The interest you’ll earn on the crypto in your Savings wallet is a targeted interest rate, but it’s variable - meaning it can change - depending on market conditions. Interest is earned and paid in crypto, which means your crypto balance keeps growing.
Market conditions? What does that mean?
Good question! The crypto transferred into your Savings 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 interest rate on the crypto balance in your Savings wallet - calculated daily and paid monthly in crypto.
BTC Savings wallet - A targeted 4% interest in BTC per annum
ETH Savings wallet - A targeted 4% interest in ETH per annum
USDC Savings wallet - A targeted 7.6% interest in USDC per annum
The interest is variable, which means it could be more than the targeted rate, 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 in crypto.
The value of the crypto in your Savings wallet is still subject to increases or decreases in the price of that crypto.
When do I get paid?
The interest earned will be paid (added) to your Savings wallet balance on the 1st day of every month. The interest paid will show as a transaction on your Savings wallet transaction history.
Where do I see how much interest I’ve earned?
As soon as your interest is paid (added) to your Savings wallet, it will display as a transaction in the transaction list on the wallet main screen. The interest paid will display in cryptocurrency (as well as 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 Savings wallet main screen.
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.
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.
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 Savings wallet main screen.
What happens to the interest that I’ve earned when I transfer funds out?
While your savings wallet is intended for long-term investing, the interest you’ve earned is yours, to do with as you please. You can transfer the crypto in your Savings wallet - including the interest you’ve been paid - out to your equivalent crypto wallet, at any time. There are no penalties or hidden costs when transferring out of a Savings wallet.
If you transfer crypto out during any month, you’ll still earn interest at the variable daily rate on that crypto for the period that it was in your Savings wallet. So as an example, if you transfer crypto out on the 15th of the month, you’ll still earn interest on that crypto for those first 15 days of the month.
Transfers out of your Savings wallet usually complete the following day, but it could take longer. You’ll continue to earn interest on the crypto while your transfer out is in a pending state.
Not sure how to transfer out? No problem. Find out how to here.