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Binance Pool Savings FAQ

2020-09-24 09:12
1. What is Binance Pool Savings?
Pool Savings is a wealth management product dedicated to improving the income of miners by offering principal-protected floating earnings between 5% and 30% annually. Pool Savings is exclusive to members of the Binance Mining Pool community. Only users' daily Binance Pool mining earnings can be subscribed to Pool Savings, and each user can only subscribe up to 5 BTC.
2. Who is Pool Savings for?
Only miners who are members of Binance Pool are eligible to participate. Only users' daily Binance Pool mining earnings can be subscribed to Pool Savings. Exchange users can take advantage of Binance Savings, as well as our other wealth management services.
3. How do I participate in Pool Savings?
Click on Binance Pool under the Finance tab. On the Binance Pool page, click Pool Savings. Next, select the sub-account you would like to use. Once you're signed up, you can participate in Pool Savings.
4. How do I check my interest and subscription history?
Go to Finance --> Binance Pool --> Pool Savings to view your interest and subscription history.
5. Are my interest earnings principal-protected?
Pool Savings is a principal-protected flexible wealth management product. The current interest rate is displayed on the page each day.
6. How is the interest cycle calculated? How long will it take to redeem my assets?
With Pool Savings, you'll start earning interest right away the day you make your deposit. Interest is calculated by the day, from 00:00 on the current day to 00:00 the next day (UTC). You will not earn interest for the day you redeem your assets, as redemptions are issued the following day.
Example: User A subscribes to a Pool Savings product between 00:00 January 1 (UTC) and 00:00 January 2 (UTC). On January 2, they'll receive interest earned for January 1, and they'll receive interest earned for the previous day on a succeeding day. User A redeems their assets between 00:00 January 5 (UTC) and 00:00 January 6 (UTC). They'll get their principal back on January 7 when payments are issued by the pool, and interest will not be calculated for January 6.
Interest is issued at the same time payments are issued by the mining pool. Funds will land in your account between 01:00 - 08:00 (UTC), usually around 15:00.
7. Can interest be calculated continuously?
Earnings are calculated using the compound interest method. Part of the interest issued each day is regarded as the principal and begins earning interest.