Today, Quickbit launches Earn Wallet, a feature that allows users of the Quickbit App to lend cryptocurrency and earn a yield. Earn Wallet is initially launched for lending Bitcoin and will be available to users of the Quickbit App in Sweden and Norway.
By launching Earn Wallet, Quickbit now gives its Swedish and Norwegian users the opportunity to earn a yield by lending cryptocurrency. Using the service is free of charge and as a first step it will be launched for Bitcoin. Thereafter, additional currencies will be added in the offering of cryptocurrencies that can be lent.
The yield a user receives for lending cryptocurrency through Earn Wallet is variable and can vary depending on the currency as well as other factors. The yield is calculated on a daily basis for the days when cryptocurrency is lent through Earn Wallet and payments are made weekly. Users can at any time choose to move their cryptocurrency from their Earn Wallet back to their crypto wallet, which makes the service both flexible and easy to use.
At the same time, Quickbit is working on the final phase of the launch of the Merchant platform. The ambition is to launch it towards the end of Q1 ‘22/23.
“I am very pleased to announce that we are now adding the Earn Wallet to our ecosystem of crypto solutions. We are the only Swedish crypto company to provide a lending service of cryptocurrency, which further strengthens our position and our consumer offering in the Nordic region. A couple weeks ago, we also made Quickbit Card available in Norway and we are continuing to roll out products at a high pace. We will continue to invest in our platforms and we begin to see positive effects from the work we have put in over the past year”, says Hammad Abuiseifan, CEO Quickbit.
Cynthia Livingston is a news report covering Business category. She is creative and highly professional writer. Cynthia holds a degree in communication and journalism and has also a Diploma in digital marketing. She belongs to south Africa who has also lived in Europe and is currently based in the US.
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