Title: Cryptsy interest rate
Post by: captainbluff on September 24, 2014, 10:00:18 AM
I can't seem to find any information on Cryptsy interest rate. I have a bunch of DRK and XC coins and very small amount of BTC in my account. I have noticed that I have been receiving small amount of BTCs from Cryptsy.
Question:
1. What is the rate of the interested rate Cryptsy is paying out?
2. Is Cryptsy only paying out on the BTCs in my account or on all coins?
Title: Re: Cryptsy interest rate
Post by: Palmdetroit on September 24, 2014, 10:03:31 AM
What Are Balance Rebates?
Balance rebates are basically a cut of our collected transaction fees for users who hold balances in certain currencies on our exchange. Currently the currencies we collect fees on are BTC, LTC, and USD. Users who have a balance in these currencies will be included in the pool of users who get a daily rebate in the same currency.
How Much Will I Earn in Balance Rebates?
We pay a 2% rebate. Balance calculations include available and held for order balances. So even if all your funds are held for open orders, they are included in the calculation.
So for example: We collect 10 BTC in trade fees in a day. This leaves 0.2 BTC available for rebates (2%). If you had 100 BTC on account and between all users the sum of all balances was 10,000 BTC, then you would receive 1% of the total rebate for that day. In this case that would be a 0.002 BTC daily rebate. Balances and rebates are calculated and distributed separately for each of the BTC, LTC, and USD currencies.
When Do I Get Paid My Cryptsy Points and Balance Rebates?
The program which calculates payouts and makes disbursements runs after midnight EST every day. Usually around 2am EST. http://blog.cryptsy.com/post/94775274327/updates-to-cryptsy-points-program-and-new-balance
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