What Users Say About...

My experience with the program so far

It has been a while since we changed our FIPs (Fixed Income Plans) to Fixed Deposits (FDs), and this article is to make our users more aware of this change.

In addition, we have shifted from weekly FIP plans to daily FD plans. The concept remains the same.

Our crypto FDs are available on the website as well as the mobile apps, where users can invest a certain amount of base currency (for example, BTC OR USDT) in one of the FD plans (or more), for a fixed period and rate of return.

Users are free to choose a suitable plan from among multiple FD plans available on the dashboard, where each plan has an allocation limit, beyond which further investments into that particular plan will not be accepted. Past that, the funds accumulated will be locked in for said maturity period for interest calculation. As the maturity period ends, the user receives the principal amount along with the interest they earn, in their Bitbns wallet.

Note that, BNS holders can avail of a higher rate of return on certain plans (it will be mentioned

What I Like

Login to your Bitbns account (on the website) and select ‘Fixed Deposits' on the top navigation menu.
Check out the plans and figure out which one suits your preferences. Then, click ‘Invest Now'.
Enter the amount of base currency required in the plan you want to invest. This amount will be transferred from your Bitbns wallet to your FD plan. So please maintain sufficient balance.
Make sure you verify the rate of return and early redemption charges, maturity period, and estimated total at maturity before investing. The rate of return is annualized and interest is calculated per day.
When you are all set to proceed, hit ‘Deposit'.

What I Dislike

Withdrawals are not allowed during the allocation period

Final Verdict

Before maturity. However, the amount you withdraw will receive interest calculated as per the Early Redemption Rate for the number of days it remained invested in the plan. In case of partial redemptions, the amount redeemed would receive interest as per the Early Redemption Rate and the rest will receive interest as per the ordinary rate of return.