1. Earn Feature Basics
Q: What is the Earn feature?
A: Earn is a feature provided by RedotPay Panama for growing your crypto holdings. Users can generate returns by depositing their digital assets for flexible periods of time. The rewards generated can be withdrawn or used for daily expenses.
Q: What are the benefits of the Earn feature?
A: The Earn feature allows users to grow their crypto assets steadily with low risk.
Q: What can I do with the Earn feature?
A: Users can subscribe, redeem, spend, check your rewards, and more. The balance can be used in your daily transaction and more.
Q: Which cryptocurrencies can I use with Earn?
A: Currently, only USDC and USDT are supported right now. More cryptocurrencies will be added soon!
2. Using Your Earn Funds
Q: Are there subscription or redemption limits?
A:
Subscription: The first subscription threshold is 100 USDT/USDC or more, with no limits for subsequent subscriptions.
Redemption: No limits.
Q: What are confirmed funds?
A: When you subscribe your digital assets to Earn, it’s “unconfirmed” until midnight (UTC+8). When it becomes “confirmed”, your subscribed assets start generating rewards. If you spend from Earn, unconfirmed funds are used first, but confirmed funds still accure rewards on the day you spend.
Q: Can I spend my Earn balance?
A: Yes! You can spend both unconfirmed and confirmed funds with your RedotPay Card (e.g., for shopping or online purchases). Here’s how it works:
Unconfirmed funds are used first.
If those run out, confirmed funds are used.
Example:
Suppose you added 500 USDC yesterday at 6:00 PM and 300 USDC today at 10:00 AM. At 2:00 PM today, you spend 400 USD:
Your balance before spending: 500 USDC (confirmed, generates rewards) + 300 USDC (unconfirmed, isn't generating rewards yet).
Spending 400 USD: First, 300 USDC (unconfirmed) is used, then 100 USDC (confirmed) is used. The 100 USDC will not earn rewards today, while the remaining 400 USDC still earn rewards.
3. How Earn Rewards Work
Q: When do I start generating rewards?
A: Your rewards start the day after your subscription, once they’re confirmed at midnight (UTC+8). They’re added to your Earn balance the next day at midnight.
Q: How are rewards calculated?
A:
Daily Rewards: Your confirmed funds earn rewards based on the formula: Daily reward = Confirmed funds × Annual interest rate ÷ 365.
When You Get Them: Rewards from the previous day are added to your balance daily at midnight (UTC+8).
Keep Earning: Rewards are added to your confirmed funds, growing your balance every day!
Q: Is the interest rate the same as the 7-Day APY shown when I subscribe?
A: No, the interest rate can change based on market conditions. Refer to the accural date's interest rate for clarity.
Q: Why don’t I see my rewards sometimes?
A: You might not see your rewards if:
It’s been less than two days since you subscribed your assets.
You’ve spent all your unconfirmed funds (they don’t earn rewards yet).
Q: Do I earn rewards on weekends or holidays?
A: Yes! Rewards are calculated every day, including weekends and holidays.
4. Risks and Security
Q: Is the Earn feature risky? Are my assets protected?
A: The Earn feature isn’t a bank deposit, so it’s not covered by deposit insurance. Your assets are generally secure, but its value could fluctuate in extreme market conditions.
Q: How are my assets protected?
A: We monitor your funds 24/7 to give you peace of mind.