We have excellent news for all of our users: Ether, one of the most popular cryptocurrency and the third cryptocurrency preferred by our holders, will be supported by Bitso+ and will start to generate yields. To take advantage of that, users need to enroll to Bitso+, our yield generating product which can be easily find on the first screen in our app. Users who are already registered on the product do not need to do anything, just continue to add Ether on their balance. Yields will be generated from August 29th 2022.
Be ready to learn:
Which are the yields generated by Ether on Bitso+?
Why is Ethereum so important to the crypto community?
If I am using Bitso+ for the first time, what should you know?
And a lot of interesting facts about earning yields with your crypto.
Ready. Set. Go!
What are the yields generated for Ether on Bitso+
Ether will have a tiered rate system similar to what we now have with bitcoin and USD stablecoins.
Tier 1: If you have a balance up to 1.0 ETH, the annual rate will be 2%.
Tier 2: More than 1.0 ETH, the annual rate will be 0.5%.
Let’s dig into this with an example. Imagine Sara has balance of 1.5 ETH:
- For the first 1.0 ETH, she will receive weekly yields on a 2% annual rate;
- And for the other 0.5 ETH in her account, she will receive weekly yields on a 0.5% annual rate.
Why is Ethereum so important to the crypto community?
- Ethereum was launched to go one step further than Bitcoin. It was designed to be more flexible and programmable
- Ethereum’s history is marked by three eras. The eras are the launching, the improvement and growth, and The Merge.
- The platform was launched in 2015. The year was filled with testing and bug bounty programs to help assure Ethereum functioned well
- In 2016 an unplanned hard fork was made. A hacker attacked The DAO forcing Ethereum to hard fork the blockchain, reversing the transaction from the ledger with all the stolen funds, but some nodes disagreed with the change, splitting the blockchain into two: Ethereum Classic (ETC) and Ether (ETH)
- Ethereum is currently transitioning from Proof of Work (PoW) to Proof of Stake (PoS). The Ethereum community plans to go from proof-of-work to proof-of-stake to make the platform more efficient, as known as the merge. More information about this coming soon.
If I am using Bitso+ for the first time what should I know?
Bitso+ is a product inside the Bitso app that allows you to generate yields with your crypto without doing anything. The yields are generated with what you have on your balance. We actually support bitcoin, USD stablecoins and now of course, Ethereum.
Enrolling at Bitso+ is super easy. Just require a few taps on your Bitso app.
To activate Bitso+ just follow these steps:
- Open the Bitso app and select Wallet.
- Under your balance, choose Activate Bitso+ and then tap the button Start earning.
- Review and accept the Terms of Service and the Risk Disclosure. That’s it!
Just make sure you have balance in USD stablecoins, BTC or ETH in order to start generating yields.
If you have any trouble, just check our Help Center and there you will find everything you need to know about Bitso+ and much more!
One of the most important benefits features of this product is that your funds are always available to convert or withdraw giving you the freedom to embrace liquidity all the time.
Another thing that is important to mention is that your yields are calculated daily and delivered weekly on mondays to your account. What an excellent way to start the week, right?
So, don’t lose another minute. Enroll to Bitso+ and starting earning today!
And if you want to learn more details about Bitso+, click here and deep dive on everything.
In case you have not done this already: download Bitso app and enroll to Bitso+.
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