Crypto interest-bearing accounts are all the rage these days, but most people don’t know that the idea was introduced more than a decade ago using bitcoin.
on February 13, 2012. “We are the first website to offer interest for Bitcoin deposits. This post is intended to explain how the system works — Assuming you deposit $10,000 with us and the interest rate is always 4.17, you will get $4.17 every day or $1,644 every year .”
A great deal of today’s interest-bearing protocols stems from the world of decentralized finance , which is a whole lot different than Bitcoinica’s interest-bearing account offering. Bitcoinica’s concept is similar to what centralized crypto exchanges like Coinbase, Crypto.com, and many others offer today, as Bitcoinica was a centralized bitcoin trading platform., in a sense, as it offered interest-bearing payments but eventually went under from financial difficulties.
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