Press Release

Bitrue Exchange Presents Investors with a Smart Investment Product

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Currently, crypto exchanges majorly deal with facilitating conversion services between fiat and digital currencies. However, Bitrue exchange realizes the need for accessing a valuable source of income amid a bearish and volatile market. 

Besides enabling exchange services, Bitrue presents the PowerPiggy investment product, which rewards users for holding the platform’s listed coins. The lock-up investment service first featured in December 2019, offering coin holders with interest payouts ranging from 10.20-15%.

A lock-up period of 30 days also applied, meaning that users can withdraw their holdings only after 30 days. As a hybrid exchange blending CeFi and DeFi functionalities, Bitrue’s PowerPiggy product projects to create a lucrative staking set up where investors can maximize profit.

PowerPiggy Investment for Productive Returns

The second lock-up round launched in January 2020 providing users with an option of investing in three cryptocurrencies available at that time. In essence, investors could either lock up VET, BTC, and XRP on their portfolio and realize an interest of 10.2% for the three digital assets. 

An additional bonus is the exchange’s native asset known as BTR, which, when staked, generates a unique VIP cap for the lock-up investment solution. Through the VIP PowerPiggy caps, users can invest at any time linking investment amounts to their BTR holdings. According to Bitrue’s CEO, VIP caps go a step further towards increasing an investor’s income rather than leaving their money dormant in bank accounts. 

As of now, the PowerPiggy investment product accommodates 40 digital assets, each with different interest rates. 

How PowerPiggy Achieves Sustainability

Initially, the lock-up investment product gained financial support from the exchange’s trading fees. However, leveraging the trading fees garnered from the platform wasn’t focused on instilling value to BTR holders who contribute to the development of the exchange. Due to this reason, Bitrue set out to implement certain interest rate adjustments on the digital coins it hosts. 

By designing a baseline and a maximum interest rate for assets, Bitrue can accomplish its goal of attaining long-term sustainability for BTR holders. 

Bearing that in mind, below is a comparison of interest rates for different assets. Notably, most of the interest rates are based on an unlimited lock-up duration.

Bluechip DeFi tokens

UNI token generates an interest rate of 1.5%, MIR token- 10% interest rate, a 65% interest for CAKE token, LUNA token garners 8% interest, BANANA token– 60% interest, and Aave with a 1.5% interest.

Smart Contract Assets

XLM- 4% interest, DOT- 7.3%, KSM- 1.5%, SOL- 2% interest and a 12% interest for a 30 day lock-up period, HBAR- 2%, and ADA (with a 4.6% interest on unlimited lock-up periods, and 7% interest on a 30 day lock-up duration).

Meme Coins

Shiba Coin- 1% interest, DOGE- 2.5%, SAFEMOON- 2%

Stablecoins and Other Cryptocurrencies

TUSD/USDT- 10.8%, BTC- 3.6%, XRP- 3.6%, LTC- 4.3%, BCH- 4.3%, and ETH- 3.6%

A recent modification of the interest rates occurred on June 2021 for several coins, as displayed below:

BTC- 4% interest, ETH- 4%, ADA- 5%, VET- 3.8%, and USDT/USDC/TUSD/GUSD/PAX stablecoins with a new rate of 12.5%.

PowerPiggy 2.0 Finally Launches

A new version of PowerPiggy launched in June 2021 to adjust the reward rates for holding BTR. The APR base rate for holding BTR worth between $500- $10,000 (excluding $10,000) will be *1.034. 

Consequently, holding BTR worth $10,000 or more attracts an APR base rate of *1.2%. Furthermore, the new 2.0 version allows users to use a VIP cap once they include BTR on their accounts.

BTR Native Asset

The BTR token powers Bitrue’s ecosystem as it is widely utilized to accomplish different tasks within the exchange. The digital token has an overall supply of 150.52 million and a current price of $0.107922. In June 2021, the exchange revealed a new functionality for the BTR coin detailing that holders would vote to list new coins. 

The process will start by staking BTR on the platform for seven days, along with a suggestion of which coin a user deems suitable for listing. On top of that, users will receive rewards based on their preferable coin. The coin with majority endorsements from the voters will be listed on Bitrue’s network immediately.

Still, on the listing subject, BTR managed to feature on a leading Korean exchange known as ProBit exchange at the end of May 2021. Listing the BTR/USDT pair on the Korean platform enables the native token to go mainstream and, at the same time, build value for the BTR asset. 

Moments after the listing announcement, Bitrue showcased its gratitude by allowing the existing BTR holders to invest their coins for 30 days and reap profits of 15% APR.

An Overview of Bitrue Exchange

Bitrue operates as a cryptocurrency exchange network launched in 2018 under the leadership of Curis Wang. The Singapore-based exchange has its application running on both android and iOS devices with an impressive user experience. 

Bitrue prides itself on a secure platform employing a multi-signature system on its cold storage wallet. On the interface, Bitrue incorporates several languages for its global user-base ranging from Chinese, English to Spanish. Since it is a hybrid platform, as mentioned above, it offers users access to loaning services on digital coins such as USDT, ETH, BTC, and many more. 

Conclusion

Investors in the crypto space now have a chance to marvel as Bitrue exchange presents a lock-up investment product with minimal risks. It is evident that digital currencies experience volatile patterns, which bring losses in most cases. 

However, PowerPiggy hopes to change that narrative by putting an investor’s holdings to work and generate profitable interest rates. Therefore, PowerPiggy’s goal combats the traditional financial system’s method of holding money in accounts to gather interests below the inflation level.

Morris

Morris is a Technology enthusiast and a writer by night. He has been a part of eTrendy Stock for quite some time and he contributes knowledgeable news articles from the Technology niche.

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Morris
Morris is a Technology enthusiast and a writer by night. He has been a part of eTrendy Stock for quite some time and he contributes knowledgeable news articles from the Technology niche.

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