Personal money management app, Ziglu, has announced the launch of Bitcoin Boost, which is a system that allows savers to earn 5% interest on bitcoin investments.
London-based Ziglu was one of the first three companies in the UK to gain FCA registration as a cryptocurrency company and has decided to launch this service specifically for UK customers who, by using Bitcoin Boost, will be able to earn interest on their BTC equivalent to a 5% annual percentage rate.
Interest on the value of bitcoin deposits is calculated every second, and payment is made every week.
The advantages of Ziglu’s Bitcoin Boost
Based on Bank of England figures, floating-rate ISAs currently offer 0.35% per annum, and including any bonuses, they max out at 0.49%, the lowest rate since they were introduced. Therefore the rates offered by Bitcoin Boost are significantly higher.
Customers of the service will also be able to buy or sell BTC on their account freely, instantly and without any penalty, so they can earn interest on both short-term and long-term deposits.
Ziglu was created by Mark Hipperson, with a mission to bring financial equity and inclusion so that everyone can take part in the evolution of the financial world in an easy, safe and convenient way.
In addition to bitcoin, it also offers other cryptocurrencies, including Bitcoin Cash, Ether, Litecoin and Tezos, and has a Mastercard debit card.
Ziglu founder and CEO Mark Hipperson said:
“It’s pretty much impossible to find interest rates that are higher than the rate of inflation, and yet digital currencies and decentralised finance have massive potential to provide a real rate of return for everyone. Our aim is financial inclusion and choice – through the Bitcoin Boost account we are able to offer our customers instant access to bitcoin, and a game changing 5% rate of interest on the value of their bitcoin, no matter how large or small”