I am trying to understand the binance gbp flexible savings product.
I made some money in bitcoin and had a gbp balance of £500000
So I decided to leave it in the savings account
£500000/100*5% = £25000 / 365 equals interest which was fine. I was getting £68.49 a day.
Then I brought some eth and my balance went down to £479500
The Interest was correctly worked out again. About £65.67 which is also correct.
Then I noticed the apy changed to 4.68% and my interest went down to £36.13
Then the following day it went to 4.36% and again the interest paid was £36.15
By my calculations and looking at the above it should be £479436.52/100*5 = £20903.43 /365 should be £57.26
But I am getting way less at £36.13
Not sure how they are working this out seems strange. Still more than I would get with my bank but just trying to see how it is worked out....
Any help please as I was using this interest to buy crypto daily and it was a nice chunk which seems to be halved now?
Thanks for reading and understanding.
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