X-tra's saving bonus is BROKEN

I have a “premium” subscription, I am supposed to be getting 4% savings bonus on WXT which I have been told is calculated daily, paid weekly (like X-Accounts).

I have had over 10000 WXT sitting in my X-Tras account for 5 days now… daily interest on that should be ~1 WXT… 10000 * 4% / 365 == 1.09589041096. But the app/website are still showing interest earned as 0WXT.

Have logged a ticket from Oct 25 and have not received a response about this yet.

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Hi
It’s paid out monthly.
Calculated using the lowest amount you have in wxt over that month. So if you spend your wxt before the month is up you wouldn’t get any interest.
X-accounts is paid weekly

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Thanks for explaining sir :slight_smile:

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Right… So, I see it now: Wirex | Making currencies equal and available to everyone (wirexapp.com)

That monthly min balance*annualised interest rate/12 is basically a bullshit way of ensuring that your interest is going to be 0 or very low if you try to spend any of your WXT. Better in that case to just swap it all back to BTC or ETH or whatever and dump it back into the X-Account then, isn’t it?

Also, that formula looks really broken… How can Daily Interest = Principal Balance + (monthly min balance x (annualised rate/12))??!?

If I had 10000 WXT in for a whole month, that would make the daily interest = 10000 + (10000 x ( 4% /12))??!? :confused:

Can someone please explain, with some example numbers, exactly how this is being worked out??

Hi @hcp123! You can choose to receive interest in WXT or in the currency you have opened the account in. The percentage of the interest depends on it and is bigger in WXT. Please, find all the relevant information on this matter in the link below:

My guess is… 12% interest on 10000wxt over the year = 1200wxt divide this by 12 months= 100wxt per month. At the moment x-accounts with USD or another currency at 16% might be a better deal.
Of course WXT could/ should go up in value:)