How does Bitso calculate the rewards I receive in USD?

Modified on:

The balance you have at the end of every day will be averaged with the previous day, and calculated with the APY (Annual Percentage Yield) formula, which repeats on a weekly basis.


This calculation gives out the exact amount that will be deposited every Monday in your account. 


The formula for Digital Dollars (USDC) APY is the following: 


APY = (1 + rate / weeks) ^ (weeks) - 1


Or alternatively (1 + rate / weeks)(weeks) - 1


Remember to always check your app for the latest applicable rates, as these could change from time to time. You can simulate the earnings that you could get in the app any time.

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