Frequently Asked Questions
Simply click on the question to drop down to the answer.
WHAT WE DO
- What does your company do?
- Simply put, we trade cryptocurrencies, such as bitcoin and ethereum against fiat currencies and other cryptocurrencies.
- How do you manage to sustain the rates that you pay?
- Just to give you an idea of how thorough we are about what we do, before the rollout, we'd been testing our proprietary trading system against all possible scenarios for 3 full years.
- How long have you been doing this?
- We have been in the cryptocurrency business since 2013.
- Can I check your company registration and financial details?
- We are open to any request for company registration details. Feel free to email us should you be interested in viewing them. We will not disclose the details pertaining to our daily operations. Keeping this information confidential is absolutely critical to operations of our company.
- How can I make a deposit?
- We accept bitcoins and ethereum. To make a deposit using either of these two, you'll need to buy bitcoins or ethereum first. Click here to find step-by-step instructions on how to get yourself a bitcoin wallet and buy bitcoins and then make a deposit into your Napston account.
- What is the minimum deposit requirement?
- Since the price of both cryptocurrencies is subject to fluctuation, the minimum Bitcoin or Ethereum deposit must be equivalent to $100.00 at the time of deposit.
- How do you treat separate deposits into my account?
- Here is how it works. You can open as many individual investment positions within your Napston account as you want to. To open an investment position you need to make a deposit.
So, for example, you can have just one investment position and add more funds to it any time. Or you can have several positions running at the same time and make new deposits to any one of them whenever you want to. Or you can start a new investment position with each new deposit you make. In other words, you are in complete control over how you deposit funds. The only limitation is that you cannot have Bitcoin and Ethereum deposits within the same investment position. So, an investment position can only be funded with one type of cryptocurrency.
- Can I open a new investment position at any time?
- Yes, you can freely open as many individual investment positions at any time by simply making a deposit.
- Does each deposit have its own maturity term?
- It's important to understand the difference between an investment position and a deposit. Each deposit you make is either added to an existing investment position or starts a new one, you get to choose that. Each investment position has its own lockout term of 35 weeks that starts from the date of the initial deposit into that position.
- How long will it take for my Bitcoin deposit to clear?
- Normally, it should not take more than 10 minutes. However, in case of larger deposits, we reserve the right to wait for several additional confirmations from the blockchain which may lead to a longer delay, but not more than 60 minutes.
- Can I compound my earnings?
- Yes, compounding option can be set for each investment position individually in the Deposits area of your Napston account.
- What compounding options are available?
- You can choose from 0%, 25%, 50%, 75% and 100% compounding rates. 0% means that none of your interest is compounded while 100% will have all of your daily interested compounded.
- Can I set compounding on some of my investment positions?
- Yes, compounding option can be managed for each investment position individually. You can do this in the Deposits area of your account.
- How do I withdraw my earnings?
- You can withdraw your earnings any time. You can submit a withdrawal request from the Withdrawals area of your Napston account.
- How often can I withdraw from my Account?
- You can make withdrawals from your account any time and as often as you need. Please note that we charge a small fee on each Bitcoin and Ethereum withdrawal.
- What are the withdrawal limits?
- Minimum withdrawal amount in Bitcoin or Ethereum must be equivalent to $1.00 at the time you place a withdrawal request. There is no maximum withdrawal amount limit, you can freely withdraw any amount you have in the Available Balances.
- Can I change the Bitcoin address for my withdrawals?
- Yes, you can do this. However, for security reasons we will not process any withdrawal requests during 24 hours from the moment you changed the withdrawal address.
- Can I convert my Bitcoin earnings into Ethereum and vice versa?
- No, this option is not available at the moment, but we are working on adding it.
- When will I be able to withdraw the deposits I made?
- You can do that as soon as the investment position you made your deposits into matures. The maturity term is 35 weeks from the date you made your first deposit into that position.
- When can I withdraw compounded interest from my account?
- The compounded interest is stacked up in the investment position that this interest is earned on. In other words, each compounded interest payment is treated like a new separate deposit into the same position. So you'll be able to withdraw those funds when the investment position matures. The maturity term for every position is 35 weeks from the date you made your first deposit.
- What interest do you pay on my investments in Bitcoins?
- We make weekly interest payments on every open investment position in your Napston account.
There are three fixed weekly interest rates available to our customers depending on the current principal amount of each open investment position:
0.9% on principals amounts from 0.001 BTC to 1 BTC,
1.2% on principals amounts from 1 BTC to 10 BTC
1.5% on principals over 10 BTC.
- Where can I keep track on my interest payments and other stats?
- You can find all that information neatly arranged in the Main Figures and Deposits areas of your user account.
- How do you pay interest if I have several open investment positions?
- We pay interest on each investment position (in either Bitcoin or Ethereum depending on the deposit method used) separately.
- How often do you pay interest?
- We pay weekly interest every Friday. Naturally, official holidays we observe are excluded from the weekly interest calculations So, if any of the official holidays that we observe fall on a particular week, the total weekly interest rate will be recalculated accordingly.
- Which holidays do you observe?
- We observe US and Hong Kong holidays.
- Do the interest rates change once the principal amounts go beyond the minimum required to get a higher interest rate?
- Yes, this will happen automatically according to the schedule above.
- Can I convert my Bitcoin investment positions into Ethereum?
- No, you cannot do that for the entire duration of the investment term.
- Can I re-invest my earnings? If yes, how are such deposits treated?
- Yes, you can re-invest any part of your or all of your earnings any time and without any limitations. Each new deposit is treated as a separate one, just like a regular Bitcoin or Ethereum deposit.
- How does your referral program work?
- Refer your friends, family, blog readers or followers to us using a referral link that will be provided in your Napston account.
- Once your leads open accounts with us, they automatically become your referrals.
- We will pay a 5% referral credit for each Bitcoin and Ethereum deposit your referrals make.
- The referral credit amount will be added to your available balance and can be withdrawn any time. There are no limits as to total referral commission amount you can earn.
- What referral credits are available?
- By default, we offer a flat 5% referral credit for each Bitcoin or Ethereum deposit your referrals make. An increased referral commission percentage can be negotiated for individual high volume deposits.
- How do I keep track of my referrals and the credits I earn?
- You can find all the information related to your referrals in the Referrals area of your Napston account.
- How are referral credits paid on different deposit methods?
- We pay referral commissions in the same cryptocurrency as the one used for the actual deposit. In case of deposits from available balance, the commissions are paid into the same type of balance (Bitcoin or Ethereum) as the one the deposit was made from.
- How can I refer others?
- Engage in any legitimate form of promotion and share your personal referral link (can be found your Napston account).
Upon request, we'd be happy to provide you with our advertising banners.
- Are there any specific limitations when it comes to referring others?
- You cannot refer minors.
- You cannot refer using unsolicited emails or any other illegal form of advertising.
- Any members caught violating our rules will have their credits voided and accounts terminated.
- How many accounts can I open?
- We allow one account per person.
- Which security precautions are you observing in order to keep your Bitcoin accounts secure?
- We are using a suite of tools to keep our bitcoins secure. Just to name a few, we are using SSL encryption and state-of-the-art cold wallets with multi-signature access. Most importantly, at all times we are employing 24/7 real-time human controls and surveillance.
- I want to change my Bitcoin address for withdrawals. Is it okay?
- Yes, no problem with that at all. However, be informed that we will not process withdrawals request during the first 24 hours after you make that change. This is an efficient and vital security measure.
- Do I have to report my Bitcoin earnings?
- If you are looking for a yes-or-no answer, then definitely yes. Whenever you buy, sell or trade bitcoins, there's an obligation to report that to your local tax authorities. However, the procedure differs by country. Please check this convenient table here, it shows Bitcoin's legal status by country.
- I'm a US resident, how do I report my Bitcoin earnings?
- The US Internal Revenue Service (IRS) treats Bitcoin as property, not currency (unlike most other countries in the world). So, here are a few things you need to keep in mind. First, if you bought and later sold bitcoins at some point, that means that you will either have capital gains or losses. Second, any income that you make in bitcoins is taxable. Third, when spending or investing bitcoins you need to keep detailed records of how much the spent amount was worth in USD. Fourth, keeping detailed records of all Bitcoin-related transactions for later is an absolute must.
- As a Bitcoin investor, what are my tax obligations?
- As always, it's your indisputable responsibility to report and pay taxes on your Bitcoin investments. Below you will find a list of useful tips on doing your taxes right when investing in Bitcoin if you are a US resident. Please keep in mind that we are not trained tax professionals, therefore, we strongly recommend that you consult one before proceeding further.
- Establish a record-keeping system.
- Record dispositions of bitcoin on Schedule D and Form 8949.
- Identify your cost basis method.
- Identify your exchange rate.
- Keep separate wallets for short-term trading, long-term buy-and-hold positions, and personal spending.
- Normal capital gains strategies apply: offset gains with losses, time dispositions to qualify for long-term treatment, harvesting losses, and harvesting gains.
- Watch the tax rates: gains subject to the 3.8% net investment income tax.
- Identity the tax treatment for bitcoins received by "mining" them - may be business income subject to the income tax and self-employment tax.
- Deduct any investment-related expenses (Schedule A).
- Deduct any investment interest (Schedule A).
- Deduct tax preparation and advisory fees related to determining the tax treatment of bitcoins (Schedule A).