Users can set their coins into the CoinSpot Earn Program and earn compounded rewards daily! Receive daily rewards based on the amount of coins set based on the applicable Tiers.
In this article you will find information outlining the three different levels of Tiered rewards and understanding which tier you will be eligible for.
For further information on the CoinSpot Earn Program, please have a read of our CoinSpot Earn FAQ article. To start earning rewards from the CoinSpot Earn Program, please follow the respective articles:
What is in this article?
- What is APY %
- Why are there APY Tiers?
- What Tier do I fall under? (Full CoinSpot Earn Reward Tier Table)
- Tier reward examples
- How do I start earning rewards?
What Is APY %?
APY stands for Annual Percentage Yield which is the rate utilised to define rewards payable on Earn. APY is a normalised rate defined by the compounding period of one year.
Why are there APY Tiers?
The tiered system allows us to provide larger caps across more assets, allowing the CoinSpot community greater access to the benefits that CoinSpot Earn provides.
What Tier do I fall under?
The tiered system allows us to provide larger caps across more assets, allowing the CoinSpot community greater access to the benefits that CoinSpot Earn provides as well as larger rewards! Below is a table of the coins available through our CoinSpot Earn tier list.
Although the APY % decreases the higher the Tiers get, when more of a specific coins is placed into CoinSpot Earn, users who have already placed amounts greater than Tier 3 Range into the Earn contract will also receive rates within Tier 1, Tier 2 and Tier 3.
CoinSpot Tier Rewards Table
If the details within the table below are not visible, please zoom in.
Figure 1. CoinSpot Earn Tiered Rewards - (Tiered Reward Table)
Tier reward examples
Below we have highlighted some scenarios you may encounter when entering into a CoinSpot Earn contract. This will help users understand the way in which tiers may work and apply. Below we will be using Cardano (ADA) as an illustrative example.
You have entered 9,000 Cardano (ADA) into CoinSpot Earn, you will be eligible to receive rewards at Tier 1 (3.30% APY).
Your 9,000 ADA will remain in Tier 1, any accrued rewards and purchases that increase your total ADA holdings to 10,000 ADA or more within CoinSpot Earn for ADA will then be rolled into Tier 2 (3.00% APY).
Figure 2. CoinSpot Earn Tiered Rewards - (ADA Example 1 - Tier 1)
You have entered 19,600 Cardano (ADA) into CoinSpot Earn, the following APY percentages will be applicable.
- Tier 1 - 10,000 ADA - 3.30% APY
- Tier 2 - 9,600 ADA - 3.00% APY
Figure 3. CoinSpot Earn Tiered Rewards- (ADA Example 2 - Tier 2)
You have entered 65,000 Cardano (ADA) into CoinSpot Earn, the following APY percentages will be applicable.
Any other amounts greater than 20,000 Cardano (ADA) will fall under Tier 3 (2.08% APY).
- Tier 1 - 10,000 ADA - 3.30% APY
- Tier 2 - 10,000 ADA - 3.00% APY
- Tier 3 - 45,000 ADA - 2.80% APY
Figure 4. CoinSpot Earn Tiered Rewards- (ADA Example 3 - Tier 3)
How do I start earning rewards on CoinSpot?
View our guide on how you can start earning compounded daily rewards today through the CoinSpot Earn program:
Not all coins listed on CoinSpot are available through the Earn Program, if there are any coins you would like to see through the program, please let us know through social media or let our team know!
Need More Help?
Please submit your request via Zendesk - https://coinspot.zendesk.com/hc/en-us/requests/new
or start a conversation with us via Live Chat and our team will provide full instructions and advice.