BTC.sx Rebrands as Magnr, Introduces Bitcoin Savings Accounts

Magnr, formerly BTC.sx - a bitcoin derivatives trading platform - has rebranded and is now offering bitcoin saving accounts with an interest rate fixed at 2.18% for a promotional period of six months. Following this, the interest rate will be variable, dependent on trading fees generated by users on the platform. Magnr declined to reveal its trading volume but said that it had surpassed 60,000 total trades earlier this year. When asked about the potential implications of bitcoin's price volatility on users' interest rates, Josh Blatchford, chief marketing officer at Magnr, emphasized that....

Magnr, the Bitcoin savings bank and trading platform recently suspended its activities for a short time to re-evaluate its security features following the Bitfinex incident. The recent incident with Bitcoin has got a lot of Bitcoin companies on high alert. Many digital currency companies have started to re-evaluate their security. Magnr, the Bitcoin savings and investment platform recently went through a similar exercise. Yesterday, Magnr suspended its operations partially for few hours. The platform, in a notice to all its customers, stated that the precaution was taken following the....

While several global headlines have declared that millennials are increasingly disinterested in banks, the owners of BTC.sx exchange have launched Magnr, “the first savings account for Bitcoin.” They promise a 2.18 % return over the first six months of a deposit, and claim that all depositors will be able to audit their individual holdings on the Bitcoin blockchain. Wondering just how bank-like Magnr intended to be, CoinTelegraph interviewed Josh Blatchford, CMO of Magnr. “One key difference from traditional processes is that we maintain all transactions on the blockchain such that all our....

Crypto investors can earn interest via crypto lending by finding a cryptocurrency exchange or DApp that offers a crypto interest account. The cryptocurrency industry has offered developers and investors the opportunity to introduce new financial tools providing plentiful options to earn passive income. Simply holding crypto has offered patient investors the chance to make gains over the years. However, there are various other ways to increase crypto assets’ stacks, even in bear markets.Other than staking, crypto savings accounts allow retail investors to accrue their funds by earning....

The mainstream has caught a whiff of the gains cryptocurrencies like bitcoin and ethereum have seen, but many people are not aware of the passive income crypto users are getting as well. While financial incumbents are giving people with savings accounts a measly 0.35% to 0.60%, digital currencies can give people 1-17% or even more by leveraging certain tactics. Crypto Returns That Outpace the Savings Account You may have heard the term “make your money work for you” in the past, and that’s what savings accounts do if they earn a percentage of interest over time.....