FAQ & Rules
How do I stake BCI and earn Interest?
You only need to create an account at my.bitcoininterest.io and then go to the dashboard -> Add Address -> Enter Amount, Period and Nickname and click save.
It is as simple as that.
How long do I have to stake my BCI?
For monthly staking you have the 1st through the end of the 3rd of every month.
Example: Jan. 1 - 3
For weekly staking you have the first 24 hours of the start day.
Example: Jan. 1 (round 1), 8 (round 2), 15 (round 3), 22 (round 4)
For quarterly staking you have the 1st through the end of the 10th of every month, or the start of the cycle.
Example: Jan. 1 - 10
For yearly staking you have the 1st through the end the month of January for no penalty, or the start of the cycle.
Example: Jan. 1 - 31
Can I stake the same address in both Monthly and Weekly?
No. Addresses are unique to only one period at a time.
What happens if I miss the staking period?
If you miss the monthly staking period (1st - 3rd) then you have till the 10th to stake for a 33% penalty on your stake amount.
Example: Jan 4-10 for -33%. For example if you put in 100 BCI during this time it will only really count for around ~77 BCI after late penalty.
For weekly you will have to wait till next round starts.
When do payments go out?
For monthly payments happen at a random time on the last day of the month.
For weekly payments happen at a random time on the last day of the period, or the Day 0.
Why random time?This is done because no funds are kept on the server. They are stored offline and only sent when the random payment time is set. This is for security purposes as we don't want to have a large amount of BCI sitting out there.
Where does the interest come from?
The interest comes from our interest pool. BCI is fed into that from mining. We split the block rewards and have a small portion, roughly 8%, go to the interest pool to pay out interest.
There will be bonus interest for monthly and weekly once seg pools goes lives from the collected interest during development.
How does the calculator work?
The calculator works by taking the current amount of interest staked and running a simple equation to determine what you could make at that point in time.
Keep in mind the weekly amounts change, but the monthly one should remain fairly accuaretly with some change due to the 10 day staking period.
Can I change my staked amount at any time?
You can only change during the allowed days of each cycle. See above for cycle periods.
Should you change out of a cycle grace period you will not get interest for that cycle.
My address says it is no longer eligible. Why?
This can happen for 2 reasons.
1. You address no longer has the claimed amount in it.
2. You made a change outside of the staking period. That includes even changing the name.
How do I correct an address that is no longer eligible?
You will need to delete this address and re-add it back in and make sure you have the correct amount.
Do I have to send BCI to anyone, or anywhere?
No. No one from Bitcoin Interest, or our platform will ever ask you to send funds anywhere. The main asset of BCI is that you can stake your coins from whatever wallet you want. You control your coins and can do with them as you please.
Is this like Bitconnect or other lending platforms?
No. Bitcoin Interest does not require you to send anything to us to use our service.
We are a decentralized interst platform where all funds being used to pay people can be tracked and monitored.
All our source is completely open and can be found on our github.
Is Bitcoin Interest POW or POS?
This is something that confuses people. We are at our core PoW, but we have a staking feature that leads people to believe we are PoS. At the very least we can be considered a PoW/PoS hybrid.
Can I move my coins at any time?
Absolutely. You never send anything to us so you are free to do with them as you please. Just remember moving coins before a round is over will cause you to lose a chance at interest that round.
How do you know if funds are moved?
We have multiple wallet account balance databases that are all triple checked against one another to prevent fraud. From there they are checked every 2 minutes to verify all funds still exist with each new block that is incoming.
Does my staking automatically carry over to next round?
Yes and if you want to add more coins to next round be sure to only do on approved dates (see above).
Am I guaranteed a certain percentage or certain amount of BCI every round?
No. Because this is competitive and interest earned is based on your power in the round, if you stake too little you may not receive anything.
When are Quarterly Periods?
Q1 2019 -- January 1, 2019 to March 31, 2019
Q2 2019 -- April 1, 2019 to June 30, 2019
Q3 2019 -- July 1, 2019 to September 30, 2019
Q4 2019 -- October 1, 2019 to December 31, 2019
Payments go out at the end of each quarter.
When Can I Stake for Quarterly and Yearly
There are no set times for these pools like weekly and monthly. You can stake at anytime and will be rewarded for how long you stake. So if you choose to stake 1 day before a quarter ends then it would be a smaller reward then someone who staked 30 days before you.
What are the rules and FAQs of the Referral Program?
⦁ You must have at least 1 eligible staking account at all times, no minimum however.
⦁ The users underneath you must have at least 1 eligible account for you to get a percentage of the staking amount.
⦁ You will get a percentage from ALL, up to tier 5, eligible staking accounts underneath you.
⦁ There are 5 tiers of referrals. Tier 1 – 10%, Tier 2 – 5%, Tier 3 – 5%, Tier 4 – 3%, and Tier 5 – 2%.
⦁ You’ll earn 10% of what your direct referrals (tier 1) stake, 5% from tier 2 and 3 referrals, 3% from tier 4 and 2% from tier 5
⦁ The percentages are added to your specified staking account.
⦁ All staked amounts you have will get this bonus.
⦁ If a user below you loses their eligibility then that referral bonus will not be counted for you.
⦁ There are no limits in any of the tiers of referrals. Thats right, unlimited power.
⦁ You only get BCI added to staked amounts. BCI is not paid directly, however, if you have a larger staked amount, then in turn your chances to receive more interest in increased, but there are no guarantees since the staked volume changes over time.
⦁ Once you reach over 100 direct referrals you no longer need to have a staked account. You will automatically have a staked account and be considered “Gold Status”. This means you can earn BCI without having to stake any of your own.
⦁ Should you fall below 100 you will go back to needing a staked amount.
⦁ An “eligible referral” is defined as a user who used your referral link to sign up and has at least 1 eligible staked address on their account.
⦁ At 1000 referrals you get 20% added to a staking address of your choice and be considered "Diamon Status"
⦁ Should it be determined that your account is in violation of referral rules you will lose eligibility for referral and a possible account ban.
⦁ There are no guarantees that referrals will increase your profits/ROI.
Examples of the Referral Program
Person A – has 5 direct referrals and staked 100 BCI.
Person B, C, D, E, F each have 100 BCI staked. Person A gets 10% from each giving him an extra 10 BCI from each totaling 50 extra BCI.
Person A now has 150 BCI staked.
Person A has 1 Referral and staked 100 BCI.
Person B (referral of A) has 3 Referrals and staked for 10 BCI.
Person C, D, E (referrals of B) each staked 20 BCI.
Person A gets 10% from B = 1 BCI, and Person A gets 5% from C, D, E = 1 BCI Each. Person A has 104 BCI staked now.