Users of privacy-oriented cryptocurrency Verge (XVG) have been handed a new feature to enjoy better experience while using the cryptocurrency. A renowned cryptocurrency exchange, Bitbns, has now made Verge available on its fixed income plan.
The cryptocurrency exchange established since December 2017 when Bitcoin peaked, Bitbns, now gives users the option of using XVG token for fixed income plan.
As illustrated by a pseudonymous Verge community member, Verge India, in a screenshot of the exchange, users now have the option of enjoying between a minimum of 1000 XVG and 1,000,000 XVG fixed income plan.
The maturation period of the income plan is 7 days. Users of the exchange are entitled to a 12% annual return of their staked assets via the Bitbns fixed income plan. However, an earlier redemption would only attract only 9.12% return.
While the just launched fixed income plan for Verge (XVG) token is just at its first week of launch, about 17 people have invested via XVG token.
Bitbns established the fixed income plan on May 18 with the aim of letting customers invest a certain amount and get assured reward in return. When it was first launched last month, users could only invest with USDT or BTC in the fixed income plan.
There are several plans which users can choose from. Each plan is designed with an allocated limit, and investment beyond the limit will not be accepted. Funds invested are locked in the exchange for a particular time – “maturity period,” and users are given their reward and principal investment after the maturation period. Funds are sent directly to users’ Bitbns wallet.
Living Room of Satoshi Adopts Verge for Bill Payment Across Australia
In another development, an Australia-based crypto exchange, Living Room of Satoshi, which claims to be the largest crypto gateway in the country, has adopted Verge (XVG). Living Room of Satoshi brings the digital token into the stream of cryptocurrencies that can be used for payment of several utility bills across Australia.
Established in 2014, the crypto exchange allows people to purchase mobile phones, car registration, electricity bills, credit card, or even a bank account, with Bitcoin, Verge, and some other digital currencies.
Over 200,000 bills have been settled via the platform, and a user, in the last 7 hours paid for a bill with Verge (XVG).