Bitcoin is out to (eventually) replace your bank account and that's just got more likely with the launch of two bitcoin and ethereum accounts that pay a whopping 6.2% interest on deposits. There is a catch though—that interest will be paid in either bitcoin or ethereum's ether, depending on the account deposits, making this account most appealing to those who want to accumulate as much bitcoin and ethereum as possible. The bitcoin and ethereum interest accounts have been launched today by crypto lending platform BlockFi following a private beta in January that saw them attract over $10 million in deposits from retail, corporate, and institutional crypto investors. The 6.2% interest on BlockFi's bitcoin and ethereum interest accounts, which will see deposits lent out to those who are interested in borrowing crypto, compares to an average U.S. account interest rate of 0.08%, according to some saving trackers. "It has though been pushed on by institutional interest over the last year or so."

Source: Forbes March 05, 2019 12:56 UTC