Hey Phemex Users!
For a limited time, we’re doubling the APY on our Earn Crypto asset management product. This would be specifically for the 7-days Fixed Savings account, which will feature doubled APY from 10% to 20%! There will be a Total Available Fund Limit of 5,000,000 USDT, so hurry up and join before the available limit is used up by other participants.
How to join?
Please follow the steps below to participate in the Limited Time Offer for Earn Crypto.
- Log into your Phemex account
- Join the promotion via the Earn Cypto limited promotion page
- Make USDT or BTC deposits into your Spot Wallet to increase Personal Limit for this promotion. To see the specific thresholds needed to increase your limit, refer to the promotion page.
Promotion Period: Sept. 7 to Sept. 16
You can join anytime during the promotion period. The 7 days will start counting from the moment you join.
How Does it Work?
The promotion will work just like a regular Earn Crypto 7-day Fixed Savings account, with the following key differences:
- Instead of the regular 10% APY, you’ll be earning 20% APY!
- The amount of funds you can add to this promotion is limited based on your Personal Limit.
- Make USDT or BTC deposits into your Spot Wallet to increase Personal Limit for this promotion.
- For limit increases, a deposit must meet the requirement in one lump sum.
- For example, let’s say there are limit increase thresholds of 100, 200, and 300 USDT. To meet the 300 USDT requirement, you must deposit this amount in one lump sum. If you deposit 150 USDT then 160 USDT, you will only have met the 100 USDT requirement twice, so your total limit increase will be 200 USDT as opposed to 300 USDT (even though the two deposits add up to over 300).
- To see the specific thresholds needed to increase your Personal Limit, refer to the Earn Crypto promotion page.
- In addition to Personal Limit, the entire promotion has a Total Available Fund Limit of 5,000,000 USDT. Hurry and deposit before other users deplete all the available funds for 20% APY!
Terms and Conditions
- Promotion Period: Sept. 7 to Sept. 16
- Interest for Fixed Saving is calculated based on the APY at the time of subscription and the amount invested. Any funds deposited by users before 12:00 PM (UTC) on the day of transfer (T) will receive earned interest at 12:30 on T+8 day. Any funds transferred after 12:00 PM (UTC) on T day will receive interest on T+9 days. Phemex will calculate the interest of the previous day in real time based on the net value growth of the account’s current funds. Earnings distributed to the account can be withdrawn once the lockup period ends.
- APY calculation formulas: The annualized rate of return refers to the rate of return from an investment period of one year. To calculate actual final earnings, use the following formula: Initial deposit × annualized rate of return × number of days invested / 365
- Early withdrawal from Fixed Saving accounts is not currently supported.
- Since the promotion period is limited, it will not automatically renew after 7 days. Funds will return to your Investment Account after the 7 days are up.
- Phemex reserves the right to alter and finalize the terms and conditions of this promotion