What’s new with Cryptsy Points?
We have changed how Cryptsy Points are awarded. Previously it was based on how much you paid in fees. However, this was not beneficial for users who perform many “Maker” trades since they do not pay fees. We have changed it so it is now based on your trade volume.
How Many Points Will I Earn?
For every 1 BTC of trade volume you have, you will earn 0.1 Cryptsy Points. Cryptsy points are divisible down to 8 decimal places, so even if you only have 0.1 BTC of trade volume you will receive 0.01 Cryptsy Points. You will also earn 20% of the points each of your referrals earn.
So lets say you had a trade volume of 1 BTC in a given day and you had 10 referred users who also had 1 BTC in trade volume each on that day.
Points Earned Directly 0.1 CP
Points Earned from Referrals 0.2 CP
Total Points Earned that Day 0.3 CP
What Are Balance Rebates?
Balance rebates are basically a cut of our collected transaction fees for users who hold balances in certain currencies on our exchange. Currently the currencies we collect fees on are BTC, LTC, and USD. Users who have a balance in these currencies will be included in the pool of users who get a daily rebate in the same currency.
How Much Will I Earn in Balance Rebates?
We pay a 2% rebate. Balance calculations include available and held for order balances. So even if all your funds are held for open orders, they are included in the calculation.
So for example: We collect 10 BTC in trade fees in a day. This leaves 0.2 BTC available for rebates (2%). If you had 100 BTC on account and between all users the sum of all balances was 10,000 BTC, then you would receive 1% of the total rebate for that day. In this case that would be a 0.002 BTC daily rebate. Balances and rebates are calculated and distributed separately for each of the BTC, LTC, and USD currencies.
When Do I Get Paid My Cryptsy Points and Balance Rebates?
The program which calculates payouts and makes disbursements runs after midnight EST every day. Usually around 2am EST.