The BitMart 8 loans phase is available at 9:00 AM on April 27, 2020 (EDT).
Loan phase BitMart 8 offers 15-day / 30-day basic financial products in USDT and BMX. In addition, the selected CCTN financial product will be jointly introduced by BitMart and Connectchain Token (CCTN) . Check the product list below for details.
For example, user A has subscribed to 500,000 BMX with a 30-day block period. According to the above list, after product maturation, the percentage obtained by user A is 500,000 * 10% * 30/365 = 4 109.589041 BMX.
What is a BitMart loan?
BitMart loans are a financial product based on digital resources. Each project has an appropriate investment period and profitability. After subscription, the funds will be blocked and interest will be accrued according to the set time. After the product has matured, the principal and interest will be unblocked and transferred to the user's wallet on the day of redemption.
How to use BitMart loans?
- Each project will have a subscription period, and users can subscribe during this period with a limited number, first come, first served.
- When subscribing, make sure your account has sufficient funds. Their system will calculate interest on the expected return after redemption in accordance with the subscription amount.
- After a successful subscription, the system will change the status of the account resources from available to blocked. Users can check the detailed information about resources stored on their resources page.
- Once the product has matured, it will be automatically bought out and the return on capital and investment will be paid once. Users can check the balance on the list of assets, and income will be notified by SMS or email after distribution. Users can also check this in their distribution records.
Explanation of terminology
- Annual interest rate: the annual interest rate refers to the rate of return obtained in one investment year;
- Subscription cycle: the period from the beginning of the subscription to the end of the subscription. If the subscription period does not end, the product will not be calculated for accruing interest;
- Cycle: the cycle refers to the time when their assets are blocked. During this period, the fund is blocked and you cannot trade or withdraw it;
- Total amount / Total subscription amount : refers to the total amount of financial products spent;
- Time for accruing interest: time for accruing interest (return) after subscription;
- Expected Revenue: Expected Revenue is revenue based on known information if no unexpected events occurred. The platform calculates the income formula with the subscription amount * annual interest rate * block days / 365 days a week.
- Maturity date: the end date of the investment product when the return automatically returns to the available balance.
Please note this ...
- Only registered BitMart users can subscribe to products.
- Two phases of BitMart loans will be available for each month.
- In phase 8, basic USDT, BMX and CCTN loans will be provided. Users will receive 48 hours for subscription. The user has a choice of three blocking periods: USDT-15d, BMX-30d and CCTN-20d.
- In Phase 8, the total available USDT-15d and BMX-30d subscription volumes are USD 40,000 and BMX 5,000,000. In addition, the total available CCTN-20d subscription volumes are 6,000,000 CCTN.
- BitMart reserves all rights to final clarification.
More phases of BitMart loans and new products coming soon.