With the interest account feature you can put your cryptocurrencies to work and earn interest on your funds. By utilizing the interest account, you lend your funds to the markets and receive compensation for the lending. There is extensive use of margin trading, e.g. trading with debt leverage, where both private investors and institutions need to borrow cryptocurrencies for their trades. The interest rate is determined by the prevailing market demand.
Your cryptocurrencies will not be converted to other cryptocurrencies or sold during the deposit period. Instead, you can be sure that, for example, the bitcoins you have deposited will be retained as bitcoins during the deposit. Interest payable will also be paid to you in the currency you have deposited to your interest account. Now you can benefit both from the potential appreciation of value for your cryptocurrencies while also earning interests. We bring you this service in cooperation with our major partner Tesseract Group Oy.
Depositing into the interest account is quick and easy. To make a deposit, you must have a verified Coinmotion account with either euros or cryptocurrencies on your account. If you have deposited euros, please transfer them into cryptocurrencies, as you can only deposit cryptocurrencies onto the interest account. To find the interest account in Coinmotion, log in and navigate to Savings – Interest Account. When making a deposit to your interest account, select the desired cryptocurrency, amount, and make the deposit. After that, your funds will be moved to the interest account to start earning interest. The daily interest rate is calculated on an compounding basis. The withdrawal period takes a maximum of 30 days, and you can make a withdrawal request to your funds at any time. On the Interest Account page, you can see the funds you have deposited to the interest account, the accrued interest income, and the current market interest rates.
There are no costs when transferring funds to the interest account. You will also not be charged for the duration of the interest account. A small withdrawal fee will be charged withdrawing funds from the interest account. Read more about our interest account on our blog, and find answers to frequently asked questions from our Help Center.
Interest Account & Private CryptoBanking
Would you be interested in depositing a minimum of 100.000€ over a fixed-term period in exchange for higher fixed interest rates? If yes, please contact the representatives of our private banking unit via email [email protected]
Service provided by Coinmotion and Tesseract Group Oy
Tesseract is a digital currency company operating from Helsinki, which is also supervised by the Finnish Financial Supervisory Authority (FIN-FSA). Tesseract, formerly known as WhaleLend, is a European and a experienced player in the cryptocurrency lending market. The company uses only selected and regulated counterparties as its business counterparties. Tesseract additionally uses only service providers that are insured against hacking to fort customer fund transfers and short-term storage. Tesseract has multidisciplinary expertise in portfolio management, capital markets, investments and blockchain technology. Key personnel have work experience e.g. companies such as. BCG, Morgan Stanley & Clifford Chance LLP. Among others, e.g. Taaleri, Estlander & Partners and Icebreaker have invested to Tesseract. You can read more about the company from here.
Prasos Oy, a cryptocurrency brokerage company that owns Coinmotion service, is the first company in Europe to be simultaneously licensed as a payment institution and officially registered as a digital currency service provider. Prasos is a leading Nordic provider of cryptocurrency services in the EEA. The company has been licensed and registered by the Finnish Financial Supervisory Authority (FIN-FSA). In order to obtain permits, the company has had to pass several safety-related audits and controls, and we are subject to continuous reporting. Payment institutions are also subject to the capital requirements of the Financial Supervisory Authority, which means that Prasos’ capital is monitored and regularly reported to the Financial Supervisory Authority. In the industry, almost no other service provider is subject to similar regulations, so in this respect Coinmotion’s operations are very transparent and reliable.