Key Takeaways
Austrian platform 21bitcoin launches 1.21% annual interest on uninvested euro balances, payable directly in bitcoin without conversion fees.
According to Bitcoin Magazine, Austrian Bitcoin platform 21bitcoin has announced it will pay 1.21% annual variable interest on customers' uninvested euro balances, with the option to collect the earnings in bitcoin without any conversion fees. 21bitcoin stated that it is the first provider in Europe to offer savings interest paid directly in Bitcoin.
The interest applies to all euros in the account, including cash reserved for open limit orders or savings-plan purchases, with no minimum deposit or lock-up period required. Co-founder and CEO Daniel Winklhammer commented on the initiative. The funds are held in a segregated trust account as instant-access savings at Volksbank Raiffeisenbank Bayern Mitte eG, a German bank holding a stake in 21bitcoin since 2023, which provides the money. 21bitcoin passes the interest on in full without keeping a margin.
The variable rate is subject to German withholding tax. Founded in 2021, 21bitcoin holds a MiCAR license in Austria, is authorized by BaFin in Germany, and reports over 100,000 users alongside more than €650 million in trading volume.
Source & Fact-Check Note
https://bitcoinmagazine.com/news/21bitcoin-pays-interest-on-euros
