BY MARTIN YOUNG
There are a number of costs associated with using bitcoin and while it is still far cheaper than using traditional banks, they still need to be accounted for. Storage of the digital asset also has a cost and it has been rising.
BITCOIN STORAGE COSTS ESCALATING
At the moment most people use centralized exchanges which profit from transaction fees and spreads as banks do. However, there is also a cost for storing BTC which has jumped over the past couple of years.
Independent bitcoin developer Tamas Blummer has summarized these often overlooked expenses in a recent Medium. The cost is known as a ‘carry for other assets’ and according to the post is currently at 2.1% per annum for BTC.