Is there a Bitcoin bank that interests your deposit?
In recent years, the cryptocurrency market has registered rapid growth and, with it, the emergence of new financial institutions that specifically resort to digital resources. Although traditional banks have traditionally doubted this space due to regulatory obstacles and competition of Fintech companies, some innovative actors now offer Bitcoin -based banking services that include accounts of interest.
What is a Bitcoin bank?
A Bitcoin or Crypto Bank bank is an online platform that Bitcoin accepts as a form of payment and provides services such as money management, investment opportunities and even loans. These banks often operate similar to traditional banks, but with the additional advantage of providing access to digital activities.
Are there bitcoin banks that offer interest interests?
Although there are no traditional banks that offer accounts that bring specific interests for Bitcoin deposits, several innovative actors have ventured to this space. Here are some examples:
Coinbase : Coinbase is one of the best known cryptocurrencies exchanges and also offers a debit card that allows users to retire and spend their bitcoins. They do not accept deposits directly or keep them under guarantee, but offer a "Bitcoin savings account" with interest of 0.25% per year.
2.
Bitkub : Bitkub is an Indonesian Fintech company that offers a range of digital banking services, which includes a bitcoin savings account with a minimum balance of 50 million IDR (~ 4,000 USD).
Bitohoo
: Bitowe is an exchange of Korean cryptocurrencies that launched a "Bitowe Savings account" with interest of 0.5% per year for sales of up to 500,000 IDR (~ USD 35).
What makes these Bitcoin banks interesting?
Although these services may not offer the same level of traditional bank benefits as a physical branch or an ATM, they offer some advantages:
* Decentralized and accessible : Unlike traditional banks, which are controlled by the central authorities, digital wallets and online platforms such as Coinbase and Kraken allow users to administer their bitcoins from anywhere with a connection to a connection to a connection to Internet.
* Lower commissions
: Many Bitcoin banks charge lower commissions than traditional banks for services such as transfers, withdrawals and profits.
* Increase in security : Digital portfolios and guarantee storage systems provide greater protection against theft and loss of digital activities.
Is it worth a Bitcoin bank?
Ultimately, it is worth it or not a Bitcoin bank depends on its financial needs and financial preferences. Yes you:
* Need to access multiple cryptocurrencies : A Bitcoin bank can be advantageous if frequent or invested in other digital activities.
* You want competitive interest rates : If you are willing to maintain a balance of at least $ 10,000, interest rates offered by Kraken and Bitkub could be attractive.
* Security and decentralization of value : Digital portfolios and online platforms such as Coinbase and Bitowe offer greater peace of mind than traditional banking methods.
However, if you:
* You want to use your bitcoins only for daily purchases : Traditional banks can provide more convenient services and lower commissions.
* I am looking for an experience without problems : Some Bitcoin banks require KYC documentation (know your client) and can have additional requirements, such as minimum budget thresholds.
Conclusion
Although traditional banking institutions remain the most established and regulated actors in the sector, Bitcoin Bitcoin has emerged innovative to meet the growing demand for digital activities.