PayBitoPro Earn Interest Terms & Conditions

Last Updated: 19 September 2023

1. Earn Interest

1.1 By participating in Earn Interest with PayBitoPro, you acknowledge that you have read, understood, and accepted all of the terms and conditions in these Earn Interest Terms, and you acknowledge and agree that you will be bound by and will comply with these Earn Interest Terms. If you do not understand and accept these Earn Interest Terms in their entirety, you should not participate.

1.2 By Subscribing to a Earn Interest Offer you can, in exchange for providing PayBitoPro with your Earn Interest Assets, earn Earn Interest Rewards.

2. How to participate in Earn Interest

2.1 When you provide Digital Assets to PayBitoPro for the purposes of Earn Interest, you will be prompted to agree with some or all of the following terms on the Platform:

2.1.1 the Earn Interest Rewards Rate;

2.1.2 the number of Earn Interest Assets you will use to Subscribe;

2.1.3 the Digital Currency that you will use to Subscribe;

2.1.4 whether the Earn Interest Offer is Flexible Earn Interest or Locked Earn Interest; and

2.1.5 if you subscribe to Locked Earn Interest, the Locked Earn Interest Term, and the Locked Distribution Frequency.

2.2 PayBitoPro may specify a minimum amount of Earn Interest Assets that are required to Subscribe to a Earn Interest Offer, and/or any Subscription Limits that apply.

2.3 You will not be able to Subscribe to Locked Earn Interest between 23:50 UTC and 00:10 UTC each day.

3. Flexible Earn Interest

3.1 For Flexible Earn Interest:

3.1.1 Earn Interest Rewards consist of Real-Time Rewards and Bonus Tiered Rewards, where:

3.1.1.1 Real-Time Rewards are Earn Interest Rewards that:

3.1.1.1.1 start accruing at the Real-Time Rewards Rate from the minute you Subscribe;

3.1.1.1.2 will be distributed to your Earn Interest Account the minute after it is accrued;

3.1.1.1.3 are applied each minute to the Earn Interest Assets in your Earn Interest Account;

3.1.1.1.4 are provided in the same Digital Currency as your Earn Interest Assets, unless otherwise stated; and

3.1.1.1.5 are rounded down to a number of decimal places, which may differ depending on the Digital Currency.

3.1.1.2 Bonus Tiered Rewards are Earn Interest Rewards that:

3.1.1.2.1 PayBitoPro may offer from time to time;

3.1.1.2.2 start accruing at the Bonus Tiered Rewards Rate from the day after you Subscribe. Bonus Tiered Rewards will accrue from day to day and will be calculated on the basis of the number of days elapsed in a 365-day year. You do not earn any Bonus Tiered Rewards for the first day that you Subscribe;

3.1.1.2.3 will be distributed to your Spot Account the day after it is accrued, between 00:00 UTC to 08:00 UTC. This means that Bonus Tiered Rewards will not be distributed to your Spot Account until the third day after you Subscribe; and

3.1.1.2.4 are applied each day to Earn Interest Assets held to the credit of your Earn Interest Account at 00:00 UTC, and not to Bonus Tiered Rewards;

3.1.1.2.5 will be calculated with reference to the Bonus Tiered Reward Rate on the day the Bonus Tiered Rewards accrue;

3.1.1.2.6 are provided in the same Digital Currency as your Earn Interest Assets, unless otherwise stated; and

3.1.1.2.7 are rounded down to a number of decimal places, which may differ depending on the Digital Currency.

3.1.2 The Real-Time Rewards Rate:

3.1.2.1 may vary from minute to minute; and

3.1.2.2 if it is changed, will apply from the next whole minute, and all subsequent minutes until it is updated.

3.1.3 the Bonus Tiered Rewards Rate:

3.1.3.1 may vary from time to time;

3.1.3.2 may only apply if you meet or comply with any applicable Bonus Criteria or Bonus Terms; and

3.1.3.3 if it is changed, the new Bonus Tiered Rewards Rate will apply from the time and date specified by PayBitoPro. If no time is specified, it will be 00:00 UTC on the day that PayBitoPro announces the change will take effect on the Platform.

3.1.4 Redemption:

3.1.4.1 can be requested at any time;

3.1.4.2 Bonus Tiered Rewards will not be accrued or distributed to your Spot Account for the day that you elect to Redeem. If you elect to Redeem only part of your Earn Interest Assets, you will not earn Earn Interest Rewards for the Earn Interest Assets you elected to Redeem;

3.1.4.3 your Earn Interest Assets will be returned to your Spot Account immediately; and

3.1.4.4 you will continue to accrue Real-Time Rewards until your Earn Interest Assets are returned to your Spot Account;

3.1.4.5 in some circumstances, including but not limited to events of extreme market volatility, network delays, a significant number of simultaneous instructions to Redeem from other PayBitoPro users, or there are any other unanticipated events that mean that your Redemption may be delayed;

3.1.4.6 PayBitoPro may specify a maximum number of Earn Interest Assets available for Redemption each day.

Flexible Earn Interest: Example

You Subscribe to a Earn Interest Offer for ABC Digital Assets. The Bonus Tiered Rewards Rate is 10%. The Bonus Terms are that the Bonus Tiered Rewards are applied only to a maximum of 5,000 ABC that you used to Subscribe. You Subscribe using 10,000 ABC Digital Assets to Flexible Earn Interest.

You Subscribe on a Monday at 12:00 UTC.

Real-Time Rewards

Real-Time Rewards begin to accrue immediately upon subscription to the Earn Interest Offer for ABC Digital Assets, and are accumulated in your Earn Account the next minute.

Assuming a Real-Time Rewards Rate of 2% during the first minute. The following amount is distributed to your Earn Interest Account at Monday 12:01 UTC as follows:

10,000 x (2% x 1 / 365 / 24 / 60) = 0.00038051 ABC

Bonus Tiered Rewards

You do not earn Bonus Tiered Rewards for the first day (Monday). Bonus Tiered Rewards begin to accrue on Tuesday, and are distributed to your Spot Account on Wednesday. In this example, you will earn Bonus Tiered Rewards based on a maximum of 5,000 ABC according to the Bonus Terms.

The amount distributed to your Spot Account on Wednesday is as follows:

5,000 x 10% x 1 day / 365 = 1.36986301 ABC

Redemption

You Redeem on Wednesday 12:00 UTC. From Monday at 12:00 UTC (the time you Subscribed) until you Redeemed, both the Real-Time Rewards Rate (2%) and the Bonus Tiered Rewards Rates (10%) remain unchanged.

You have accrued 2,880 minutes of Real-Time Rewards and 1 day of Bonus Tiered Rewards.

The amount you would have received in total to your Spot Account is calculated as follows:

= (10,000 x (1 + (2% x 1 / 365 / 24 / 60))^2,880 + (5,000 x 10% x 1day / 365))

= 10001.09595044 + 1.36986301 = 10002.46581345 ABC

In total you earned 2.46581345 ABC.

3.2 This example is intended to illustrate how Earn Interest Rewards is calculated. It is not intended to give any representation of the performance of particular Digital Assets nor the volatility of particular Digital Assets or the Digital Asset markets in general. The Digital Assets used in this example are completely fictional.

4. Flexible Auto-Subscribe

4.1 You may instruct PayBitoPro to automatically transfer one or more Eligible Earn Interest Currencies from your Spot Account to your Earn Interest Accounts (Flexible Auto-Subscribe).

4.2 If you elect to Flexible Auto-Subscribe, PayBitoPro will transfer all Digital Assets in your Spot Account, denominated in the Eligible Earn Interest Currency, to your Earn Interest Account at 02:00 UTC, and 16:00 UTC each day.

4.3 These Digital Assets will be used to Subscribe to Earn Interest Offers made available to you by PayBitoPro, and will form part of your Earn Interest Assets. Earn Interest Rewards will be calculated and distributed to your Earn Interest Account and Spot Account in accordance with these Earn Interest Terms.

4.4 PayBitoPro reserves the right not to act on your instructions to Flexible Auto-Subscribe. It may refuse to act on these instructions for any reason, including but not limited to, that the Subscription Limit for a Earn Interest Offer has been reached.

Auto-Subscribe: Example

You turn on Auto-Subscribe at 21:00 UTC on Wednesday for BCD. BCD is an Eligible Digital Currency. You hold 10,000 BCD.

Digital Assets are transferred from your Spot Account to your Earn Interest Account at 02:00 UTC and 20:00 UTC each day. As you elected to Flexible Auto-Subscribe at 21:00 UTC, BCD Digital Assets in your Spot Account will not be automatically transferred until 02:00 UTC on Thursday.

4.5 This example is intended to illustrate how Flexible Auto-Subscribe works. It is not intended to give any representation of the performance of particular Digital Assets nor the volatility of particular Digital Assets or the Digital Asset markets in general. The Digital Assets used in this example are completely fictional.

5. Locked Earn Interest

5.1 For Locked Earn Interest:

5.1.1 Earn Interest Rewards:

5.1.1.1 start accruing at the Earn Interest Rewards Rate from the day after you Subscribe. Earn Interest Rewards will accrue from day to day and will be calculated on the basis of the number of days elapsed and a 365-day year. You do not earn any Earn Interest Rewards for the first day you Subscribe;

5.1.1.2 are provided in the same digital currency as your Earn Interest Assets, unless otherwise stated;

5.1.1.3 will be calculated by reference to the Earn Interest Rewards Rate on the day the Earn Interest Rewards accrues;

5.1.1.4 will be distributed to your Spot Account, at the agreed Locked Distribution Frequency;

5.1.1.5 are rounded down to decimal places which may differ depending on the Digital Currency.

5.1.2 the Earn Interest Rewards Rate:

5.1.2.1 may vary from time to time; and

5.1.2.2 If it is changed, it will apply from the time and date specified by PayBitoPro. If no time is specified, it will be 00:00 UTC on the day that PayBitoPro announces the change will take effect on the Platform.

5.1.3 Redemption:

5.1.3.1 PayBitoPro will return Earn Interest Assets to you within 72 hours from the end of the Locked Earn Interest Term;

5.1.3.2 PayBitoPro may, in its sole discretion, permit you to Early Redeem. Your right to Early Redeem may be withdrawn at any time.

5.1.3.3 if you Early Redeem your Earn Interest Assets before the Settlement Date, you:

5.1.3.3.1 are not entitled to any Earn Interest Rewards; and

5.1.3.3.2 authorize PayBitoPro to deduct any Earn Interest Rewards arising from your Subscription that has been distributed to your Spot Account from the Earn Interest Assets you used to Subscribe.

5.1.3.4 PayBitoPro may, at its sole discretion, Subscribe to a Earn Interest Offer with 5% of the Earn Interest Rewards that would have been earned had you not Early Redeemed, on your behalf, on the following terms:

5.1.3.4.1 the Locked Earn Interest Term is ninety (90) days;

5.1.3.4.2 Earn Interest Assets cannot be Early Redeemed; and

5.1.3.4.3 Earn Interest Rewards will be in the same digital currency that would have been earned had you not Early Redeemed.

5.1.3.5 Should you Early Redeem, it may take up to 72 hours before Earn Interest Assets will be returned to your Spot Account;

5.1.3.6 in some circumstances, including but not limited to events of extreme market volatility, network delays, a significant number of simultaneous instructions to Redeem from other PayBitoPro users, or there are any other unanticipated events that or mean that your Redemption may be delayed;

5.1.3.7 PayBitoPro may specify a maximum number of Earn Interest Assets available for Redemption each day.

6. Locked Earn Interest Auto-Subscribe

6.1 When you Subscribe to Locked Earn Interest, PayBitoPro may permit you to automatically Subscribe to a new Locked Earn Interest Offer at the Settlement Date, using the Earn Interest Assets from the preceding Locked Earn Interest Offer (Locked Auto-Subscribe). Earn Interest Rewards generated from the previous Earn Interest Offer will not be used when you Locked Auto-Subscribe.

6.2 The new Locked Earn Interest Offer will have the same Locked Earn Interest Term as the preceding Earn Interest Offer. The Earn Interest Rewards Rate may change.

6.3 Earn Interest Rewards begins to accrue from the day that you Locked Auto-Subscribe.

6.4 You can amend your Locked Auto-Subscribe instructions at any time up until 23:59 UTC the day before the Settlement Date of the preceding Earn Interest Offer.

6.5 PayBitoPro reserves the right not to act on your instructions to Locked Auto-Subscribe. It may refuse to act on these Instructions for any reason, including but not limited to, that the Subscription Limit for a Earn Interest Offer has been reached.

7. Changes to Earn Interest Rewards Rate

7.1 PayBitoPro does not guarantee that you will continue to receive the Earn Interest Rewards at the Earn Interest Rewards Rate shown at the time you Subscribe during your Locked Earn Interest Term. Any representation concerning possible return at the time you Subscribe (i) is an estimate only and not guaranteed, and (ii) is based on the Earn Interest Rewards Rate, which may change.

7.2 Changes to the Earn Interest Rewards Rate will be published on the PayBitoPro Website from time to time. YOU MUST REFER TO THE PayBitoPro WEBSITE REGULARLY. PayBitoPro WILL NOT LIABLE FOR ANY LOSSES ARISING, OR CONNECTED WITH, CHANGES TO THE Earn Interest REWARDS RATE, WHETHER OR NOT YOU WERE AWARE OF THOSE CHANGES.

8. Placing a stop or suspension on, or canceling, your Earn Interest Account and Spot Account

8.1 PayBitoPro may stop, suspend or cancel your access to the Platform, impose limits to any PayBitoPro accounts, suspend or cancel your ability to participate in Earn Interest, or delay certain transactions where:

8.1.1 you do not provide additional information to verify your identity or source of funds as requested by PayBitoPro;

8.1.2 PayBitoPro is required to do so by court order, to comply with any Applicable Laws (including anti-money laundering or sanctions laws);

8.1.3 PayBitoPro is required to do so to comply with any direction or instruction from a government body or agency;

8.1.4 PayBitoPro reasonably determines that any information you have provided to PayBitoPro is wrong, untruthful, outdated, or incomplete; or

8.1.5 you do not provide additional information that we request to our reasonable satisfaction or in a timely manner.

9. Account information and transaction records

9.1 You will be able to view your account history on the Platform. You must review your account history carefully and let PayBitoPro know if you see any entries or transactions that you do not recognize or you think are incorrect as soon as possible, and within 14 days after the date that your account history is provided or made available to you.

9.2 We may rectify any error in your account history at any time, and reserve the right to void or reverse any transaction:

9.2.1 involving or deriving from a manifest error (that is, any error, omission or misquote (whether an error of PayBitoPro or any third party) which is manifest or palpable, including a misquote by any representative of PayBitoPro taking into account the current market and currently advertised quotes, or any error of any information, source, official, official result or pronunciation); or

9.2.2 to reflect what we reasonably consider to be the correct or fair details of the transaction.

9.3 We may be required under Applicable Law to share information about your accounts and use of the Platform with third parties. You acknowledge and agree that we are entitled to disclose such information.

10. Technology disclaimers

10.1 PayBitoPro may, from time to time, suspend access to your Earn Interest Account, PayBitoPro Account and/or the PayBitoPro services, or the Platform for both scheduled and emergency maintenance. PayBitoPro will make reasonable efforts to ensure that transactions on the Platform are processed in a timely manner, but PayBitoPro makes no representations or warranties regarding the amount of time needed to complete processing, which is dependent upon many factors outside of our control.

10.2 Although PayBitoPro makes reasonable efforts to update the information on the Platform, we make no representations, warranties, or guarantees, whether express or implied, that the content on the Platform, including information in relation to the PayBitoPro services, is accurate, complete, or up-to-date.

10.3 You are responsible for obtaining the data network access necessary to use the PayBitoPro services. You are responsible for acquiring and updating compatible hardware or devices necessary to access and use the PayBitoPro services, the Platform and any updates thereto. PayBitoPro does not guarantee that the PayBitoPro services, or any portion thereof, will function on any particular hardware or devices. PayBitoPro services may be subject to malfunctions and delays inherent in the use of the internet and electronic communications.

11. General Terms

11.1 All terms and references used in these Earn Interest Terms and which are defined and construed in the Terms of Use, but are not defined or construed in these Terms, shall have the same meaning and construction in the Terms of Use.

11.2 The Earn Interest Terms are to be read together with the Terms of Use. In the event of any conflict or inconsistency between the Earn Interest Terms and the Terms of Use, the order of precedence in which the documents are to be read is first the Earn Interest Terms, and then the Terms of Use.

11.3 PayBitoPro will contact you using the details you provide to PayBitoPro. This may include contacting you by email, SMS, or telephone. It is important that you ensure that your contact details are correct and up to date. If your contact details change, you must let us know immediately. If you do not, PayBitoPro will not be responsible if you do not receive information, notices, or other important information from PayBitoPro.

11.4 PayBitoPro may give notice by email to your email address. It is your responsibility to ensure that the email address is up-to-date and accurate. Notices may be given, and are deemed to be received, if sent to your email address, whether or not a notice of delivery failure is received.

11.5 You may give us notices only as PayBitoPro directs, which may change from time to time.

11.6 Any notices, consent, or other communication given under these Earn Interest Terms must be in writing, in English, and signed or otherwise authorized by the party giving it.

11.7 For more information on PayBitoPro, you may refer to the company and license information found on PayBitoPro websites. If you have questions regarding these Earn Interest Terms, please contact PayBitoPro for clarification via the Customer Support team.

12. Definitions

Applicable Law means all relevant or applicable statutes, laws (including rules of common law), principles of equity, rules, regulations, regulatory principles and requirements, notices, orders, writs, injunctions, judgments, bye-laws, rulings, directives, proclamations, circulars, mandatory codes of conduct, guidelines, practice notes and interpretations (whether of a governmental body, regulatory or other authority, or self-regulatory organization of which PayBitoPro is a member), that are applicable to the provision, receipt or use of the PayBitoPro services, or any other products or deliverables provided, used or received in connection with these terms.

Bonus Criteria means any criteria that PayBitoPro will require you to meet in order for you to be entitled to Bonus Tier Rewards.

Bonus Terms means any terms and conditions that will apply to Bonus Tiered Rewards, including but not limited to, Bonus Criteria, any limitations on the amount of Bonus Tiered Rewards that will be distributed to you, or the duration over which Bonus Tiered Rewards will accrue.

Bonus Tiered Rewards has the meaning given to it in clause 3.1.1.2.

Bonus Tiered Rewards Rate means the annual percentage rate at which Bonus Tiered Rewards are earned by you.

Early Redeem means ending your participation in a Earn Interest Offer before the Settlement Date.

Eligible Earn Interest Currencies means digital currencies selected by PayBitoPro, for which PayBitoPro may permit you to Auto-Subscribe.

Flexible Auto-Subscribe has the meaning given in clause 4.1.

Flexible Earn Interest means a Earn Interest Offer with the features described in clause 3.1.

Locked Auto-Subscribe has the meaning given to it in clause 6.1.

Locked Distribution Frequency means the time or frequency at which Earn Interest Rewards will be distributed to your Spot Account.

Locked Earn Interest means a Earn Interest Offer with the features described in clause 5.1.

Locked Earn Interest Term means the agreed period that Earn Interest Assets must be provided to PayBitoPro, and not redeemed, in order for you to be entitled to Earn Interest Rewards.

Platform means the digital platform that we or any of the PayBitoPro Operators may make accessible to you via a website, mobile app, a PayBitoPro API, or by such other means as PayBitoPro Operators may prescribe from time to time for the use of PayBitoPro services.

Settlement Date means the last day of the Locked Earn Interest Term.

Real-Time Rewards has the meaning given to it in clause 3.1.1.1.

Real-Time Rewards Rate means the annual percentage rate at which Real-Time Rewards are earned by you.

Redeem means ending your participation in a Earn Interest Offer.

Earn Interest Account means a PayBitoPro Account that records Earn Interest Assets held to your credit.

Earn Interest Assets means the Digital Assets used by you to Subscribe.

Earn Interest Rewards means the Digital Assets that are distributed to you as consideration for providing your Earn Interest Assets to PayBitoPro.

Earn Interest Rewards Rate means the annual percentage rate at which Earn Interest Rewards is earned by you.

Earn Interest Offer means an offer by PayBitoPro to pay you Earn Interest Rewards in return for you providing PayBitoPro with Earn Interest Assets, in accordance with these Earn Interest Terms.

Earn Interest Terms means these terms & conditions.

Spot Account means the PayBitoPro Account that you use for spot transactions.

Subscribe means subscribing to a Earn Interest Offer.

Subscriptions Limits means the maximum amount of Earn Interest Assets, or the quantity of any other matter that PayBitoPro may determine at its sole discretion from time to time, that may be used to limit your ability to Subscribe to a Earn Interest Offer.

Disclaimer: This document may have been translated and published in different languages. In the event of any inconsistency, misstatements, omissions, or errors appearing in any translated version, the English version shall prevail.