Bitget Flexible Savings User Guide
Bitget
2022-06-24 03:40
Read our guide below and start saving today!
Bitget Savings: a step-by-step guide
1. On the Bitget homepage, click “More” on the navigation bar, then click “Savings” to visit the Savings page.
2. Scroll down to view the available Savings products. Choose the asset you want to start saving with and click “Subscribe”.
3. On the confirmation pop-up, enter the subscription amount and click “Confirm” to proceed with the purchase.
When you subscribe to a Flexible Savings product, funds will be deducted directly from your Spot account. You will start receiving daily interest payments in your Spot account within two days.
If you don’t have sufficient funds for the purchase, click “Buy” to purchase assets on the Bitget Spot market, or “Deposit” to transfer more assets into your Spot account.
Example: USDT subscription
4. After confirmation, you can view and manage your Savings orders by going to the navigation bar: “Assets”＞ “Orders”＞ “Earn Orders”, or click “My Subscription” on the Savings page.
Here, you can check out the details of your Savings subscriptions. If you wish to redeem funds, choose the product you want to return to your Spot account and click “Redeem”.
On the pop-up confirmation page, enter the redemption amount and click “Confirm” to redeem your funds. Your funds will be returned to your Spot account shortly after.
To view your order list and interest history, go to “Assets” ＞ “Financial Record” ＞ “Earn Orders”.
FAQ
What is Flexible Savings?
Flexible Savings is a financial product that allows you to deposit crypto and earn interest every day. It’s ‘flexible’ because you can redeem your assets at any time.
How does Flexible Savings work?
When you subscribe to a Flexible Savings product, funds will be deducted directly from your Spot account. You will start receiving daily interest payments in your Spot account within two days.
How is the estimated daily interest calculated?
Est. Daily Interest = Subscription Amount x Est. APY / 365
Once you’ve subscribed to your selected asset, the interest will be calculated from the next day (or ‘D+1’, also known as the ‘value date’). The interest will be issued to your Spot account on a daily basis, with your first earnings issued one day after the value date (also known as ‘D+2’).
How is APY determined?
For Flexible Savings, the APY varies based on market conditions. It can change at any time.
Is the daily interest indicative of a compound yield?
No. If you want to compound your yield, manually subscribe your daily interest to the product.
Will I continue to receive daily interest if the product I subscribed to is ‘sold out’?
There is a quota for each product. When the quota is reached, the product is considered ‘sold out’, but users who have already subscribed to the product can continue to receive their daily interest.
Will the product stay in Flexible Savings forever?
Bitget reserves the right to remove certain products from Flexible Savings, depending on a variety of factors. Although we aim to provide only the best products for Savings, if the product is removed, users will have all their principal capital returned and daily interest can no longer be earned.
How do I redeem my funds from a Flexible Savings product?
To redeem your funds, go to "Assets" ＞ "Orders" ＞"Earn Orders", and click "Redeem" on the product you wish to redeem. Interest will cease to generate from the day you request to redeem your funds.
When can I redeem my funds?
You can redeem your funds anytime after the value date (or ‘D+1’). After the redemption request is made, the funds will be returned to your Spot account shortly after.
What is Auto-Transfer?
Auto-Transfer, when enabled, will automatically deposit the assets from your Spot account to Flexible Savings every day at 6 AM (UTC). You can toggle Auto-Transfer ‘on’ and ‘off’ from the Subscription Confirmation page.
How do I become eligible for Flexible Savings products?
You need to complete your ID verification to be eligible for Flexible Savings products. To subscribe to any given product, you need to have the minimum amount required in your Spot account.
Am I guaranteed to earn interest on Bitget Savings products even if the crypto market is on a downtrend?
Yes. Daily interest will be determined according to the APY and your subscription amount. However, the APY does vary based on market conditions.
Click here to join Bitget Flexible Savings.
Disclaimer
Cryptocurrencies are subject to high market risk and volatility, despite high growth potential. Users are strongly advised to do their own research and invest at their own risk.
Thank you for your attention and support!
Bitget team
June 24, 2022
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