Introducing Fixed Income Plan
Tags: Cryptocurrency, Bitbns, Cryptocurrency Investment, Bitcoin, Return On Investment

Dear Traders,

A brand new feature has arrived on Bitbns. And there is something unique about it. There’s nothing hidden, nothing sugar-coated. You invest a certain amount of money and get assured returns agreed upon. This new feature does what it says, returns what it promises.

We call it — Fixed Income Plan (FIP)

FIP is available on the Bitbns (website version only, as of now) where users can invest a certain amount of USDT or BTC in one of the FIP plans (or more), for a fixed period of time and rate of return. Users are free to choose a suitable plan from among multiple FIP plans available on the dashboard, where each plan has an allocation limit, beyond which further investments into that particular plan will not be accepted. Past that, the funds accumulated will be locked in for said maturity period for interest calculation. As maturity period ends, the user receives the principal amount along with the interest they earn, in their Bitbns wallet.

Like we said, does what it says.

How to invest in FIP

Really, it is so simple we shouldn’t even be explaining this, but here we go:

Login to your Bitbns account (on website) and select ‘FIP’ on the top navigation menu.

Check out the plans and figure out which one suits your preferences. Then, click ‘Invest Now’.

Enter the amount of BTC or USDT you want to invest. This amount will be transferred from your Bitbns wallet to your FIP plan. So please maintain sufficient balance.

Make sure you verify the rate of return and early redemption charges, maturity period and estimated total at maturity before investing. The rate of return is annualised and interest is calculated per day.

When you are all set to proceed, hit ‘Deposit’.

Interest Calculation

Here comes the interest-ing part; interest calculation, and the whole process of it:

There are multiple plans on the FIP board to choose from. Each FIP plan has a maximum allocation limit i.e the maximum amount of USDT or BTC it can collect from users.

Users invest and wait till maximum allocation of the plan is reached. Once maximum allocation is hit, the funds allocated are locked in and maturity period commences.

Each plan has a ‘Rate of Return’ and ‘Early Redemption Rate’. Let’s understand them both with an example:

Suppose you have invested Rs. 1000 in an FIP plan for a maturity period of 14 days, where rate of return is 10% and early redemption rate is 9.12%. Now in case you withdraw Rs. 300 on 4th day of maturity period, out of the Rs. 1000 invested, you get:

9.12% annualised returns calculated for 3 days on Rs. 300 in your Bitbns wallet right away. Please note that early redemption rate would be levied in as penalty.

Interest generated as per a 10% annualised rate of return on remaining Rs. 700 (invested for full maturity period).

*Note: For those looking forward to FIP on mobile app, we'll launch it soon!

FAQs on FIP

What is the minimum amount I can invest in FIP?

For a particular FIP, the minimum amount for your first investment is 10 USDT or equivalent BTC. After the first investment, there is no minimum amount.

When does the interest calculation start, for my investment?

Once the maximum allocation for a plan is reached and funds are locked in, the maturity period begins during which the interest on your investment is calculated.

Can I redeem before maturity?

Yes, you can redeem before maturity. However, the amount you withdraw will receive interest calculated as per Early Redemption Rate for the number of days it remained invested in the plan. In case of partial redemptions, the amount redeemed would receive interest as per Early Redemption Rate and the rest will receive interest as per ordinary rate of return.

What is the minimum maturity period for which I shall stay invested in FIP to make minimum possible interest?

24 hours is the minimum maturity period to start making interest in an FIP plan.

Can I withdraw during the allocation period?

No. Withdrawals are not allowed during the allocation period.