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The Yield App Bitcoin Portfolio opens and moves to a monthly cycle!
- Bitcoin portfolio re-opens today, Saturday, 26 February 2022
- BTC redemptions open from now until 00:00 UTC on Tuesday 1 March 2022
- BTC deposits open indefinitely starting now
- In future, simply submit a request before the end of each month to redeem to your BTC on the 1st of the following month
We are excited to announce that the Yield App Bitcoin Portfolio is open once again, and this time it’s here to stay. As of today, Saturday, 26 February 2022, all customers will be able to make deposits and begin to earn on their Bitcoin at any time. It is also now possible to schedule a redemption, with redeemed assets available on a month-end basis.
From today, Saturday, 26 February 2022, customers can deposit BTC into their Yield App wallet and click “Earn” to deploy these assets into the Bitcoin Portfolio at any time. Redemptions from the portfolio can be made from now until Tuesday, 1 March 2022, when the portfolio will move to a monthly redemption cycle.
During this monthly cycle, customers will be able to make a redemption request by clicking the “Redeem” button at any time. These withdrawal requests will then be processed once a month, on the 1st of each month, at which point the redeemed BTC will appear in a customer’s Yield App wallet.
IMPORTANT: The BTC address on Yield App has changed as a result of the launch of V2. DO NOT attempt to send your BTC to the old V1 address! You MUST send your BTC to the new Native SegWit BTC wallet address (also known as bech32).
Since launch, we have seen great interest in our Bitcoin Portfolio from customers of all Tier levels. We are thrilled to introduce the new monthly redemption cycle, which will make our Bitcoin offering even more accessible and competitive, providing the added flexibility that our customers have been asking for.
Beginning today, customers can add BTC to their Yield App wallet at any time. To begin earning rewards, simply click the "Earn" button to move your assets into our Bitcoin Portfolio.
Rewards will begin accruing on a daily basis once the BTC amount has been deployed for a full 24-hour cycle, starting at midnight UTC. If you make your deposit one minute later than this deadline (i.e. you clicked "Earn" at 00:01 UTC), you will receive your first rewards after 47 hours and 59 minutes, not after 23 hours and 59 minutes. The BTC rewards will auto-compound directly into the Bitcoin Portfolio.
Our Silver, Gold, and Diamond Tier members will receive their YLD Tier Bonus daily at 00:00 UTC. All YLD rewards will be automatically staked, even if you do not have the auto-stake option toggled on in the YLD page.
Those customers who deployed assets into the Bitcoin Portfolio during the first four rounds and want to remain in the Bitcoin Portfolio don't need to do anything: your principal BTC allocation and the rewards earned during the previous lock-up period(s) will be automatically redeployed.
If you wish to redeem your BTC, you can now simply click the "Redeem" button at any time and choose how much you want to redeem. You have the option to redeem a part of your BTC holdings or the entire BTC amount available at the time of the request (by clicking the “Available” button). In addition, it is possible to request the withdrawal of all BTC available at the end of the cycle (using the “All” button), taking into account automatic compounding and future rewards. In this case, the total amount will be calculated upon redemption.
Once you request to redeem your BTC assets, you don't have to do anything else. You will continue to receive rewards for your deployed BTC until the redemption request is processed and the assets are transferred into your Yield App wallet automatically at the end of the cycle.
Please note that you can only submit one active withdrawal request per cycle. If you change your mind about the request, you can cancel it before the end of the month. To change the redeemed amount, you must first cancel the request and then create a new one.
Against the current market backdrop of rising inflation and falling asset values, the passive income available on our Bitcoin Portfolio can help mitigate the volatility and continue earning rewards, while you wait for markets to recover. With the new added flexibility, we believe our offering fits into a long-term digital wealth strategy, regardless of market conditions.
If you have any questions or queries about the Yield App Bitcoin Portfolio please don’t hesitate to contact us - we will be happy to hear from you!