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Bexplus Wallet FAQ

2019-07-16 14:27:22

Common FAQ about Bexplus bitcoin wallet.

1. What about wallet security?

Most of the users' cryptocurrencies (bitcoin) are stored in our offline storage system (cold storage). Only a small percentage of cryptocurrencies are stored in the hot wallet.

The platform uses multiple signature access to both protect against attacks and access to keys loss or facilities, eliminating single point of failure. All funds transferred from cold storage to hot wallet are manually processed and require multiple staffs to coordinate.


2. What are the differences between trading account and wallet account?

"Wallet" is only used for bitcoin storage,transferring to trading account or withdrawal, but not for trading. The revenue of the Bitcoin deposited in the wallet account will be calculated on a daily basis.

If you need to trade, you can click [Export to trading account] firstly.

"Trading Account" is for trading purposes only. To transfer to the wallet, click [Transfer to wallet].


3. How do I use the wallet?

Process: Deposit-> Trading Account -> Transfer to wallet account. The BTC in the wallet can be calculated the revenue on a daily basis.


4. When does the wallet start to calculate revenue?

According to the D+1 date of GMT, D refers to the natural day of the BTC transferred into the wallet.


5. How is the revenue of the wallet calculated?

Wallet's revenue = confirmed amount X * annualized interest rate / 365.

The confirmed amount refers to the amount of the deposited BTC that satisfies (D+1) days and above.

Example: You have confirmed 365 BTC with an annualized interest rate of 30%, then your daily wallet revenue is (365*30%/365)=0.3BTC.


6. How to calculate wallet revenue?

Interest will start to be calculated when you wallet balance is 0.05 or above. 


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7. When will the revenue of the wallet be settled?

Settlement method: monthly. The system automatically calculates yesterday's revenue on a daily basis, and yesterday's earnings revenue are settled on the first day of the next month.

Note: Unsettled revenue do not count in the next day's interest, and the settled revenue are compounded.


8. Is there any fee for the transfer to/from trading account or withdraw from the wallet?

Transfer between wallet and trading account is free,and service charge for withdrawal is 0.0005 BTC.


9. What are rules of wallet transfer?

Funds in the wallet can be transferred out based on the sequence they credited in.


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