Bitso, a Mexican cryptocurrency exchange, has expanded its portfolio of crypto-investing options. Customers will be able to earn funds by simply holding stablecoins or bitcoin in their wallets. Bitso+ will give different yields depending on how many users deposit. It is also designed to help customers combat inflation in Latam.
Bitso introduces a Yield Program for Bitcoins and Stablecoins
Bitso is one of the largest cryptocurrency unicorns from Latam. It is expanding it services offerings by offering new yield services to customers. Bitso+ will provide different yield plans depending on the cryptocurrency and amount in the exchange’s wallet.
This program was previously available to many users and is now open to all users. It offers up to 6% yield on bitcoin deposits and up to 15% in stablecoins. This depends on how much the user has in their exchange wallet. The 6% yield for bitcoin is for the first 0.4 Bitcoin and 3.5% for any Bitcoin beyond that range. The yield drops to 10% if stablecoins are invested above $1,000. From $20,000 on up, it is a 7% yield.
Bitso+’s David Alvarez commented on the importance USD-pegged stablecoins for early adopters. Alvarez stated:
It will cost one dollar, and you can understand the benefits of cryptocurrency more easily.
Targeting inflation-informed customers
Cryptocurrency holders and users are looking for more ways to earn yield and still have funds for withdrawals. This is particularly relevant for countries like Argentina and Venezuela that have experienced high levels of inflation in Latam. This is the audience Bitso hopes to reach with its new feature. Daniel Voguel, Bitso CEO and cofounder stated that this is the target audience Bitso is aiming for with the new feature.
The inflation rate continues to rise all over the world, and in particular in Latam. With this new feature, you can increase your wealth by simply having your Bitso assets in your Bitso wallet.
According to the exchange, other cryptocurrencies could be added to Bitso+ in the future.
