■ Earn up to 12.73% interest annually on LINK deposits
■ Additional LINK can also be earned through referral promotion event, on now
TOKYO – November 4, 2020 – BITFRONT, LINE Corporation’s global digital currency exchange, is now providing interest on LINE’s own crypto asset LINK (LN) deposits through a partnership with Celsius, the blockchain-based crypto reward and lending platform.
BITFRONT launched interest services in September for crypto asset deposits of Tether (USDT), Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). Now, with the addition of LINK, users can deposit LINK and receive interest up to 12.73% (APY) in LINK. (Note: Each crypto asset has a limit amount that can be deposited for interest)
Users can sign up and find details about the service from the “Earn Interest” tab on the BITFRONT website (https://www.bitfront.me/lending/products).
Since launching in 2018, LINE has been steadily growing the token ecosystem based on its crypto asset LINK. As a global crypto exchange, BITFRONT has introduced a diverse range of financial services, aiming to expand the usage of crypto assets. The introduction of LINK to the earned interest service is aimed at increasing the usage of LINK as well as rewarding users for lending crypto assets.
BITFRONT also recently added another payment option enabling users to purchase cryptocurrencies easily with debit or credit cards directly from their wallet. And BITFRONT plans to add more features and services to further develop the crypto asset market and open up more financial possibilities.
To celebrate the launch of the LINK earned interest service, BITFRONT is carrying out a Referral Promotion event. Users can invite friends through a referral code to join the service, and once the new joiner receives the interest from their deposits, both the user and the new joiner can receive an additional 20% worth of interest in LINK. In addition, for those who join before November 29, another 10% worth of interest will be given in LINK.
■ BITFRONT Overview
•Operated by: LVC USA Inc.
•Service type: Cryptocurrency-to-cryptocurrency and fiat-to-cryptocurrency exchange
•Opened: February 27, 2020
•Available regions: Global (except Japan and certain states in the United States)
•Available languages: 15 (including English, Korean, and Chinese)
•Coins traded: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Tether (USDT), LINK (LN), Litecoin (LTC)
-Official website: bitfront.me
-LINE Official Account: @bitfront
-Facebook Page: fb.com/bitfront.official/
[Earned Interest Service Details]
•No minimum deposit amount
•No lock-ups, deposits can be withdrawn at any time
•The interest rate offered may change on a weekly basis based on market conditions. In the event of a change, users will be notified in advance
•Interest is paid to the user's account every Monday
•Interest is calculated as weekly compound interest when receiving interest in a deposited coin, and calculated as simple interest when receiving interest in LN
•LINK (LN): 12.73% APY (compounded weekly)
•Tether (USDT): 8.25% APY (compounded weekly), or 12% simple interest in LN
•Ethereum (ETH): 5.44% APY (compounded weekly), or 6.5% simple interest in LN
•Bitcoin (BTC): 3.72% APY (compounded weekly), or 5% simple interest in LN
•Bitcoin Cash (BCH): 3.46% APY (compounded weekly) or 5% simple interest in LN
•Litecoin (LTC): 4% APY (compounded weekly) or 5.5% simple interest in LN
•Coins used to make a deposit to these products is not protected or covered by BITFRONT.
•This product is provided in partnership with the Celsius Network. BITFRONT is not responsible for any problems or losses incurred by the Celsius Network.
■ About LINE Corporation
Based in Japan, LINE Corporation (NYSE:LN/TSE:3938) is dedicated to the mission of “Closing the Distance,” bringing together information, services and people. The LINE messaging app launched in June 2011 and since then has grown into a diverse, global ecosystem that includes AI technology, fintech and more.
■ About BITFRONT
Based in the United States, BITFRONT is a digital currency exchange operated by LVC USA, under both LVC Corporation and LINE Corporation. Launched on February 27, 2020, BITFRONT focuses on providing a user-centered experience through first-rate customer support, along with the highest levels of security and transparency.