CoinEx Offering Double Yields on Financing Accounts

CoinEx Offering Double Yields on Financing Accounts

To celebrate the latest addition to their service and the upcoming Mid-Autumn Festival, CoinEx will offer users the chance to gain double yields.

Earlier this week, financing accounts went live on CoinEx, which enables users the ability to accumulate interest on any funds they store within such an account based on their borrowed from their margin trading service. For the next week, these funds will now earn double the amounts of interest for contributing to their financing accounts with this latest promotion.

When users contribute to their financing accounts, the regular interest rate will be noted, then three days later, they will be paid out with the extra funds on top as part of the promotion. CoinEx have provided the following example to elaborate on how the promotion can benefit you;

 “User A deposits 10,000 USDT to the financing account at 16:00 on Sep 8, and the 7-day annualized return is 9.563%. Then the yield of that day is: 10000*9.563%/365=2.62USDT which will be settled on the second day, and the rewarded interest 2.62 USDT will be allocated to the users’ spot accounts within 3 business days after the event is finished.”

Currently, due to the limited options available with Financing Accounts, only Tether (USDT) will be available for users to make use of the promotion. As long as users deposit before the end of the promotion at 23:59 on September 14, 2019 (UTC), they will be able to benefit from the extended yields. Users with sub-accounts though will not be able to benefit, while dishonest behaviours can also lead to exclusion from the event.

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