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Full Version: MinexBank interest rates..
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So the new interest rates has been applied.

Daily: 0.19%
Weekly: 1.34%
Monthly: 5.83 %
Quarterly: 17.5%
Half yearly: 35%
Yearly: 70%

MinexCoin is in $12.5 now. There is a long way to the $70 it has been up to.

Any thoughts about this?
Sucks thats all.
These are better rates. The previous rates were to high. They caused an unatural volatility. The rates they apply now are still very high. I dare you to find me a bank that gives interests like this. So if you ask me, this is ok and in the longer term it wil be better for the value of the coin.
The only mistake they made is to apply these new rules so abrupt. They should have done it slowly. It will take a while before the coin reaches acceptable hights again, but eventually it will get back.
Other coins don't give interest and most of them don't give ROI as high as 70% a year. So let's not be to greedy.
Yes the rates are much higher than what any bank offers and 70% pr. year is a crazy high return compared to anything else out there. The return is only good if the price of MNX is steady.
The price drop has gotten rid of the weak hands and the long term holders now will allow it to come back up..currently about $11.65 and I think a slow rise back to $15 - $20 in next month.

The quarterly interest at 27.6% is best option now, as annualized at 150% with compounding. I think this will lock up a lot of coins and not flood market with interest each month. It is 10% higher than originally planned..so a great deal. I will certainly be parking most for the 3 months when come due next week.

Also timeline has them saying new exchanges to come online by end of June.
(2018-05-16, 05:46 PM)cta102 Wrote: [ -> ]The price drop has gotten rid of the weak hands and the long term holders now will allow it to come back up..currently about $11.65 and I think a slow rise back to $15 - $20 in next month.

The quarterly interest at 27.6% is best option now, as annualized at 150% with compounding. I think this will lock up a lot of coins and not flood market with interest each month. It is 10% higher than originally planned..so a great deal. I will certainly be parking most for the 3 months when come due next week.

Also timeline has them saying new exchanges to come online by end of June.
Indead the value is low now, but I believe there will be less volatility in the future.
Interest rates are still worth investing in or holding MNX.