CryptoBiz Exchange has increased the duration of bets on its mobile app up to 3,6 and 9 months. In a statement, the exchange said it increased the length of bets due to user demand and to incentivize users with better interest returns on amounts wagered with the exchange.
CryptoBiz Exchange had launched the cryptocurrency staking feature in 2021. Previously, it offered the option to stake amounts for a maximum duration of 4 weeks. The statement said that CryptoBiz's advanced staking option has allowed users to take advantage of the facility to 'stake' or keep their existing crypto with the exchange, while earning constant interest for it.
Commenting on the initiative, Rahul Rathod, Founder and CEO of CryptoBiz Exchange, said: "As we know, staking is said to be one of the safest ways to ensure consistent returns in a highly volatile cryptocurrency market, especially for those who want to hold Cryptos for longer periods of time instead of going into day trading. Personally, I think this step will prove to be fruitful and profitable for investors as participation ensures income through interest.โ
The CryptoBiz app offers built-in key lockers and secure logins.
CryptoBiz Exchange also plans to launch a virtual marketplace for seamless buying/selling of NFTs to promote Indian creators.
CryptoBiz Exchange is an advanced trading platform that makes it easy to buy, sell and trade virtual assets using fiat currency, as well as other digital assets. The company has its financial headquarters in Estonia.
Should you bet?
Crypto is an unregulated asset in India. The crypto market is highly volatile and investing in it can lead to losses. In India, there is also a flat 30% tax on any income from cryptocurrencies and other virtual digital assets. Therefore, you should do proper research and consult your financial advisor before investing in crypto.
