Coincheck introduces interest accounts in bitcoins
Enthusiasts of crypto currency know well how crypto currency has flown up in Japan. The volume of trading on exchanges is growing at an accelerated pace. And it seems that the Coincheck exchange will soon provide interest accounts. This will definitely mark an important step for the adoption of Bitcoin in the country.
Accounts payable in Japan
This is the first time that the Japanese Exchange enters accounts with interest payments. This change will allow BTC holders to keep their currency on a fixed deposit account. Holders will begin to receive interest at rates of 1-5%. This means that users can not withdraw their funds if they want to receive interest.
At the same time, it is worth mentioning that this offer from Coincheck is very short-term. Official sources say that placing bitkoynov on the deposit is designed for a 14-day period. In exchange for this action, users will receive interest on the account at a rate of 1% per annum. The introduction of funds for a longer period of time will be possible at a higher percentage. Those who want to leave funds on the exchange for a year will receive 5% per annum. This is not too much, but, nevertheless, the proposal is interesting.
Such an opportunity will be beneficial only if customers have enough bitkoynov. According to the report of the Nikkei Asian Review, several hundred thousand citizens are in possession of the bitkoy in Japan. It seems that the figure is somewhat overstated, but, of course, this is possible. And it is not necessary to own a whole bitokonom to make an interest account. Although, of course, owning a large amount of BTC will lead to a larger income in absolute terms.
Compliance with regulatory requirements is not necessary
Even more interesting is that these interest accounts do not fall under the national banking regulations. Recently, Japan officially recognized Bitcoin and Crypto-currencies. However, at the moment, they are not a legal means of payment - in other words, currency regulation on them is not yet available. However, in the coming years the situation may change.
In the end - this is quite a positive news for bitcoin in Japan. The opportunity to officially receive interest from the deposit in BTC is quite intriguing. Long-term investors in BTC will be able to consider this offer in the coming months. The adoption of the crypto currency in Japan is growing, this is the most important news.