The Japanese crypto exchange Coincheck offers a fixed term deposit in Bitcoin. The interest rate ranges from 1% to 5% depending on the term of the deposit. These term deposits are not and can not be protected by Japanese law, and if the company goes bankrupt, the digital money will not be refunded.

According to statistics, there are several hundred thousands of Bitcoin owners in Japan, but they keep their cryptocurrency in their local or online wallets. Tokyo's Coincheck became the first online service in the country to offer a fixed term deposit with a fixed interest rate. Four types of deposits are available. For a 14-day term deposit, the annual interest rate is 1 %, 30 days is 2%, 90 days is 3%, and 12% is 5%.

If you put on a term deposit of 10 BTC, then in 90 days you will receive 0.07 BTC more.

Since April of this year, Bitcoin has been recognized in Japan as a legal currency. A license is required to open a company with similar activity. The Japanese exchange, Coincheck, not only exchanges digital currency, but also expands on-time deposits in Bitcoin, and introduces it to retail outlets - over 4500 shops and restaurants all over the country accept Bitcoin.

Image source