LedgerX announced the launch of a Bitcoin savings account, ideal for those who want to buy and hold this asset.
The cryptocurrency asset management platform’s savings account is the first of its kind to be regulated by the US Commodity Futures Trading Commission (CFTC). This Bitcoin savings account service will provide Bitcoin holders with legal currency gains.
The user can select the number of coins and the expected interest rate, and then submit the relevant data to the LedgerX matching system, which also serves their existing Bitcoin options products.
The basic function of this product is to facilitate investors to know when to sell their assets is profitable, LedgerX’s savings account has obtained two licenses of the CFTC approach: Derivatives Clearing Organization (DCO) permits and interest rates Swap Executing Agency (SEF) license. This marks the growing maturity of services available to Bitcoin users.
The design of this new service is based on the operating practices of LedgerX’s existing customers and is expected to attract a large number of users. Its mode of operation is not much different from an ordinary savings account.
However, this product may be more attractive to Bitcoin hodler, after all, the significance of this savings account is to allow users to put digital currency into, and then wait for the proceeds. Therefore, LedgerX stated that this savings service is more suitable for long-term holders of Bitcoin.
Just HODL it.