Mexc Charge Interest

Are you considering venturing into margin trading on Mexc? If so, it’s important to understand how interest rates are calculated to make informed investment decisions. In this article, we’ll guide you through the process of checking interest rates and explain how interest payments work on Mexc’s margin trading platform.

How to Check Interest Rates

To check the current interest rates for cryptocurrencies on Mexc, follow these steps:

1. Open the Mexc trading interface.
2. Click on the “Loan” button.
3. A borrowing pop-up window will appear, displaying the real-time hourly interest rate for the selected cryptocurrency.
4. The system determines the loanable amount based on the available principal in your margin account.

Payment of Interest

Interest on Mexc’s margin trading platform is calculated using simple interest and based on the hourly interest rate. Here’s how it works:

• The interest calculation hour begins from the time the loan is successful.
• Every 60 minutes counts as 1 hour, even if the loan is successful in less than 60 minutes.
• Interest is calculated once when the loan is successful, and subsequently charged every 1 hour.

When it’s time to repay your loan assets, the loan order serves as the unit for repayment. The principal, including currency financing and interest, must be returned in the same currency in which the loan was applied for.

Let’s illustrate this with an example:

Suppose you borrow 0.1 BTC with a principal of 1000 USDT in your margin account. The hourly interest rate is 0.0033%.

• If you return the loan within one hour, you need to repay 0.1000033 BTC. If your account holds less than 0.1000033 BTC, you can convert USDT into BTC or recharge BTC to successfully repay the loan.

• If you return the loan in the 19th hour (within 20 hours), you need to repay 0.100066 BTC.

In the normal mode, it’s your responsibility to manually repay the loan and interest promptly to avoid any loss of funds due to forgetfulness.

However, in the auto mode, Mexc’s system automatically handles the borrowing and repayment process for you. It assesses your available assets and the number of orders you’ve placed to determine if borrowing is necessary. When you place an order, the system starts calculating the interest. If you cancel an unfilled or partially filled order, the system automatically repays the cryptocurrency to reduce the interest generated by your loan funds.

Please note that trading cryptocurrencies involves significant risks and can result in the loss of your invested capital. The information provided in this article should not be considered as financial advice. It is essential to fully understand the risks involved before making any investment decisions.

Now that you have a better understanding of how interest rates are calculated and paid on Mexc’s margin trading platform, you can navigate the world of cryptocurrency trading with confidence. Happy trading!

[Disclaimer: Trading crypto involves significant risk and can result in the loss of your invested capital. The materials are not related to the provision of advice regarding investment, tax, legal, financial, accounting, consulting, or any other related services and are not recommendations to buy, sell, or hold any asset. Binance Learn solely provides information, but not financial advice. You should ensure that you fully understand the risk involved before investing.]