While the trading platforms are striving to get their users to continue to HODL their digital assets instead of selling them, Bitbns, a cryptocurrency trading platform based in India has come up with an initiative which would benefit all their users.
The Bitbns team has introduced interest rates on holding cryptocurrency starting from this financial year. All the existing and new customers are eligible for the newly introduced plan just by opening a Bitbns Hold and Earn Account (BHE Account). These customers are entitled to earn up to 20% interest per annum on their cryptocurrency balance on Bitbns platform.
For example, consider a scenario where a user is holding 1000 XRP from 1st April 2018 to 31st March 2019. He / She will be earning 1200 XRP on 31st March 2019.
Users can open a BHE account by visiting Bitbns.com or by downloading the Bitbns App. They create an account by verifying their identity. They have to fill a registration form and the team will get in touch with the users once their account approval has been completed.
Apart from the normal interest plan they have also launched a new referral plan for their users. Bitbns users can refer their friends or family members to open a BHE account and earn 5% of their interest income.
Based on this exemplary initiative, one of the Bitbns team members said:
“We see lot of users just hold there cryptocurrency for long terms gains. But cryptocurrency market is quite volatile in nature & so we want our users to earn. Why only hold when you can earn interest for holding.”
With reference to the report they published on March 31st about introducing interest rates, they have given a detailed explanation of how this can be a part of Margin Trading in India. The idea behind this is to connect lenders with potential borrowers which are also known as Margin Funding. The trading with borrowed assets is called Margin Trading. These trading techniques will essentially help the users to multiply their earnings instead of selling their digital assets.
The team also mentioned that they will be introducing several short terms and long-term plans in future which would likely give much greater opportunities to all the cryptocurrency wizards and blockchain startups.
Jay, a Twitterati says:
“Love u guys!! U r the best exchange in India! MARGIN TRADING!!”
The post HODL is getting more favorable by the new interest rate plan by Bitbns appeared first on AMBCrypto.
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