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Topic: Bitcoinica charges for open positions, pays you for storing funds on them - page 2. (Read 3021 times)

vip
Activity: 490
Merit: 502
You're faster than our official announcement (which will be posted later)!

It's important to know that we sometimes pay for open positions as well. For example, we pay interests for short positions at this moment.
hero member
Activity: 607
Merit: 500
Check out "Interest Rates" tab on their site:

Quote
How does interest rate affect you?
Currency account USD balance
We pay you interest every day based on USD Buy interest rate, compounded daily.

Currency account BTC balance
We pay you interest every day based on BTC Buy interest rate, compounded daily.

Long BTC/USD position
We charge you USD Sell interest, and pay you BTC Buy interest every hour.

Short BTC/USD position
We charge you BTC Sell interest, and pay you USD Buy interest every hour.

Oh, and APY means "Annual Percentage Yield".
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