oldest companies in the crypto arena and is known for it's free to use Bitcoin wallet.

The platform, however, is now focusing on diversifying its businesses tapping into other crypto sectors, including exchange and lending.

The recent announcement did not clarify how the platform is going to pay out the interests - if they will directly link these accounts to its lending platform or are following some other business model.