Savings in Bitcoin with 4.3 % Annual Return
Bitwala, a Germany-based alternative bank, announced that it offers savings accounts in Bitcoin for European customers with 4.3 % annual interest.
The bank counts almost 80,000 customers in Europe while the account could start with an initial deposit from € 30 and the interest is paid in the weekly base, every Monday. The accounts are considered open accounts as the bank doesn’t intervene and hold money and the customer can withdraw its money whenever he wants.
The service is offered in partnership with Celsius Network, a company that offers Bitcoin deposits, with an average interest of 3.4 %. It is worth noting that accounts in different DeFi projects offer double interest but with different risks.
Banking products based on Bitcoin are considered the future for banking as more and more customers search for new smart and efficient ways to invest their money.