BingX is a well-known crypto platform with over 10 million users and 100+ supported countries that provides its users with multiple opportunities to earn through passive ways. However, if you are new to the concept of passive income with BingX, we have got your back.
In this blog, we’ll break down complex concepts into simple, easy-to-understand words, helping you navigate the path to prosperity effortlessly. So let’s start exploring.
BingX Wealth provides a comprehensive asset management solution, designed to help your unused funds generate interest and ensure consistent returns. The platform supports popular cryptocurrencies like USDT, BTC, ETH, and others.
Tailoring to individual preferences, they offer Flexible Term and Fixed Term modes for personalised asset management. For more details about BingX read our precise BingX review.
The Annual Percentage Rate (APR) represents the interest gained from invested assets within a year, expressed as a percentage. This includes any fees paid by borrowers. APR is a useful tool for comparing different investment products, offering a standardized way to present annual interest rate information.
BingX options for APR have two types: one is fixed and the other is flexible. Fixed yield refers to a consistent, predetermined return on investments, providing stability. On the other hand, flexible yield implies variable returns, adapting to market conditions.
Investors can choose between these options based on their risk tolerance and investment goals, with fixed yield offering predictability and flexible yield adjusting to market fluctuations for potential higher gains.BingX supports a variety of cryptocurrencies for APR. For instance, on USDT you can have 5% of APR for flexible terms and up to 9.25% on fixed terms.
|Flexible Term APR
|Fixed Term APR
Grid trading on BingX involves placing buy and sell orders at predetermined intervals, creating a grid of trades to capitalize on market fluctuations. It’s a strategy aimed at profiting from market movements within a set range. To enhance your understanding, check out our comprehensive bot guide review for valuable insights and tips on optimizing your grid trading experience.
Here are some prominent advantages of BingX wealth products.
1. Preservation of Capital: BingX Wealth presents stable passive earning opportunities, offering a range of product durations that yield relatively consistent interest returns. However, BingX does lock up funds in pool staking for a few months or a year.
2. Consistent and Dependable: BingX stands out as one of the pioneer cryptocurrency exchanges to successfully undergo Merkle Tree Proof of Reserves (POR) verification, ensuring 100% asset collateralization. Regular publication of Merkle Tree proofs enhances user asset security supported by a strict risk control system.
3. No Charges: Subscription and redemption have no fees.
4. Exclusive VIP Wealth: VIP users enjoy enhanced returns and a wider array of product options.
5. Wealth as Margin: BingX introduces a revolutionary concept called Wealth as Margin. This functionality empowers you to shift a designated USDT amount from your subscribed Wealth products to serve as a margin for Futures trading, enhancing support for your Perpetual Futures transactions. Presently, this feature is exclusive to USDT Fixed-Term and Flexible-Term Wealth products; other cryptocurrency assets are not yet compatible.
To take advantage of BingX wealth, you must follow some guidelines which are mentioned below.
● 1.1: You can subscribe to and redeem flexible-term wealth products at your convenience.
● 1.2: Subscriptions made before 13:59 daily will collect interest from 16:00 on the second day; those made after 14:00 will start gathering interest from 16:00 on the third day (all times in UTC).
● 1.3: Interest will automatically be reinvested, with real-time yield adjustments based on market fund utilization. Compounded interest piles up directly in the Wealth Account, and fund history records appear only when users manually redeem to the Fund Account.
● 1.4: Redemption begins on the 2nd day after purchasing flexible-term products. The subscribed amount is not available for redemption on the same day. Upon redemption initiation, funds are typically credited in real-time from the Wealth Account to the Fund Account.
● 2.1: These products come with predetermined start and maturity periods. Please consult the product page for specific details.
● 2.2: Once a user initiates enrollment for a fixed-term product, the outcome is typically disclosed on the second day. In case of a successful enrollment, interest will commence accruing. In case of unsuccessful enrollment, the amount will be automatically returned to the Fund Account.
● 2.3: Upon maturity of the fixed-term product, both the principal and interest will be automatically redeemed. Typically, this redemption will be processed to the Fund Account within one working day.
● 3.1 Total Asset Worth: The total of the current value of the principal and interest within the Wealth Account, subject to adjustments based on interest rate changes.
● 3.2 Overall Earnings: The cumulative sum of generated interest.
● 3.3 Previous Day’s Earnings: The estimated total interest generated the previous day, with daily calculations for interest from fixed-term products.
BingX Wealth Guide offers a straightforward approach to financial well-being. With user-friendly tips and practical advice, it empowers readers to make informed decisions and navigate the path to wealth with ease.
1. How does BingX Wealth prioritize the actual credited amount upon redemption over the estimated values?
BingX Wealth prioritizes the actual credited amount upon redemption by ensuring precise calculations based on real-time data, giving precedence to accuracy overestimated values for user confidence and satisfaction.
In BingX Wealth, APR refers to the Annual Percentage Rate. This measure represents the total cost of borrowing over a year, including interest and fees, providing a standardized measure for comparison.
The variable APR is not set because it fluctuates with real-time market conditions, and the capital utilization rate varies hourly, resulting in an ever-changing flexible-term APR.