LINE’s Global Digital Currency Exchange BITFRONT Now Offering Interest on Crypto Asset Deposits Through Collaboration with Celsius Network

BITFRONT, LINE Corporation’s global digital currency exchange, is now providing interest on crypto-asset deposits through a partnership with Celsius, a blockchain-based crypto reward and lending platform. 

BITFRONT reported that users may sign up from the “Earn Interest” tab on the BITFRONT website and earn up to 12% annual interest on Tether (USDT), Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH) deposits, and get paid with LINK (LN), Tether (USDT), Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). 

“Interest rates differ by payment method and may fluctuate on a weekly basis. Interest will be paid to the users’ account every Monday. The earned interest service is available for limited amounts, according to the product.”

Earned Interest Service Details are the following:

  • No minimum deposit amount
  • No lock-ups, deposits can be withdrawn at any time
  • The interest rate offered may change on a weekly basis based on market conditions. In the event of a change, users will be notified in advance
  • Interest is paid to the user’s account every Monday 
  • Interest is calculated as weekly compound interest when receiving interest in a deposited coin and calculated as simple interest when receiving interest in LN
  • Tether (USDT): 7.71% APY (compounded weekly), or 12% simple interest in LN
  • Ethereum (ETH): 4% APY (compounded weekly), or 5% simple interest in LN
  • Bitcoin (BTC): 3.46% APY (compounded weekly), or 5% simple interest in LN
  • Bitcoin Cash (BCH): 3.46% APY (compounded weekly) or 5% simple interest in LN

Speaking about the collaboration, Alex Mashinsky, CEO of Celsius Network, added:

“As the first phase of what will be a long and multi-faceted partnership with the LINE corporation, we are positioned to accelerate  our goal of bringing the next 100 million people into the crypto community to benefit from blockchain’s potential for financial freedom.”

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