Luno’s saving wallet
Luno users can now earn up to 4% interest per annum on their Bitcoin holdings through the recently launched Luno savings wallet. The offering allows Luno customers with Bitcoin to earn passive income on their balance with little effort and no penalties. However, investors should note the warnings regarding risk.
A high percentage of South Africans who own cryptocurrency do so for speculative investment purposes, with the majority holding their Bitcoin for the long term (or HODLing in crypto-speak). “Less than 5% of Luno’s South African customers plan to sell their Bitcoin in the next six months, in fact most plan to buy more, so the savings wallet means they can earn interest by simply doing what they were planning to with their Bitcoin,” sayss Marius Reitz, Luno’s GM for Africa.
Bitcoin has outperformed all major stock market indices (and gold) in 2020.
Platform: Android and iOS
Expect to pay: Free to sign up
Stockists: Visit Luno here for downloading instructions
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