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2019-06-16
 
 
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Accumulative Balance Interest

Accumulative Balance Interest

You can make your money work even without investing. By keeping funds on balance in 8bit you can get a regular weekly increment. Simply by having over $10 at your balance in any e-currency you are rewarded with a fixed daily 0.05% interest from the that amount and these daily bonuses are credited to your account balance once a week which makes this cumulative bonus 0.35% provided your balance isn't going down throughout the week.
Please note that in order to get this bonus your account balance should be over $10 in USD equivalent for each particular e-currency. For example, if you use Perfect Money, BTC and Payeer, your weekly balance interest is calculated separately for each payment method. Suppose you have at your account balance $3.5 in Perfect Money, $5 in USD equivalent in BTC and $15 in Payeer. Even though it is $23.5 total, you will get rewarded only for Payeer balance since it is the only payment method with an amount that meets the requirements for getting this Accumulative Interest.

How the balance interest is calculated?

Suppose you have $10000 in Payeer at your account balance and throughout the week this amount stays the same. Every day of the week you are eligible to get 0.05% from that amount as an accumulative interest, which is $5, provided that your daily balance doesn't drop below the minimum required amount which makes this cumulative bonus equal 0.35% for the entire week. Thus, at the end of the week you are rewarded with $35 as a total of 7 bonuses of $5 for every day of the week.
However, if your daily account balance was going up or down during this week your final bonus will be calculated as a total of each individual daily bonus depending on your current balance status on a certain day of the week.



Your daily balance is assessed by our system and you are allocated certain interest every day, however the funds are credited to your balance at the end of every week. Suppose your daily account balance throughout the week was changing like this:



Day of the Week Account Balance Stats Daily Bonus
Monday $2000 $1
Tuesday $1500 $0.75
Wednesday $3000 $1.5
Thursday $10000 $5
Friday $12000 $6
Saturday $7000 $3.5
Sunday $4000 $2
Total Profit for the entire Week $19.75

Thus, at the end of every week you will be given cumulative bonus which in this case is $19.75



Keep in mind that your accumulative interest accrual depends on your balance stats throughout the entire week. For example, suppose on Monday your account balance was $104.50 and the next day you have withdrawn this $100 and on Wednesday you funded it with $200 and kept resulting amount of $204.50 until the end of week. In this case you will receive weekly balance interest only for 6 days since your account balance dropped below the required minimum of $10 on Tuesday and it was $4.50.

Minimum Amount Required for Getting Balance Interest

E-Currency Minimum Required Amount

Q & A

What is Accumulative Balance Interest? What do I need it for?
It is a regular bonus given to 8Bit users as a reward for using our system as a storage. Basically it is based on the same concept the regular banks use to express gratitude to their customers for the loyalty. Accumulative Balance Interest option is always active and it is a nice way to have an additional profit in 8bit without spending a single cent. close
How can I receive this Balance Interest?
In order to receive this bonus you have to meet basic requirements:
- you should have at your account balance an amount over $10 in USD equivalent in any e-currency
- since you are given a bonus in a specific payment method, you should have over $10 in USD equivalent at your balance in this specific e-currency. You are not eligible for the Balance Interest if your total account balance is $10, but for each separate payment method you use it is below $10 (e.g. $1 in Perfect Money, $6.50 in BTC, $0.50 in XMR and $2.20 in Payeer). Thus, if you have funds at your balance in various e-currencies and they all meet the minimum amount requirement, you will be given few bonuses separately for each particular payment method whose amount is over $10 in USD equivalent. close
How the Balance Interest is calculated and where I can see the accruals?
Every day your account balance is monitored by our system and it allocates a bonus of 0.05% from the amount of your daily account balance provided that it equals or surpasses a minimum amount required for receiving of this bonus. Then, at the end of the week all daily bonuses allocated for you are aggregated and are credited to your account balance. You can always check your Balance Interest stats in the Account History section. close
My account balance was less $10 for three days in a row. Does it mean that I cannot receive Balance Interest for this week?
No, you will receive it anyway. However, you will be given bonus only for those days when your account balance was over $10. In your case, you will receive Balance Interest for 4 days only. close
How often will I receive accruals of this accumulative interest?
Such accruals are made once a week on a Saturday night. close
According to my Balance Interest history I didn't receive a bonus for the last X day, thus I was given bonus only for 6 of 7 days of week. But I had over $10 at my account balance. How is that possible?
Such situation may occur when your individual account balance for certain payment method drops below $10 in USD equivalent which is less than minimum amount required for receiving of this bonus. You are not eligible for the Balance Interest if your total account balance is $10, but for each separate payment method you use it is below $10 (e.g. $1 in Perfect Money, $6.50 in BTC, $0.50 in XMR and $2.20 in Payeer). You are be given bonus only for those days when your account balance was over $10. In your case, you were credited a Balance Interest for 6 days only. close
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