BSave, London-based bitcoin savings account, has opened registration for its new bitcoin savings platform, after raising over $400,000 in seed capital. Enabling users to earn interest on inactive bitcoins, BSave has variable interest rates and is built on the services of bitcoin wallet Coinbase, chosen for its strict security protocols and large customer base.
With options to suit long and short term saving plans, BSave has daily variable interest rates calculated using the size of the investment and the length of time it has been in the user’s account. Interest on the deposit begins as soon as it is made, with the interest being credited at the end of each 24-hour period. The platform also includes a widget which displays a live projection of the daily return on the user’s investment which is synced with the margin loan market performance, allowing users to make decisions based on accurate, current data. To allow flexible saving, BSave permits customers to withdraw their funds in totality with no penalties at any time.
In its attempt to ensure users feel secure using its services, BSave offer accounts protected by encrypted SSL and 2-step verification, with the addition of security systems to ensure withdrawals can only be done between a user’s wallet and their BSave account. Transactions are additionally monitored by its security team.
BSave is made up of a group of online entrepreneurs from areas such as finance, high tech development and online marketing. Co-founder Jonathan Azeroual, former Societe Generale said:
“People come to expect more robust, user friendly and dynamic platform. It’s the threshold for delivering a digital product or service today. Money and banking are certainly moving toward this digital hunt and financial services face a digital and human imperative to become more efficient. Bitcoin and digital crypto-currencies may be best suited to disrupt finance and become a global platform for storing and exchanging value. BSave aims to unlock this potential by introducing a paradigm shift for online savings.”