Key facts:
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This plan has a maximum fund of 1.8 million USDT and 120 BTC.
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The service is not available for the United States, China, Hong Kong and 4 other countries.
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The exchange house Huobi launched its savings plan with Bitcoin and Tether that offers 88% annualized. This plan begins to be available on August 20 and new users who pass the identity verification process with KYC (Know Your Customer o Know your Client).
In a blog post published by Huobi on August 19, the exchange reported that savings accounts will have a limit of up to $ 3,000 in tether (USDT) or bitcoin (BTC).
The savings program will be available with both cryptocurrencies mentioned above, but with a total maximum of 1,800,000 USDT and 120 BTC. The savings account of Huobi will allow deposits and withdrawals at any time and will pay daily interest with real-time settlements, it adds the note.
It is a special program with a duration of 7 days for the entry of interested users. At the time of writing, the first 10,700 USDT (just 0.59%) has already been covered, while the entire BTC quota of the plan is still available.
The text also indicates that this program will only be available to about 1,000 users. None of them may be located in the United States, China, Hong Kong, Singapore, Japan, the United Kingdom or Germany, countries restricted in the program Huobi.
Ciara Sun, vice president of Huobi Global Markets, assured that the creation of this savings plan responds to the interest of users to keep their funds in a single platform, with the option of obtaining profitability “without worries”.
In addition, he announced that this product is available for the moment only in the web version from the platform. However, he added that it will be incorporated into the mobile version later, without specifying a date.
Huobi is the second cryptocurrency exchange with the highest daily exchange volume. According to data from LiveCoinWatch, it is only behind Binance, with more than 1.4 billion dollars traded in the last 24 hours.
Precisely, Another platform that recently launched a savings program was Binance. How reported CriptoNoticias This August 18, in this case, users will be able to choose to hold funds in three currencies anchored to the dollar, such as USDT, USD coin (USDC) and the exchange house’s own stablecoin, Binance USD (BUSD).
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