RATE Group | German Neobank Offers Bitcoin Accounts With 4.3% Interest
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German Neobank Offers Bitcoin Accounts With 4.3% Interest

14 May German Neobank Offers Bitcoin Accounts With 4.3% Interest

Posted at 05:31h in Bitcoin News by

All 80,000 users of German neobank Bitwala can now purchase, hold and earn interest on Bitcoin (BTC) in their bank accounts thanks to a new partnership with cryptocurrency lending platform Celsius Network. 

According to defiprime.com, Bitwala is the first classic fiat bank to offer interest for holding Bitcoin in their account, with three other DeFi DApps offering similar products. While the DeFi products have higher rates, up to 8.6% per annum, Bitwala is more regulated and offers fiat and cryptocurrency services in 32 European countries under license from leading German bank SolarisBank AG.

Users can buy as little as 30 Euro worth of Bitcoin and hold it in the free Bitcoin Interest Account and receive interest payouts weekly. The Bitcoin in the accounts is lent out through the Celsius Network to ‘trusted partners’. Funds can be converted back to Euros immediately. 

Earning interest with Bitcoin

In a statement, Bitwala CEO Ben Jones referred to the Bitcoin halving as a reminder…

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