Any Bsave.io savers around here?

[vm_mpn]

Supposedly you can connect your Coinbase account and start earning interest (currently 3.6%) on your stagnant bitcoins... I'm scared like hell to even attempt it. If anybody uses them already post your experience please.

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[jacktheking]

Should be moved to Service Discussion.

I have never heard of this site. Did a Google search and found this two presses, https://www.cryptocoinsnews.com/bsave-io-gains-400000-investment-announces-coinbase-linked-bitcoin-savings-account/ and http://www.prnewswire.com/news-releases/bsave-to-launch-next-generation-of-bitcoin-savings-after-400000-seed-investment-300163142.html. If it is a news from CryptoCoinNews, it can be somewhat real. Having 400 000 (USD ?) fund raised, I believe that this is going to be a big thing.

However, I cannot find any other information. Hence, I would suggest you to wait for a few days and hear from other people before investing in them.

[7788bitcoin]

Personally I am not interested in letting others to hold my coins for long term, even if there is a significant amount of interest in return.

I use bitcoin because I believe I might not need a "banking" service in future.

[HabBear]

3.6% over what time frame? Anything shorter than annually and it's a ponzi scheme. SO my suggestion is to stay away from it. It's  even scary that Coinbase would welcome or partner with their service (if that return is for anything shorter than a year).

[NorrisK]

So how exactly are you connecting your coinbase account? Anybody can write a script to connect public keys to their service, so I suppose you are handing them over control of your coins?

Who in their right mind would even consider that for 3,6% interest? Atleast this is a realistic value, compared to people expecting 10% on their coins.

[Quickseller]

It is difficult to determine just how safe your BTC would be on Bsave.io although you most likely would be able to earn significantly more interest on bitfinex by lending out your btc there, which I would personally consider to be safe, at least among the various exchanges

[tobacco123]

Bitcoin is trustless and Bsave.io seems to require tons of trust. Not going to work well.

[crazyivan]

3.6% on BTC savings deposit is nothing. You can make much more using other services like Pacmic or HalleyBTC.

[Amph]

3.6% on BTC savings deposit is nothing. You can make much more using other services like Pacmic or HalleyBTC.

one is a contract mining, the other is a scam site, since none is giving you 15% for 30 day out of nothing

and the usual "we are trading with your coins to make more coins" it's the worst bullshit out there

[Kprawn]

"Service is Temporary down ..."  I guess they were overwhelmed by the 5 visitors to their site at the same time.  .... Something I have learned from my time in

Bitcoin and other speculative investments is this... If it sounds to good to be true, it probably is a Ponzi.  The partnership with Coinbase gives it a bit more legitimacy, but

the risk is that Coinbase is not fully aware or sure what it is too and they have not had any complaints or reasons to doubt them. 

[n2004al]

Try to learn the relations they have with Coinbase asking to their support. If are partners or something like that (so not simple users of Coinbase to do their business) may be something interesting and to be taken in consideration. If Coinbase serve to them like do with every other merchant then I would be think twice before join their site without having some proofs. You can ask Coinbase even what them thought about this kind of service and if them can cover your bitcoins if are lost in this kind of business which use Coinbase to have the coins of its clients in order to do their business. Coinbase is responsible in some way for this probable loss because give its name to a business which use the coins hold by this wallet. Than judge after having this answer.

[franky1]

Try to learn the relations they have with Coinbase asking to their support. If are partners or something like that (so not simple users of Coinbase to do their business) may be something interesting and to be taken in consideration. If Coinbase serve to them like do with every other merchant then I would be think twice before join their site without having some proofs. You can ask Coinbase even what them thought about this kind of service and if them can cover your bitcoins if are lost in this kind of business which use Coinbase to have the coins of its clients in order to do their business. Coinbase is responsible in some way for this probable loss because give its name to a business which use the coins hold by this wallet. Than judge after having this answer.

im sure that coinbase has terms and conditions that it wont insure any funds if you hand the trading keys or passwords to someone else
otherwise we should all raid our accounts and then claim a third party stole them and thus double our money

[rollin-sat]

3.6% on BTC savings deposit is nothing. You can make much more using other services like Pacmic or HalleyBTC.

3.6% on BTC savings deposit is nothing. You can make much more using other services like Pacmic or HalleyBTC.

one is a contract mining, the other is a scam site, since none is giving you 15% for 30 day out of nothing

and the usual "we are trading with your coins to make more coins" it's the worst bullshit out there

Well you can get also a double but you send money to a ponzi or a scam site!

Could be a reasonable interest for deposit, I will check again (when I got at least 0.50 BTC)

[vm_mpn]

Thanks guys... I guess it's NO GO for now, until I know more.

[Patatas]

Well,the website is coming soon and once has to enter the email address to receive early access.Don't mind,but are you trying to promote the website here ? As far as the website is concerned they haven't mentioned anything yet so very shady for now.The interest they're providing as mentioned in the OP I think if you lend your stagnant bitcoins in this forums Lending section ,you could get more interest .

[lottery248]

3.6% annual interest but unknown sources? guess what? i would believe that kind of site is a form of scam as well.
although it isn't the so-called HYIP, it still seems to be risky to join; bitcoin supply is limited so they cannot provide compounded annual interest.

[BSave.io]

Hi there!

My name is Jonathan Azeroual, I am the CEO and co-founder of BSave Limited, a UK company.
I graduated in Financial and Statistical Engineering from Paris Dauphine University and holds an MBA in Finance from ESCP Europe. I worked as a quantitative analyst, fund manager and trader in France, United States and United Kingdom. Frustrated by the limitations of the existing financial institutions I decided to co-found BSave.

We think the bitcoin ecosystem has great products. Wallets on a side, trading platforms on the other side.
BSave aims to make the bridge between the two to provide a simple, easy and hassle free saving solution, yet is the result of an extremely sophisticated automated transaction platform that tracks, reports and calculates interest earned, with up to the minute accuracy. We put hard work to create an intuitive product accessible to most with great features.

Because it is a private beta for now, here is more concrete informations about the service:

1. The interest comes from the loan margin market and paid by traders for borrowing saved bitcoin.

2. BSave is integrated to Coinbase via Coinbase APIs as a result BSave never access your password. Neither BSave will be able to debit your account without your authorization because of double factor authentication. The whole wallet architecture of BSave is provided by BitGo. We are currently working on a co-branded page with Bitgo to validate our reserve of bitcoin. Plus, we received the green light from Coinbase after testing before launching invitations.

3. Features:

-Ease of Use: BSave is the first integrated saving solution for the consumer.
-Rate: Average of 3.3% APR (so far)
-Frequency: Daily Floating Interest Payment
-Financial Penalty: none (paid the exact time you saved, each minute is taken into account)
-Fair rewarding system: Daily interest paid are calculated using sophisticated mathematical models and reflect both your time weighted average balance and the floating rate paid by the market

We decided to start with a private Beta on invitations because:

1) You have only one chance to make a first good impression.

2) We care about user experience, because there are no explanation or FAQ, our beta testers are focused on the product, we want to perceive their first impression and feelings.

Some beta testers are using BSave since 2 month and we have received positive feedback so far.

The BSave will attend two major conferences in January. The CES in Vegas and the North American Bitcoin Conference in Miami as a sponsor (btcmiami.com).

We would love to get in touch with you. To organize a meeting, please contact us at hello@bsave.io.

Best regards

[unamis76]

Supposedly you can connect your Coinbase account and start earning interest (currently 3.6%) on your stagnant bitcoins...

Interest on my Bitcoins? Well, if they're on an exchange they're not really mine

No way... Very skeptical with all of this.

[vm_mpn]

1. The interest comes from the loan margin market and paid by traders for borrowing saved bitcoin.

Is it private lending or you are working with known exchange?

[khalized]

in this last weeks I see a lot of "interest payed" btc sites. From magnr.com to ore mine, cloud mining and so on.
This site is correlate to coinbase? or they use only the name without any connection?
I think could be trustable, otherwise the % of interest is not to high