DIKSIA.COM - JAKARTA, PT Utama Aset Digital Indonesia or Bittime has released the staking feature for Indonesian crypto investors to conduct various digital transactions including keeping crypto assets safe.
Additionally, the presence of this staking feature can also allow investors to earn passive income simply by storing their crypto assets on the Bittime exchange without incurring any management fees.
“For example, a user saves 1 SOL (Solana) with an interest rate of 10 percent per year by using the staking feature. User assets will increase to 1.1 SOL (Solana) in the following year, a 10 percent increase. “The higher the nominal value of the bet, the larger the nominal reward that is received,” said Bittime Chief Executive Ronny Prasetya in his official statement.
For this staking function, each token later receives a different interest rate depending on the crypto coin chosen. However, keep in mind that the smaller the deposit stake you receive, the lower the compound interest rate (APY/Annual Percentage Return) and vice versa.
“In terms of interest, we believe bittime staking is higher than other platforms. The retention time, or the amount of time it takes clients to transfer or sell their assets, is also quite quick compared to competitors,” said Ronny.
The launch of the Bittime staking feature is not without reason as the growing number of crypto investors in Indonesia have made Crypto Exchange Bittime aim to create a secure platform.
The Commodity Futures Trading Supervisory Agency (Bappebti) noted that the number of crypto investors in Indonesia surged to 17.4 million people in May.
This number increased by 0.87 percent compared to last April, when there were only about 17.25 million people, and a 23.23 percent increase compared to the same period in 2022, when the number of crypto investors was only about 3.28 million people.
The investor surge in Indonesia began after the crypto market recovered from the threat of a bear market. Like the price of bitcoin rising above $30.
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The information provided in this article is for informational purposes only and should not be considered as financial or investment advice. Cryptocurrency investments are subject to market risks, and readers should exercise caution and do their due diligence.
