LedgerSavings, a Bitcoin interest saving platform launched by LedgerX. LedgerX is a digital currency clearing house and options exchange which is also regulated by the US Commodity Futures Trading Commission (CFTC).
LedgerSavings promises its customers a 16% interest per annum for long-term Bitcoin holders.
According to an announcement from the company, the first transaction was made in July at an interest of 15% per annum for 6 months. This was done despite the high volatility and price fluctuation of the biggest cryptocurrency.
Paul of LedgerX said in a statement “The key insight and contribution from LedgerSavings is that it could be viewed in a way that was more relevant and intuitive to a broader set of customers.”
LedgerSavings is a simplified version of LedgerX’s cryptocurrency derivative trading platform which focuses on providing call overwrite and utilizes the platforms already existing trading products.
LedgerSavings is for users who like to hold bitcoin for a long time and who are more interested in call overwrites rather than options trading.
As stated on the website “As with any limit order on the LedgerX platform we do not have a guarantee of execution[…..]The order is executed in price-time priority on the central limit order book.”
At the time of writing this article, the LedgerSavings has a 16% interest rate per annum and for now, supports only Bitcoin. The company also stated that it would add Ethereum later.