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CFTC-regulated cryptocurrency platform LedgerX is hoping to lure bitcoin investors, onboard more clients by launching a savings account with a premium interest rate.
The amount of interest paid on savings accounts will vary by several parameters, which the client can tweak to potentially receive a premium in U.S. dollars on his bitcoin holding.
However, LedgerX’s bitcoin savings account doesn’t work like normal banking accounts as the nature of the cryptocurrency being decentralized and largely pseudo-anonymous, makes the concept of a savings account in the traditional sense doesn’t align with the objectives of what bitcoin is all about.
Instead, the investor deposits a freely ... (read more)