Recently, Bitrue introduced its Power Piggy feature that allows one to earn up to 7.3% annual interest on deposited cryptocurrency. It looks like Bitrue now has the same feature as Celsius Network, who began offering this exact service a while back. Let’s take a more in-depth look.
What is Celsius Network?
Celsius Network is a platform that offers crypto loans and crypto storage. According to Alex Mashinsky, Celsius Network’s mission is to educate people and help them earn interest on their money. In other words, by depositing Bitcoin or Ethereum on Celsius Network, one becomes a long term investor earning interest on his or her cryptocurrency. Anyone can make an average of 7.3% annual interest on their crypto. The platform supports over 15 different digital coins, including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and others.
What is Bitrue?
Bitrue is a crypto exchange that is considered one of the most promising young businesses in Silicon Valley. The company managed by CEO Curis Wang is continuously working on the development of new creative solutions to stay ahead of the game. One of such newly invented solutions has become Power Piggy. Power Piggy is a cold storage feature that allows Bitrue users to earn an average of 7.3% interest on deposited cryptocurrency.
The Rise of Crypto Banks
With the popularity of services allowing one to earn interest on his/her money, there will be more competition in this niche on the market. More players will join the game by offering a higher return on investment and support of a higher number of cryptocurrencies.
The quantity of banks is shrinking over some time. And, the empowerment of crypto HODLing will only accelerate at this point.