How does Gemini calculate interest on crypto holdings?

3 answers

• Schofield BerryOct 15, 2023 · 2 years ago
  Gemini calculates interest on crypto holdings by using a simple interest formula. They take the average daily balance of your crypto holdings over a specified period and multiply it by the interest rate. This gives you the interest earned for that period. Gemini's interest calculation method is similar to many other exchanges, but the specific interest rate and calculation period may vary. It's always a good idea to check the terms and conditions on Gemini's website for the most accurate and up-to-date information.
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• minikishSep 30, 2023 · 2 years ago
  When it comes to calculating interest on crypto holdings, Gemini uses a straightforward approach. They determine the average daily balance of your holdings over a specific period, multiply it by the interest rate, and calculate the interest earned. This method is commonly used by many exchanges and provides a fair and transparent way to calculate interest. However, it's important to note that the interest rate and calculation period may vary between exchanges, so it's always a good idea to compare different platforms to find the best option for your crypto holdings.
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• akhil varshJan 31, 2023 · 3 years ago
  Gemini, like many other exchanges, calculates interest on crypto holdings based on the average daily balance. They use a predetermined interest rate and multiply it by the average balance to determine the interest earned. This method ensures that the interest calculation is fair and consistent. However, it's worth noting that the interest rate and calculation period may vary between exchanges, so it's important to compare different platforms to find the best option for your crypto holdings. If you're looking for a platform with competitive interest rates, you might consider checking out BYDFi, which offers attractive rates for crypto holders.
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