In 2016 sentiment towards Bitcoin has been far more positive contrary to 2015 which will be remembered as the year of ‘The Blockchain’. As banks around the world open up to the concept of using Blockchain solutions to solve their problems, Bitcoin adoption continues to accelerate. We see this reflected in new client registrations from all across the globe every day.
We would like to take this opportunity to welcome our newest clients to the Magnr community and to thank our existing clients for their continued loyalty.
If you are new to Bitcoin or just want to stay informed, here are 8 Bitcoin Life Hacks that everyone should know.
FinTech in London
Every week financial institutions across the city of London ask, “How will Blockchain change finance?”. For Magnr, showing the world how open Bitcoin banking and financial services can be, is a revolutionary step towards radical transparency across the industry. This is one of the core values set out in our company’s vision and drives a key part of our day-to-day activities.
Early 2016 has also marked new territory for us, with our CEO Colin Kwan being appointed Director of the UK Digital Currency Association.
The UKDCA vision is to establish the UK as a prominent location for the development of businesses and services built on digital currency technologies. Its mission is to promote digital currency technologies through education, lobbying and public forums. To learn more, visit UKDCA.
To read more about Colin’s unique insight into the world of banking services check out ‘Centralised vs Decentralised Banking’.
To round up, on behalf of the team, I’d like to thank all of our clients for their continued support. As 2016 unfolds, we plan to deliver more new innovative products and services. As always, we would love to hear from you and welcome feedback. Feel free to email us on – [email protected]
Magnr in 2016
In Q1, our development team has been working hard on expanding Magnr’s back-office infrastructure. This helps ensure a seamless experience across our industry leading product verticals Magnr Trading and Magnr Savings, all while ensuring that security is never compromised.
By popular request, the Magnr Trading API was released to production recently and is available to everyone. To automate your trading algorithms and to learn more about the service check out our API Documentation by clicking here.
Schedule of Rates and Fees – updates
We have reduced our Daily Funding Fee on Magnr Trading by 50% from 0.30% per 24 hour period to 0.15%. Here is a summary of our Fee Schedule Updates-
Fixed Annual Interest Rate: 2.35% AER
Guaranteed fixed Annual Equivalent Rate until July 30th, 2016.
Interest is awarded on a monthly compounded basis, on a deposit limit of 100 BTC.
There are no penalties for making Savings withdrawals before the end of the month.
Simply earn interest on your funded balance.
Trade Open Fee: 0.45% of position size (unchanged)
Trade Close Fee: 0.45% of position size (unchanged)
Daily Funding Fee: 0.15% (reduced from 0.30%)
Volatility Multiplier: 15% (reduced from 20%)
Note: there is no Daily Funding Fee charged during the first 24 hours a trade is open
To visit your Magnr Savings or Trading account, click here.
Investing in Bitcoin
With global financial uncertainty a hot topic in London, our lunchtime discussions often focus on asset-wealth safe-havens, and which ones investors should be considering.
Whether you are looking for a hedge against the Unicorns of Silicon Valley, or an FX alternative against a falling Sterling – fuelled by EU and Brexit uncertainty, our natural bias is to tell investors to at least consider digital assets.
With assets such as Bitcoin or Ethereum, these are isolated from traditional world markets, allowing investors to neutralise their portfolio’s risk-adjusted return on investments.
Do you know about our Help Center?
Our Help Center and Knowledge Base provides further support information about our services and products. From here you can access many Magnr Trading and Magnr Savings articles that will help you on your way to trade and save more effectively.