BSAVE Raises $400,000 in Seed Capital
BSAVE, consisting of a group of online entrepreneurs with a vision to combine alternative investments (like Bitcoin) with the power of new technology, is a unique savings account that offers daily interest for deposited Bitcoin.
Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with BSAVE and is not responsible for its products and/or services.
BSAVE has successfully secured over $400,000 in seed capital, which will help kickstart operations of BSAVE’s early access, as well as full launch.
BSAVE plans to be the first choice for users interested in making passive interest on Bitcoin stored securely. It plans to do this via a combination of competitive interest rates, easy user interface, and cutting-edge security. Jonathan Zeroual, cofounder of BSAVE, commented that BSAVE will greatly simplify online banking for many, as:
“People come to expect more robust, user friendly and dynamic platform. It’s the threshold for delivering a digital product or service today. Money and banking are certainly moving toward this digital hunt and financial services face a digital and human imperative to become more efficient. Bitcoin and digital crypto-currencies may be best suited to disrupt finance and become a global platform for storing and exchanging value. BSAVE aims to unlock this potential by introducing a paradigm shift for online savings.”
Interest rates for Bitcoin deposits vary, and are is “calculated using sophisticated mathematical algorithms reflecting both the size of the balance and the time spent in the saving account.” The interface will also include a “prime widget showing at a glance the live projection of users’ daily return.”
Interest starts accruing minutes after your deposit, and interest payments (in Bitcoin) are credited to a Coinbase wallet of your choosing as soon as 24 hours afterwards. There is no “lock in” period, so users can withdraw the full amount of Bitcoin without any penalties. BSAVE decided to partner with Coibase “due to their stringent security procedures and their large customer base,” allowing BSAVE to receive impressions from a highly targeted market. On top of Coinbase own security implementations, BSAVE compliments this by using SSL, 2 step verification, and having their own dedicated in-house security team monitoring accounts at all time.
Signups for early access are already online, with no definite date for launch of beta or full access of the London based BSAVE platform.
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