BitVez Savings

Flexible Savings is a product that pays interest on cryptocurrencies deposited while allowing the funds to be withdrawn at any time.

Fixed Savings is a product that pays interest on cryptocurrencies, but unlike Flexible Savings, it has pre-set durations. Funds must remain in the account for fixed terms in order to earn the stated interest.

Subscription time is the time when you subscribe to an earning product.
Interest accrual time is the time when your earning product will start to accrue interest.
Redemption time is the time when you redeem your funds from your earning product.

For Flexible savings:
Total Interest = Amount Subscribed * (APY/365/24) * Duration in Hours
For Fixed savings:
Total Interest = Amount Subscribed * (APY/365) * Duration in Days

For Flexible Savings, interest starts to be accrued from the next hour after the subscription and will be automatically rolled over in your product.
*For example, if user A subscribes to BTC Flexible Savings product by 0.1 BTC at September 26 03:30 UTC, his interest starts to accrue from September 26 04:00 UTC.
For Fixed Savings, total interest is calculated based on the pre-set duration and will be distributed together with the principal to your spot wallet within 2 hours after 04:00 UTC on the next date following the pre-set redemption date.
*For example, if user B subscribes to one lot of the 7-day BTC Fixed Savings product on September 20 UTC, he will receive the principal and the total interest in his spot wallet between 04:00 and 06:00 on Sep 28 UTC.

Click on “Assets” to view the page presenting all your assets, click on “Earn” to view your subscriptions, and click on “Redeem” under the “Action” tab for the product you wish to redeem.

Upon subscription, BitVez will deduct the funds for the subscription from your spot wallet and transfer it to your earnings account.

For Flexible Savings, you can redeem your principal anytime. The principal and interest will be transferred to your spot wallet immediately after redemption. For Fixed Savings, you cannot redeem your funds before the pre-set redemption date. Your funds will be redeemed automatically on that date, and both principal and interest will be paid to your spot wallet.