Bittime Gets Crypto Asset Staking Permit from CoFTRA

Liputan6.com, Jakarta – The Commodity Futures Trading Supervisory Agency (Bappebti) has given permission to PT Utama Aset Digital Indonesia or better known as Bittime to operate the crypto asset staking feature.

This staking feature is an activity of storing crypto assets by placing them in the protocol blockchain as collateral, which is carried out to support transaction validation activities on a network blockchain with the system proof of stake or PoS.

Bittime CEO Ryan Lymn explained, with this staking feature, crypto asset holders or stakers will receive a certain amount of reward in the form of the asset itself.

“In the conventional investment world, this staking activity is similar to a deposit with a certain interest,” said Ryan Lymn, quoted from Antara, Friday (26/4/2024).

Ryan really appreciates Bappebti's efforts for giving permission to operate the staking feature, and is proof that Bittime is a trusted crypto asset exchange and investment platform.

“It is something that Bittime is proud of, because it has been trusted by Bappebti to obtain a staking permit. “We hope that in the future Bittime users and the wider community can enjoy our staking products to diversify their crypto asset investment portfolio,” said Ryan.

He continued, the advantages of the staking feature at Bittime, include assets that are 100 percent guaranteed safe and insured, offer high annual percentage yield (APY), have an automatic renewal option, have an early redeem feature, 0 percent administration fee, and a long bonding time. quite fast compared to competitors.

“For crypto assets that can be staked, currently Bittime has 8 coins including Ethereum, USDT, Cardano, Solana, Polkadot, Polygon, Tron, and XDC with APY of up to 15 percent for new users,” said Ryan.

The Bittime staking permit was obtained based on the Decree of the Head of the Commodity Futures Trading Supervisory Agency Number 001/BAPPEBTI/SP-RL/03/2024 concerning Approval of Increasing the Scope of Activities of Prospective Physical Crypto Asset Traders at PT Utama Aset Digital Indonesia.