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Easy Matrixport Wallet Electricity pre-pay for Bitdeer FAQ

Updated: Nov 11

Currently, the maximum number of days of electricity bills that can be prepaid on Bitdeer is set to 30 days.

This leads to the fact that it is time for all of us to get a MatrixPort wallet to pay for electricity.

Withdrawal Rules

The problem is that the MatrixPort wallet requires verification of the KYC level 2 in order for you to be able to withdraw your money from Matrixport to any wallet, for example Binance or another personal wallet.

matrixport withdrawal
Matrixport withdrawal limits
If it is not difficult for you to provide data about yourself and go through the identity verification procedure - just go through them and indicate Matrixport as a wallet to receive mining income.
Matrixport settings
Bitdeer settings for Matrixport with complete KYC

Thus, you will always have enough BTC on your balance sheet to pay for electricity. And upon completion of the contract, you can withdraw the balance or leave it to pay for new mining contracts.


How NOT to pass verification in MatrixPort

But, if your goal is to maintain anonymity and you want to receive BTC to your personal wallet, then the following information is just for you.


But at the same time, there are no restrictions on deposits. Thus, in order to prepay electricity for the entire duration of the contract and not worry that mining may be stopped, we just need to monitor the positive balance on the MatrixPort wallet.


An important point will be that the payment for electricity can be debited from any MatrixPort account:

matrixport account
Matrixport: Select account

Have you already understood what needs to be done?

Yes, that's right, we just calculate the amount of cryptocurrency that is needed at the moment to pay for electricity and deposit it on the MatrixPort balance.


It should be understood that the payment for electricity will be debited once every 3 days, when the days of prepaid electricity will pass. And each time the write-off rate will be calculated. Let's take a look at my November 60-days Promoplan for mining as an example:

bitdeer promo

Thus, we need another 121.5 USDT to pay for electricity for the entire duration of the mining plan.

We can calculate how many BTC we need at the rate at the moment: $ 121.50 / 68000 = 0.00178676 BTC


But since electricity is calculated in dollars at the time of write-off, the BTC rate may differ in a month from the current one.

  • If the BTC rate is higher, you will pay less for electricity and the balance will hang on the balance sheet of MatrixPort (you cannot withdraw without KYC-2)

  • If the BTC rate is lower, you will not have enough BTC to pay for the last days of mining and will have to deposit again.

This also applies to any other cryptocurrency, the rate of which may change in relation to the dollar.


Using USDT TRC-20 to pay for electricity

In order not to worry about cryptocurrency rates in relation to the dollar at all, you just need to use the MatrixPort wallet deduction from USDT.
matrixport usdt
Auto-pay with USDT from Matrixport balance

In this case, I will simply deposit 121.5 USDT to MartixPort wallet with a commission of 1 USDT and write-offs will always occur 1:1, regardless of the cryptocurrency market.


Now let's go in order, step by step.


Step 1: Binding MatrixPort of a wallet without KYC

To start using MatrixPort in your Bitdeer account, click on your email in the upper right corner of the Bitdeer website and then click on "MatrixPort wallet". The following popup will appear:

Bitdeer matrixport

Click on the button "Active the Matrixport wallet", and in the next window confirm the entrance to the MatrixPort with the code that will be sent to you by email:

Bitdeer matrixport

You will be taken to the Matrixport dashboard and then go to the Deposit tab.


Step2: Deposit to Matrixport USDT balance

Bitdeer matrixport

Now, in the Deposit tab, I select USDT as the currency, and TRC20 as the protocol for transferring funds.

Bitdeer matrixport

I sent 122.5 USDT through TRC20 from my Binance account and receive 121.5 USDT on my Matrixport balance (the fee is 1 USDT for any amount)

Bitdeer matrixport

Now go back to the Bitdeer website and complete your purchase with the following settings:


Step 3: Confirm Order Settings

Bitdeer: Best settings
Bitdeer: Best settings

That's all, so I did not pass the Verification at MatrixPort, but at the same time I set up automatically payment for all the days of electricity in advance at the current BTC rate.


Manual Payment from non-verified Martixport

In addition, you can also pay for electricity for a period of 10 to 30 days.

  • The minimum number will always be 10 days.

  • The maximum number is up to 30 days, but no more than 30 days in total.

Let's take an example:

Bitdeer mining plan

As we can see, the contract has 9 prepaid days left, then we can pay for it from 10 (min) to 21 (30 max - 9 prepaid already) days.

Click on "Pay for Electricity" and choose amount of day you want to add:

bitdeer electricity

You will be transferred to the payment window, where you will find your funds on the Matrixport wallet.

Let me remind you that this Martixport account has not been verified (KYC-0).
bitdeer pay electricity

bitdeer pay

Electricity paid with NO KYC
Electricity paid with NO KYC

And now the order has been paid. But it is better to have 0.5-1 dollar more on your balance. If the rate is 0.99 (and this happens), then the button will light up gray:


Conclusion

Matrixport is a tool for paying for contracts and for payments for electricity on the Bitdeer cloud mining service.

You can withdraw funds from it only after going through the User Verification (KYC) procedure.

But if for some reason you do not want to do this, there is always an alternative way described above.
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