Bitfinex plans to offer 6.2% for holding BTC, ETH, and XRP

by in Cryptocurrency News


Cryptocurrency exchange Bitfinex, in partnership with the Celsius Network platform, will provide its users with the opportunity to receive rewards from storing Bitcoin (BTC), Ethereum (ETH), and XRP.

According to the press release, starting October 15, Bitfinex customers will be able to create and manage accounts on Celsius directly through the exchange. Thanks to this integration, users will be able to receive up to 6.2% per annum for storing BTC; 6.2% and 4.91% for ETH and XRP, respectively.

“We believe this offer will appeal to customers who have bought bitcoin as a long-term store of value,” said Paolo Ardoino, CTO of Bitfinex.

Trending: Buterin urged Terra to focus on compensation to small investors

The exchange noted that rewards will be accrued daily and paid out at weekly intervals. Bitfinex users will always be able to withdraw their funds from Celcius without any restrictions.

“Our integration with Bitfinex is in line with the goals of both companies - to attract the next 100 million people to the crypto community,” added Alex Mashinsky, CEO of Celsius.

This week, Bitfinex announced the launch of Equity Index Derivatives, which are calculated in the stablecoin Tether (USDT).