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The YIELD App Bitcoin Fund opens for deposits and withdrawals
We have some great news for those who missed out on our highly successful YIELD App Bitcoin Fund in its last two fundraising rounds. As of today, Thursday, October 7, users can once again deposit their bitcoin (BTC) onto our platform, so hurry to secure up to 12% APY on your BTC!
All users – including existing BTC investors – can now make deposits into their BTC wallet, with a minimum deposit set at 0.03 BTC.
However, please note that all investors will have to wait until 07:00 UTC on Sunday, October 10, to actively invest in the bitcoin fund – this is when the current fund lock-in period ends. So if you deposit before then, don’t forget to log into your account and click ‘invest’ to ensure your assets are invested into the BTC fund and can earn a market-beating APY of up to 12%.
The fund will then be open to new investments from 07:00 UTC on Sunday, October 10, until 07:00 UTC on Friday, October 15, or until a total cap of 1,500 BTC in the fund is reached, whichever is sooner.
After this date, the bitcoin fund will then be locked for 90 days until Saturday, 15 January 2022.
Investors from previous rounds
Existing investors that invested in our previous bitcoin fund rounds will also be able to redeem their BTC from the fund during this period, between 07:00 UTC on Sunday, October 10 and 07:00 UTC on Friday, October 15, after which the fund will be shuttered for another three-month period.
This means that, during this five-day period, existing investors will be able to withdraw their BTC from the YIELD App Bitcoin Fund, while any YIELD App user will be able to deposit new bitcoin.
Rewards during the third round
Anyone wishing to withdraw their BTC from the fund can do so between 07:00 UTC on Sunday, October 10 until 07:00 UTC on Friday, October 15. Rewards on full withdrawals will cease from the moment of full withdrawal. Those that make only a partial withdrawal, however, will still get rewards on their remaining bitcoin investment.
Those users who invested in the bitcoin fund during the first or second round and wish to remain invested don’t need to do anything: their original BTC and earnings will be automatically reinvested at 12:00 UTC on Friday, October 15. During the five-day period that the fund is open for redemptions and deposits, these users will continue to accrue their rewards as normal.
New Bitcoin investors will not accrue rewards during the five-day period from Sunday, October 10 to Friday, October 15. For them, rewards will begin accruing at 12:00 UTC on Friday, October 15.
Once the fund is closed, it will once again be locked for another three-month period until 07:00 UTC on Saturday, January 15, 2022. As in previous rounds, investors will lose all their BTC rewards if they choose to withdraw their BTC before this date. However, YLD rewards can be redeemed at any time.
Any withdrawal requests will be considered on an application-only basis. In order to do so, an investor must send a support ticket to us. The withdrawal limit is 3 BTC for KYC Level 1 verified users and 30 BTC for those verified to KYC Level 2. At this stage, users cannot swap their BTC for any other assets within the YIELD App platform.
Rewards over fund term
Investors that remain in the YIELD App Bitcoin Fund for the full 90-day term will receive their principal investment and the interest they have earned in BTC at the end of the term. The amount they earn will depend on an investor’s Tier level.
The Tier levels are dependent on how many YLD tokens YIELD App users hold in their wallets. The base level is Tier 1 for those holding between 0 and 4,999 YLD in their wallets, and this gives an additional reward of 2% on their BTC investment, paid in YLD. Tier 5 is available to those that have 20,000 YLD or more in their wallets, resulting in an additional 6% reward on the BTC holding, paid in YLD.
The base APY on the YIELD App Bitcoin Fund is 6%, paid in BTC. The additional YLD rewards mean that Tier 1 users will earn 8% on their BTC investment, while Tier 5 users earn the maximum APY of 12%.
During our previous rounds for the YIELD App Bitcoin Fund, we saw great interest from users across our Tier levels and we look forward to welcoming new and existing investors into the fund during this latest round. We believe our reward structure makes the fund an attractive proposition for investors looking to hold Bitcoin over the long term, offering an additional passive income on the biggest and most well-known digital asset.
The market-beating APYs on our BTC fund can help investors capture more of the upside when markets are booming and protect their portfolios on the downside during a downturn by mitigating losses. By smoothing out the volatility of BTC, we hope this investment option will appeal to a wider demographic, opening up the world of digital asset investing to everyone, everywhere in the world.
If you have any questions or queries about the YIELD App Bitcoin Fund please don’t hesitate to contact us - we will be happy to hear from you!