There are two types of savings products available on Pexpay Savings: Fixed Savings and Flexible Savings.
Fixed Savings locks your funds for a predetermined amount of time and rate of interest. In contrast, Flexible Savings lets you withdraw your deposited funds at any time. The interest rate, however, does change over time. Since you have a degree of flexibility to access your funds, the interest rates will subsequently be lower for anyone who chooses Flexible Savings products.
How to Use Pexpay Flexible Savings?
- Log in to your Pexpay account and click [Savings].
You will find [Flexible Savings] and [Fixed Savings] on this page. To view all Flexible Savings products, click [Show more].
- Click the [Subscribe] button where a second confirmation on subscription information will appear.
Meanwhile, please ensure that you have sufficient assets available in your Spot Wallet. These funds cannot be in open orders and must be accessible.
Once you have entered the lot amount, the system will automatically calculate the expected interest after redemption.
Subscription information:
- Deposit: the total amount to be subscribed
- Subscription date: date of your subscription
- Value date: the date on which the interest starts to be calculated
- Interest Distribution Date: date and time the earned interests start to be distributed
- Minimum: individual lowest subscription amount
- Available Quota: individual subscription ceiling
- Est. Interest Earned: reference annualized interest rate earned based on a historical annualized return
- After your purchase confirmation, the system will transfer your subscribed assets from your Spot Wallet to Earn account. You can review your subscription by clicking the [Account] button on the Pexpay Savings page.
- To redeem your funds, Click [Wallet] -> [Earn].
- Click [Redeem] on the asset you wish to cash out. Your principal and interest will be credited at once, you can check the fund balance in the fund list.
- Enter the redemption amount and select the redemption method to redeem.
How to use Pexpay Fixed Savings?
- Log in to your Pexpay account and click [Savings]. Scroll down to find Fixed Savings
To view all Fixed Savings products, click [Show more].
- Click the [Subscribe] button where a second confirmation on subscription information will appear.
Meanwhile, please ensure that you have sufficient assets available in your Spot Wallet. These funds cannot be in open orders and must be accessible.
Once you have entered the lot amount, the system will automatically calculate the expected interest after redemption.
- Duration: number of days the cryptocurrency will be locked. A longer duration will provide higher APY interest.
- Sold out: Fixed Savings product’s availability depends on the number of lots that have been deposited. You are advised to keep a look out for the saving’s availability regularly as it depends on the market’s overall demand and supply
- Lot Size: Number of cryptocurrencies required for deposit
- Interest Per Lot: Interest rate calculated based on Lot Size
- Subscription date: date of your subscription
- Value date: the date on which the interest starts to be calculated
- Redemption date: Your fixed savings will be automatically redeemed on the redemption date and returned to your Spot Wallet along with interest.
- After your purchase confirmation, the system will transfer your subscribed assets from your Spot Wallet to Earn account. You can review your subscription by clicking the [Account] button on the Pexpay Savings page.
- To redeem your funds, Click [Wallet] -> [Earn].
- Click [Redeem] on the asset you wish to cash out. With [Standard Redemption], your principal and interest will be credited at once, you can check the fund balance in the fund list.
There are two ways to redeem your fixed savings before the actual Value Date
- Fast Redemption: However, no interest will be credited since it has not reached the Value Date.
- Transfer Assets from Fixed Savings to Flexible Savings
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Pexpay takes compliance obligations seriously and strictly complies with the relevant requirements of local regulatory bodies. Please ascertain whether you are permitted to the service based on the legal requirements in your country of residence.