Bitget’s Shark Fin product receives yield boost to record 5%
Bitget – a global cryptocurrency derivatives exchange, has announced that it is increasing the APR of its Fin Shark investment product to 5%. The update will effectively make Shark Fin the highest-yielding product, attracting investors seeking conservative approaches to profit-making and guaranteed payouts of capital and interest.
Shark Fin – a product that received its name for the similarity of its yield curve with the fin of a shark, is an instrument that is specifically designed for risk-averse investors. All principal and interest payouts within Shark Fin are guaranteed and protected, ensuring that users will receive all their funds at the predetermined date.
The new 5% APR is a far cry from the basic 1 to 2% that had been applicable earlier, making the product highly attractive for traders who had been clamoring for similar solutions. Users can expect to receive 5% interest after the expiration of a seven-day lockup period, while investors willing to take on higher risk levels can achieve as much as 24% in APR. The level of APR will depend on the price behavior of the underlying asset, trimming interest in case of high price fluctuations within the subscription period.
“We are excited to announce the latest upgrade to our Shark Fin product, which is aimed at meeting the increasing demand from traders for high-yield investment options in the crypto market, and improving the overall profitability of investing. With Shark Fin, users can now access even higher basic APR, enabling them to maximize their returns on investment”, as the launch of the update was commented by Bitget Managing Director Gracy Chen.
Bitget has already launched similar products in the recent past, which have received recognition from traders and investors alike. The most recent is the Dual-Investment financial product, which allows users to make sale and purchase operations with two types of cryptocurrencies. Users can then set a target price for a predetermined date and receive profits depending on the price dynamics of the selected asset pair.
The Bitget exchange has been aggressively implementing a new outreach strategy dubbed ‘Go beyond derivative’, which pursues the goal of diversifying its product and service lineup for a broader audience of users from the traditional and cryptocurrency industries. By combining the best features of CeFi and DeFi, the exchange is promoting crypto adoption and is giving users new investment opportunities.