Nigeria's Busha Launches Busha Yield to Allow Customers Earn Up to 10% Annual Interest on Dollar Stablecoins - Newslibre

Nigeria’s Busha Launches Busha Yield to Allow Customers Earn Up to 10% Annual Interest on Dollar Stablecoins

Busha, a crypto exchange in Nigeria with the mission to onboard millions of Africans into the crypto economy, yesterday announced the launch of its new crypto savings feature, Busha Yield. It enables customers to earn up to 10% APY — eight times the minimum rate for savings deposits with banks on Dollar stablecoins.

Everyday Nigerians, as well as crypto investors, can now buy, sell, save, and earn real interest on cryptocurrencies including Dollar equivalent stablecoins through the easy to use, reliable, and secure Busha app.

With interest being paid out daily, and flexible redemption with no penalties, this arguably will be the best flex savings for Dollar equivalent assets in Nigeria offering a high and reasonable yield.

“An average Nigerian understands the importance of saving for the future and are constantly looking for the next opportunity to invest in, which is why a lot are susceptible to bad actors, I’m glad that Busha is able to give honest, hardworking Nigerians an opportunity to diversify their portfolio to include crypto without necessarily getting exposed to the volatility of the market while earning decent returns,” said Michael Adeyeri, CEO of Busha.

“We wanted to create an experience that allows crypto-curious individuals and sceptics to earn real returns on their assets without being scared of the crazy volatility that’s associated with the asset class,” he added.

Busha Yield enables customers to earn up to 10% APY — eight times the minimum rate for savings deposits

Customers can transfer their current USDT/USDC balances, or easily purchase with Naira to transfer into the Yield wallet to earn interest for however long the balance is maintained. Interest is paid out daily, they can also redeem their subscription and withdraw anytime. Over time, Busha Yield will be exposed to institutional customers who want to start earning on dormant balances.

The launch of Busha Yield is the first major product release since the announcement of the seed round investment in Busha late last year led by Chicago-based Jump Capital. This and subsequent releases will further the company’s mission to make crypto mainstream and onboard millions into this new economy.

The feature is immediately available to all customers. A minimum subscription of 10 USDT/USDC is required to get started and no fees to transfer into or redeem from Yield wallet. In the coming months, other crypto assets will be made available on the Busha Yield too.

Download Busha App to get started.

 

Interesting read: What Type of Cryptocurrency Wallet Should I Get and How Safe is It?

Nigeria's Busha Launches Busha Yield to Allow Customers Earn Up to 10% Annual Interest on Dollar Stablecoins 1

Author: Allan Bangirana

Allan Bangirana has a taste for all kinds of topics and usually writes about tech, entertainment, sports and community projects that make a difference in society.

He writes for Newslibre and Spur Magazine. He is also the co-founder of the Innovware project and a freelance consultant passionate about technology and web.

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