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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 those saving bitcoin would likely always benefit users through positive returns.
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 those saving bitcoin would likely always benefit users through positive returns.
Full story: http://www.coindesk.com/btc-sx-rebrands-magnr-bitcoin-saving-accounts/