How the Axis Interest Wallet Works
Earn up to 10% in interests for cryptocurrencies held on the Axis Option Wallet platform.
Store your bitcoin on Axis Option Wallet platform to earn up to 10% interest. There's no fixed terms, no admin fees, and all you need to do to set it up, is simply move it from your external wallet to the Axis Option Bitcoin Wallet. Easy!
How the interests are generated for cryptocurrencies held on the Axis Option Wallet platform.
We are able to offer a competitive interest rate to users who transfer and hold crypto with us. We do this by lending crypto deposits out to selected, rigorously vetted institutional and/or sophisticated borrowers who have established track records at a slightly higher rate. This rate comprises a larger portion, which is returned to you as interest, and a smaller amount which covers our operational costs and allows us to improve our products for our users.
The Axis Option interest wallet explained.
The interest you’ll earn on the funds in your Axis Option interest wallet is maximized at 10%, but it’s variable - meaning it can change - depending on market conditions.
Any funds you transfer into the Interest Wallet will begin earning interest at a compound interest rate.
Market conditions? What does that mean?
Good question! The funds transferred into your Interest wallet are lent to our chosen lending partner to generate a return. Market conditions (supply vs. demand) influence the percentage return that they generate.
THE INTEREST EXPLAINED
How much will I earn?
You’ll earn a targeted 10% per annum on the Bitcoin (BTC) balance in your Interest wallet - calculated daily and paid monthly. The interest is variable, which means it could be more than 10%, or it could be less, based on market conditions. Each day, you’ll earn interest at the variable daily rate. The sum of that daily interest is accrued for a month and then paid out once a month.
Note: The value of the BTC in your Interest wallet is still subject to increases and decreases in the price of BTC. Also, you won't earn interest if the value of your interest earned is less than the smallest divisible unit of Bitcoin, which is a Satoshi. As a guide, you'd need a minimum balance of about BTC 0.00009125 in your Interest wallet to start receiving monthly interest.
When do I get paid?
The interest earned will be paid (added) to your Interest wallet balance on the 1st day of every month. The interest paid will show as a transaction on your Interest wallet transaction history.
Where do I see how much interest I’ve earned?
As soon as your interest is paid (added) to your Interest wallet, it will display as a transaction in the transaction list on the wallet main screen. The interest paid will display in BTC (with the equivalent local currency value).
You can find more detail on your interest displayed next to Earned in [month] and Total interest earned on your Interest wallet main screen.
1. Earning in [month]: This displays the interest accrued (unpaid) month to date. This total is reset to 0 at midnight on the 1st of every month (when your interest is paid) and increments daily.
2. Total interest paid: This is the sum of the interest paid across all time. It only increments when your monthly interest earned is paid on the 1st day of every month.
Is there a way that I can calculate how much interest I will earn?
Unfortunately, not. As the interest rate is variable based on market conditions, there isn't a way to calculate exactly the amount of interest you’ll earn per annum.
Tip: However, you can see details on the interest you have earned - average interest earned, interest earned comparison to the previous month, etc. Find the detail by selecting the icon next to the interest displayed on your BTC Interest wallet main screen.
What happens to the interest that I’ve earned when I transfer funds out?
While your Interest wallet is intended for long-term investing, the interest you’ve earned is yours, to do with as you please. You can transfer the funds in your Interest wallet - including the interest you’ve been paid - out to your BTC wallet, at any time. There are no penalties or hidden costs when transferring out.
If you transfer funds out during any month, you’ll still earn interest on it at the variable daily rate for the period that those funds were in your Interest wallet.
Note: Transfers out of your Interest wallet is done similarly to that of your regular wallet as the balances are added to your wallet