Vircurex now offers interest on Bitcoin, Litecoin and Peercoin balances

pontiacg5

sr. member

Activity: 364

Merit: 250

Quote from: wontonforevuh on January 09, 2014, 12:03:06 AM

Quote from: tangle on January 08, 2014, 11:35:55 PM

Earned trade fees are their earnings from all trades, not just yours. You don't have to trade, just hold 1BTC or more in your account.
Did anyone receive interest? How much am I gonna get from 1BTC?

oh ok, i got it now. thats interesting, but i dont have any idea how much they earn on trade fees per day.

They total up the profit they made from trade fees, take off 15% and divide it between account holders based on the size of their wallets.

So it depends on the volume of the day, your account balance, and every other account's balance as well.

wontonforevuh

member

Activity: 266

Merit: 10

Quote from: tangle on January 08, 2014, 11:35:55 PM

Earned trade fees are their earnings from all trades, not just yours. You don't have to trade, just hold 1BTC or more in your account.
Did anyone receive interest? How much am I gonna get from 1BTC?

oh ok, i got it now. thats interesting, but i dont have any idea how much they earn on trade fees per day.

defosp

newbie

Activity: 43

Merit: 0

Why not introduce a reduced Commission for holders of more than 1 BTC ....

Oztwinpeaks

full member

Activity: 133

Merit: 100

Interesting move, not bad considering the rate that fee share stocks like Cryptsy are currently trading for- a 15% fee share return is fairly decent. I wonder what their daily trading profit is?
Of course, you've got withdrawal fees to consider as well as the safety of having large amounts of coin on an exchange (personally, I have 90% of my coins in wallets and will continue to do so).

tangle

full member

Activity: 168

Merit: 100

Earned trade fees are their earnings from all trades, not just yours. You don't have to trade, just hold 1BTC or more in your account.
Did anyone receive interest? How much am I gonna get from 1BTC?

wontonforevuh

member

Activity: 266

Merit: 10

Just saw it on their page today.

Earn interests on Deposits
You can now earn interest on your deposits. Every 6 hours we will pay out 15% of the earned trade fees to account holders who hold at least 1 BTC, 100 LTC or 400 PPC respectively. The amounts will be paid out proportionally to the total account balance. We take a snapshot every 6 hours and pay out based on the account balance at that point in time. We reserver the right change the schedule without prior announcement.
This feature is currently limited to BTC, LTC and PPC; for the next 3 months. Should sufficient interest be shown, we may extend it to other coins as well as extend the time frame.

Anyone know what they mean by earned trade fees? Do we have to be active traders in order to get the interest?

Topic: Vircurex now offers interest on Bitcoin, Litecoin and Peercoin balances (Read 535 times)