Speaking about the new wallet service, Marcus Swanepoel, CEO, Luno, said:
“In a time of economic uncertainty, the bitcoin savings wallet is an alternative for anyone looking to get meaningful savings on their money.
Almost 95% of our customers have said they want to earn interest on their Bitcoin, and because of the nature of Bitcoin, we are able to offer a much higher interest rate than traditional savings accounts in certain regions (Europe for example) and comparable to flexible interest offerings in emerging markets such as South Africa.
As traditional investments have shown vulnerability at a time of crisis during 2020, there has never been a better time to benefit from a currency that does not rely on a healthy economy to determine its value.
It’s important to diversify investments given how new the bitcoin industry is. Those who hold Bitcoin will no doubt find the interest earning potential attractive.”