Bexplus Exchange Has Launched Interest-Bearing Bitcoin Deposit Service

by Hellen
4 years ago

Bexplus, an old player in the marginal crypto trading, presented its new lending feature: interest-bearing BTC Wallet. A new service from Hong Kong company offers one of the most profitable rates in the industry: depending on the deposit amount, the annual interest rate can be up to 30%.

The new service is independent of the platform’s trading block: crypto in the savings account won’t be calculated as margin, so the assets in the Wallet will be intact even if there are open positions in Bexplus trading account.

The interest rates differ depending on the amount of original investment, it can vary from 18% to 30%, see the conditions in full below:

The monthly interest is based on this formula: (S*I/365*30)=MI, where S is a sum of the deposit, I is an interest and MI stands for monthly interest. So, in case if you’d deposit 10 BTC, your monthly income will be equal to (10*30%/365*30)=0.24 BTC.

The interest is calculated each month and delivered on the first day of each month. Nevertheless, it’s always possible to withdraw the funds anytime and still receive the interest for the days when the funds were on the balance.

The deposit management is accessible via Wallet page: traders can check the total interest received (Cumulative revenue), the interest to be paid next month (Unsettled revenue) and the interest calculated 1 day before (this happens due to D+1 calculation formula where «D» is the natural day when bitcoins were deposited.)

Some features of Bexplus BTC Wallet:

High annual interest (APR). The annual interest offered by Bexplus looks very attractive compared to the rates from competitors: while Bexplus’s minimum interest is 18%, while most services offer just 4-10%.

Fast withdrawal and no penalties for early withdrawal. Bexplus allows withdrawal at any time and manages all the requests within 1 day. No penalties for early withdrawal used: investors are able to take their coins if they’d change the mind (and still receive the interest).

Low minimum deposit amount. Investors can make a deposit starting from 0.05 BTC. Most lending platforms limit minimal amounts to 1 BTC.

Two-factor authentication and cold storage. Most of the bitcoins are stored in an offline storage system (cold storage), while only a small amount is kept in the hot storage. The platform uses multiple signature access, all the transactions are performed manually by several staff members.

Quick access to trading. Still, Bexplus mainly is a trading platform, so if you want to trade your stored BTC — transaction to the trading account is instant and has no commission fee.

Fast and simple, no KYC requirements. Your interest starts to calculate the next day after you made a deposit. It’s simple to make a deposit and doesn’t require KYC.

Bexplus is a Hong Kong-based company providing traders with outstanding crypto trading services since 2018. The platform offers secure trading solutions and such features as a trading simulator, quick withdrawal, and various activities. Among the traded cryptos are bitcoin, ether, lite coin, and many more.