Policy

Last updated: 21 August 2023

These terms and conditions shall apply to all Earn accounts opened and maintained with bitcastle (“the Platform”). By purchasing the bitcastle Earn and clicking “Read and Agree”, you confirm that you have read, understood, and accepted all the terms and conditions stipulated herein and all the terms and conditions stipulated in the User Agreement.

1. Scope and Application of the Agreement.

These terms and conditions are to be read together with the bitcastle Terms of Use. In the event of any conflict or inconsistency between these terms and conditions and the Terms of Use, these terms and conditions shall prevail with respect to the services contemplated hereunder unless expressly stated otherwise. Unless otherwise expressly agreed by bitcastle in writing, this version of this Agreement shall replace and supersede all previous versions of this Agreement that may have been accepted by ou or otherwise made available on the Platform.

2. Modification to the Agreement.

bitcastle reserves the right to amend or modify any portion of this Agreement at any time by publishing the revised version of the Earn Terms and Conditions Agreement on the Site. The changes will become effective and shall be deemed accepted by the User, the first time the User uses the Services after the publishing of the revised the Earn Terms and Conditions Agreement and shall apply on a going-forward basis with respect to any activity initiated after publishing. In the event that the User does not agree with any such modification and amendments, the User's sole and exclusive remedy is to terminate the use of the Services and close the Account. The User agrees that bitcastle shall not be liable to the User or any third party as a result of any losses suffered by any modification or amendment of these Terms of Use.

3. Voluntary Act.

You purchase Earn Product on the Platform voluntarily in accordance with your own financial situation and with your understanding of the relevant risks you deal with, and shall have no connection with the Platform or any third party.

4. Risk Disclosure.

You should be aware that the risk of loss in trading or holding Digital Currencies (coins and/or tokens) can be high. Digital currency services are not currently regulated in most countries (by financial authorities or any other regulator). You should therefore carefully consider whether trading or holding Digital currencies are suitable for you in light of your financial condition and possible risks.

5. Product type.

Bitcastle offers one type of passive income product: Fixed

6. Fixed

  • 6.1 Deposit amount: maximum and minimum deposit amount shall be set up by the Platform. Once you place an Earn position, deposit amount shall be auto-transferred from your trade wallet to Earn wallet.
  • 6.2 Value date: The interest income shall be accrued on daily basis from at 00:00 UTC from the second day after User applies for placement in the deposit (i.e. the T+1 day), and shall be paid in a lump sum within 48 hours after the deposit matures.
  • 6.3 Interest income calculation: bitcastle Earn’s annual rate of return shall be calculated based on the deposit amount and length of the deposit. For instance, a user registers a fixed deposit of 1000 USDT in 180 days. The annual percentage rate (APR) is 5%. Interest income = deposit amount x APR/365 x time of deposit = 1000 x 5%/365 x 180 = 24.65 USDT
  • 6.4 Payment currency: Interest income currency shall be same deposit currency and rewarded on daily basis to User’s Earn wallet
  • 6.5 Redemption: Deposit and interest income amounts from Earn service shall be transferred within 48 hours to trade wallet since the deposit maturity date. The fund redeemed transferring time may be extended due to system suspension. Redemption can be implemented at any time before the maturity date without interest income rewarded. If you cancel your Earn position before maturity date, you will not receive interest income at all, your principal shall be transferred to trade wallet.

  • 6.6 Auto renewal: bitcaslte Earn allows you to register auto renewal once your deposit matures at your first time registration or at any time. The renewed principal and interest income shall be a new Earn package and applied to the auto renewal term as same as your previous Earn package. Interest income of renewal deposit shall be accrued from at 00:00 UTC from the following date since the previous deposit matures. The renewal term can be canceled at any time before 23:59 UTC at the maturity date of the current deposit.

    Renewal Earn position has the length of deposit as same as the previous Earn position. The annual percentage rate (APR) shall be updated at renewal point of time if any.

    Bitcaslte reserves the right to cancel your renewal order at its sole discretion such as detection of mistake made or fraud.

  • 6.7 Interest rate: Annual Percentage Rate (APR) shall be updated and noticed on bitcastle's Earn dashboard. You should visit the website and update APR frequently from your end. bitcastle will not be liable for any loss suffered regarding to the change of APR. Your current deposit’s APR keeps remained during the time of deposit until its maturity regardless of APR’s update at bitcasle’s Earn dashboard.
  • 6.8 Cancellation and lock: bitcastle reserves the right to cancel, lock, deactivate or limit your access to bitcastle Earn at its discretion. bitcastle may cancel, suspend, withdraw or freeze certain transactions or positions in case:
    • You do not provide fully additional information to verify your identity or source of funds as requested by bitcastle; or
    • As requested by any government body or court in compliance with any regulatory body having jurisdiction over bitcastle; or
    • bitcastle detects any mistakes or fraud at your Earn account or scammer; or
    • Fail to provide sufficient additional information on time that bitcastle reasonably requested.
  • 6.9 Transaction details and history: You can view your transaction history and details in Earn wallet and Earn history. You should check your account and transaction history carefully. If there are any errors found, you must notify the customer support channel to resolve within 30 days since the date of Earn registration.

7. This Agreement is in the form of an electronic agreement, and the User shall carefully read, acknowledge and agree to the terms and conditions of this Agreement before operation. bitcastle reserves the right to alter, revise, modify, and/or amend this Agreement at any time in its discretion. Any such amendments will take effect immediately upon being published on the Platform. It is your responsibility to regularly check relevant pages on the Platform to confirm the latest version of this Agreement. Your continued access and use of the Platform and the Earn Service following any amendments to this Agreement shall indicate your acceptance of such amendments. If you do not agree to any such amendments, you should terminate your usage of Earn Service and cancel your Earn Account.

8. This Agreement may, at bitcastle’s sole and absolute discretion, be translated into a language other than the English language. You agree that any such translation shall only be for your convenience and the English text shall prevail in the event of any ambiguity, discrepancy or omission as between the English text and any translated text.