“BTC Hedging” is a new digital currency value-added service available to users of Cobo Cloud Wallet. Users can deposit BTC to subscribe. Earn revenue with an insured product.Get covered against loss of Bitcoin value.
[Purchase Limits] Each user may have a purchase limit refer to the product details page.
[Time Duration] This product is released on an ad-hoc, limited-time only basis. To be notified of new plan options, please follow our official announcements.
[Lock Cycle]The lock-in period of this product is subject to the product page. Plan purchases cannot be refunded.
[Gain Calculation] Gains will be calculated from the following day after the end of subscription date. Initial assets + gains will be transferred automatically after maturity date to users’ wallets.
[ Insurance Premium] You need to buy premium along with this product. Insurance(USDT)=purchase amount (BTC)*29.9 USDT；The insurer shall be liable for users' loss when the settlement price is lower that the agreed price. The premium will be returned to users' cloud wallet when the settlement price is above the the agreed price. Premium is paid in USDT and you should make sure there's enough USDT balance in your cloud wallet before your purchase. Otherwise the purchase will fail.
Ex. Linked Price: 8500 USDT; Maturity date: Mar 6, 2020; Duration: 5 days; Deposit currency: BTC.
Tommy deposits 1BTC and an insurance premium of 29.9 USDT in subscription period. On Mar 6, if the BTC settlement price falls below 8500 USDT, Tommy receives 1 BTC+ (8500-settlement price)USDT;
If the BTC settlement price didn't fall below 8500 USDT, and 8500 USDT≤ [BTC settlement price] <10000 USDT, Tommy will receive an insurance premium refund with extra reserve fund of 5 USDT. Settlement amount = 1 BTC + 29.9 USDT +5 USDT. If [BTC settlement price] ≥10000 USDT, settlement crypto will be USDT, and Tommy will receive 10000 USDT.