Luno has announced that customers can now add USDC and Ethereum to their Luno Savings Wallet, providing them with the ability to earn even more interest on their crypto savings. The addition of not one, but two new cryptocurrencies to the Luno Savings Wallet, gives users the ability to earn up to 4% per annum on Ethereum and 7.6% on USDC.

Luno users can already earn up to 4% on their Bitcoin savings. The addition of two new crypto currencies to the Savings Wallet gives users even greater flexibility and potential to earn interest as they grow their crypto savings. Users can start earning immediately with no hidden fees and interest paid out monthly. With no fixed terms, no minimums deposits and 24/7 access, users are always in control of their finances with Luno.

Since launching Luno Savings five months ago, almost a quarter of a million users have moved their crypto into savings. Over $500,000 worth of BTC has been paid out in interest alone. By growing their customers’ savings options, Luno aims to provide accessible savings options for the more than a third of people (35%) who are not currently earning any interest on their traditional cash savings at all. The same research from last year found 54% are not earning interest through their current or savings bank account, with 40% lacking confidence in their local currency. Luno’s mission is to change this, and make saving  simple and accessible for everyone with a broad range of savings options. 

Marius Reitz, General Manager for Africa at Luno states, “Luno research last year showed that over a third of those surveyed (35%) were not earning any interest on their traditional cash savings at all, so growing savings options and making saving simple and accessible is a priority for us. The same research from last year found 54% are not earning interest through their current or savings bank account, with 40% lacking confidence in their local currency.”

Luno users can already earn up to 4% on their Bitcoin savings. The addition of two new cryptocurrencies to the savings wallet gives customers even greater flexibility and potential to earn interest as they grow their crypto savings. A high percentage of Africans who own cryptocurrency do so for speculative investment purposes, with the majority holding their crypto for the long term. If your crypto investment  strategy is holding your crypto long-term (HODLing in crypto speak), the savings wallet earns you additional interest for what you were already doing.”

Joseph-Albert Kuuire
Joseph-Albert Kuuire is the creator and editor of TechNovaGh.com, an online digital platform focusing on technology in Ghana. Email: [email protected]

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