Post
Topic
Board Press
Re: [2018-06-10] This Japanese Exchange Will Borrow Your Bitcoin for a Yearly Fee
by
veleten
on 10/06/2018, 19:02:20 UTC
In an apparent step to increase liquidity and attract users, Japanese cryptocurrency exchange Bitbank has announced a bitcoin burrowing program.

One of Japan’s 16 full-licensed cryptocurrency exchanges, Bitbank offers eight cryptocurrency trading pairs and is ranked 31st in the world in terms of total daily traded volume.

Interestingly, Bitbank is seemingly stringent with its 12-month lock-in period.

Interestingly, the exchange’s rival GMO offers a much better deal for users with regards to a lock-in period – offering a three-month minimum timeframe for users who lend their bitcoin, and a 150-day timeframe for other virtual currencies, such as ether, ripple, and litecoin.

https://www.ccn.com/this-japanese-exchange-will-burrow-your-bitcoin-for-a-yearly-fee/



there was/is an exchange that did almost same https://vircurex.com/
they offered interest if a trader kept balances over a certain threshold,think it was 5 btc
guess what happened? yes,they stopped paying the money and froze the balances
so think twice if you want to keep your coins locked at an exchange
p.s. its borrow,not burrow because it sounds much grimmer