The globally recognized crypto platform Luno has introduced a “Bitcoin Savings Wallet” that allows users to earn up to 4% interest while using Bitcoin as their daily payment method. The launch of the Bitcoin Savings Wallet comes after a research conducted by Luno which found that more than a third of people (35%) are currently not earning any interest on their cash savings at all. With inflation above zero, this means that their money has less purchasing power each year.
Luno’s research also found that more than half of people (54%) do not earn interest on their checking or savings accounts, with 40% having no confidence in their local currency. With this in mind, the introduction of the Lunos Saving Wallet comes at a time when a reliable, digital alternative is most urgently needed. Bitcoin outperformed all other exchanges (and gold) in 2020, and Luno’s research shows that at least half of the people around the world want a single global currency, with a massive 94% saying they want to earn interest on their Bitcoin balance.
Main Features of the Bitcoin Savings Wallet
The new Bitcoin Savings Wallet will enable Luno users to make instant payments in Bitcoin to any account worldwide, with users being able to pay only a fraction of a cent with the new platform. The most important functions of the Bitcoin savings wallet include:
There are no fixed terms, no administration fees and your money can be transferred to your normal wallet at any time.
You can either leave your earnings in your Savings Wallet to top up and grow exponentially, or you can withdraw them right away.
The new savings wallet enables customers who have a BTC credit to generate a passive income on their unused credit with little effort and without penalties. Saving 1 BTC for a simple interest rate of 1.5% per year would earn the customer 0.015 BTC per year (about £ 124.00 / $ 160.00 USD at the time of writing).
Believe in Bitcoin
Over 8,800 Luno customers took an internal survey that found that more than 75% of customers expect the Bitcoin price to be higher or much higher by the end of 2020.
Less than 5% of customers said they plan to sell their bitcoins in the next 6 months
More than 50% said they didn’t have any investments other than crypto – possibility of investing within Luno. to “diversify”.
Marcus Swanopoel, CEO and co-founder of Luno, said: “In a time of economic uncertainty, the Bitcoin Savings Wallet is a safe alternative for anyone who wants to save money wisely. Almost 95% of our customers have indicated that they want to earn interest with their Bitcoin, and the nature of Bitcoin allows us to offer a much higher interest rate than traditional savings accounts.
“The introduction of interest on a Bitcoin savings account comes at a time when traditional investments have become vulnerable in times of crisis. There has never been a better time to use a currency that doesn’t rely on a healthy economy to determine its worth. “