It’s that time again! We are thrilled to announce that the YIELD App Bitcoin Portfolio is once again open to new deposits. As of today, Thursday, January 13, from 07:00 UTC, users can deposit their Bitcoin (BTC) onto our platform, so hurry to get in on this latest reopening!
All users – including those with existing holdings in the Bitcoin Portfolio – can now make deposits into their BTC wallet, with a minimum deposit set at 0.03 BTC.
The portfolio will then be open to deposits and withdrawals of existing holdings from 07:00 UTC on Saturday, January 15, until 00:00 UTC on Tuesday, January 18.
All new deposits will be deployed automatically when the portfolio closes on Tuesday, January 18, at 00:00 UTC. However, rewards on new and existing holdings will be back-paid from 07:00 UTC on Saturday, January 15, 2022. Once you deposit your BTC assets, you do not need to do anything – they will be deployed automatically.
After the closure date, the Bitcoin Portfolio will then be locked until 28 February 2022, and from this date on it will transition to monthly redemptions (more details to follow).
If you got in during previous rounds
Those users who got into our previous Bitcoin Portfolio rounds will also be able to redeem their BTC from 07:00 UTC on Saturday, January 15, until 00:00 UTC on Tuesday, January 18, when the portfolio will be shuttered once again.
From this point on, the YIELD App Bitcoin Portfolio will transition to Version 2 (V2) of our platform and will therefore be subject to the new V2 rates, shown below. Once you have made a deposit in the Bitcoin Portfolio, you will not need to do anything. The transition to V2 will happen automatically.
Rewards during the fourth round
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 holding.
Those users who allocated to the Portfolio during the first three rounds and wish to remain in the Bitcoin Portfolio, don’t need to do anything: your original BTC and your earnings will be automatically redeployed. Any earnings accrued between the end of the lock-up period at 07:00 UTC on Saturday, January 15, and the launch of V2 on Tuesday, January 18, will be back-paid according to the new V2 rates.
READ: Could Bitcoin hit a new all time high this year?
Meanwhile, those that make a new allocation to the YIELD App Bitcoin Portfolio will also earn rewards from Saturday, January 15, at 07:00 UTC. These rewards will be back-paid and visible in your account when you log into your new V2 interface on Tuesday, January 18. All BTC rewards for this period and henceforth will be auto-compounded.
The YLD rewards from your BTC holding will be paid daily at 00:00 UTC. Users will be able to choose between receiving their YLD rewards straight into their wallets or autostaking them. Under V2, YLD must be staked or locked to earn YLD on YLD rewards. Details can be found in our recent blog post.
Portfolio closure
From 07:00 UTC on Monday, February 28, 2022, the Bitcoin Portfolio will move to monthly liquidity with redemptions open at the end of each calendar month.
Users that remain in the YIELD App Bitcoin Portfolio for the full lock-up term will receive their principal allocation and the interest they have earned in BTC at the end of the term. The amount they earn will depend on a user’s Tier level on YIELD App. When the BTC portfolio closes on Tuesday, January 18, at 00:00 UTC, all users will transition to their new V2 Tier levels.
READ: V2 user testing has begun! Here’s what’s new
As in V1 of YIELD App, The V2 Tier levels are dependent on how many YLD tokens users hold in their wallets. The base level is Bronze, which is available to those holding between 0 and 999 YLD in their wallets, and this doesn’t give any additional YLD rewards. The Diamond Tier is available to those that have 20,000 YLD or more in their wallets, resulting in an additional 3% reward on the BTC holding, paid in YLD.
In V2, the base APY on all portfolios will also be variable. For the YIELD App Bitcoin Portfolio, this has been set at 4% for Bronze Tier users going up to 7% for Diamond Tier, paid in BTC. The additional YLD rewards mean that Diamond Tier users can earn the maximum APY of 12%.
During our previous rounds, we saw great interest in the YIELD App Bitcoin Portfolio from users across our Tier levels and we look forward to welcoming new deposits during this latest round. We believe our offering under the new V2 reward structure continues to be a highly attractive proposition for users looking to hold Bitcoin over the long-term, offering additional passive income on the world’s biggest and best-known digital asset.
READ: How to mitigate Bitcoin losses during a bear market
The APYs on our Bitcoin Portfolio remain among the highest in the market, helping our users to capture the upside of Bitcoin when markets are booming and protect their holdings during downturns by mitigating losses. We hope our BTC offering appeals to a wide demographic due to its ability to smooth out the volatility of Bitcoin, opening up the world of digital assets to everyone, everywhere in the world.
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!
Do you want to earn the market’s leading APYs on your digital assets? Sign up for a YIELD App account today!
DISCLAIMER: The content of this article does not constitute financial advice and is for informational purposes only. The price of digital assets can go down as well as up, and you may lose all of your capital. Investors should consult a professional advisor before making any investment decisions.
