Here at Bitso we are committed to providing you the best benefits and usability of crypto but without compromising the security and health of your funds. When it comes to generating yields with fixed rates, it is important to mitigate risks by using a responsible approach.
The approach and risk-mitigating philosophy behind Earnings is composed of a tiered yield system. Below we explain exactly how it works:
In a context of uncertainty, we have chosen safety. That's why Earnings rates will change from November 21st onwards:
- Digital dollars balance will continue to generate yields, now at a 2% annualized rate, which will be financially supported by Bitso.
- BTC and ETH balances enrolled in Earnings will stop providing yields until further notice.
Bitso continues operating as usual: our customers will be able to convert, deposit, and withdraw 24/7, with their funds available at all times.
We have an end-to-end regulated operation where we hold different licenses in each of the jurisdictions where we serve customers. All of our licenses mean that we are under constant scrutiny by different regulators and other third parties around the world in the form of audits. Since 2018, we have become one of the few companies in the world and the first company in Latin America to obtain a crypto license for custody and trading.
Conscious of the fluid market conditions, we have activated our risk process and we currently hold 100% of our Earnings clients' funds at Bitso. Therefore, 0% of our client funds have exposure, directly or indirectly, to FTX/Alameda or FTT.
If you want to unenroll from Earnings, you can contact an agent here: Customer Support Team.