Dear Toobit users,
We are pleased to introduce you to a new Toobit service: Earn. This new Earn function will provide you with more investment and financial management choices, helping you achieve financial goals and increase wealth. We at Toobit will continue to strive to provide more high-quality services and hope that you can actively participate and enjoy our financial management function. Thank you for your constant trust and support!
Toobit's first phase of earn products with an annualized return of up to 100% will be launched on January 24, 2025 at 6:00 AM (UTC).
This round of Toobit Earn will include USDT fixed-term earn products with a lock-up period of 7 days.
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7 Days: 100% APR
For example: A user subscribes to a 100 USDT fixed-term earn product with a lock-up period of 7 days. After the product expires, the interest received by the user is 100 * 100% /365*7 = 1.91780822 USDT.
What is Toobit Earn?
Toobit earn is a digital asset wealth management product launched by the Toobit platform. It provides two options: fixed-term and current. It supports multiple popular currencies, and helps users easily earn stable incomes. The operation is simple and safe, thus allowing your digital assets to appreciate at a good rate.
What is a Fixed Earning?
Fixed Earning is a Toobit Earn product that helps you earn higher interest in your idle crypto assets. Upon maturity, the funds will be automatically redeemed, and both principal and interest will be credited to your spot account.
How does Fixed Earning work?
Interest Calculation Rules for Fixed Earnings:
The interest for Fixed Earning products is estimated by distributing the total earnings after maturity across each day. This amount is then reflected in the valuation of your Earn account.
Example: User A successfully subscribes to the product at 2024-12-11 11:34 (UTC).
- Interest Accrual Start Time: 2024-12-12 00:00（UTC).
- First Interest Distribution: 2024-12-13 00:00（UTC).
Redemption Rules
Fixed-term products will be automatically redeemed at maturity, with both principal and interest credited to the spot account.
Early Redemption Rules
Early redemption will deduct any accrued interest, and funds will be credited within 48 to 72 hours. Once confirmed, the redemption cannot be reversed. Early redemption is only available for certain fixed-term products. Please refer to the product details for specific rules.
What does APR mean in Earn products?
APR (Annual Percentage Rate) is the annualized return rate of a financial product, calculated by extrapolating the product's expected return over the course of one year.
When will my funds be deducted after depositing into the Earn product?
Users' funds will be transferred from the spot account to the Toobit Earn account on the deposit day, with no effect on the total account balance. Users can view their Toobit Earn account assets at any time.
Where can I view my purchased products?
In your Earn Account, select a product type to view all the products you have purchased, along with details such as the currency, estimated annualized interest rate, accumulated earnings, and more.
What are the rules of product subscription?
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All Toobit users can participate in product subscription.
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The total amount of this USDT subscription is 250,000 USDT ;
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The minimum subscription limit is 5 USDT ;
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Individual hardcap is 500 USDT ;
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Please note that not all fixed earning products support early redemption. Please refer to the instructions of the selected product for specific rules. For regular products that support early redemption, the interest paid will be deducted.
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The final interpretation right of regular financial activities belongs to Toobit.
*For App users, please update to the latest version to access the Earn function.
We hope that this information helps you understand our new product better. Toobit will continue to provide you with better products and better service!
Team Toobit
25.01.24
Find us on:
Discord:https://dsc.gg/toobit
Telegram:https://t.me/Toobit_EN
Twitter:https://twitter.com/Toobit_official
YouTube:https://www.youtube.com/@Toobit_official
Reddit:https://www.reddit.com/r/toobit/
Facebook:https://www.facebook.com/toobitofficial
Medium:https://medium.com/toobit-exchange
Toobit reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reason without prior notice.
Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Toobit is not liable for any losses that might arise from your use of Margin. This information should not be regarded as financial or investment advice. For more information, see our Terms of Use and Risk Warning.