If you use the auto-renew electricity fee function with Matrixport, the electricity fee will be deducted from your Matrixport balance automatically when the plan’s remaining days of electricity are less than 3 days, meaning it will automatically charge the subsequent electricity fee from your Matrixport wallet balance. The system will renew the electricity for 3 days and create the corresponding electricity order (find in “My Orders-Electricity Order”), it is more convenient and cost-effective to auto-renew electricity fee with Matrixport.
The deduction would fail should the wallet balance be insufficient, and you would need to charge the wallet balance in time or pay the electricity fee manually, otherwise the mining would be interrupted and along with a loss of revenue. While purchasing a new plan, we suggest users select “Matrixport wallet” as receiving wallet so that to keep enough balance in your Matrixport.
How to Open Auto-Renew Electricity Fee Function
Users need to bind their Matrixport account to BitDeer account before opening the function, here is how: How to Auto-Renew Electricity with Matrixport Then users can open the auto-renew electricity fee function by following the following steps:
1. Open the Function when Purchasing the Plan
Confirm Order Page - Pay for Electricity - Subsequent payment method - Select 'Auto-Pay with Matrixport Wallet', select the withholding cryptocurrency account of your Matrixport wallet (btc/bch/ltc/eth/usdt etc.). We suggest users select “Matrixport wallet” as receiving wallet so that to keep enough balance in your Matrixport to withholding.
2. Open the Function for Active Plan
If you need to open the auto-renew function for active plans, go 'Hashrate - Manage - Hashrate Management - Auto-Renew electricity fee 1', turn on the slider. You may turn the function on and off or convert the cryptocurrency account.
The electricity fee will be deducted from your Matrixport balance automatically when the plan’s remaining days of electricity are less than 3 days, The system will renew the electricity for 3 days and create the corresponding electricity order (find in 'Electricity Payment Record' or ' Orders- Auto-Renew Electricity Order')
Also, the deduction will be notified to you by email.
- If the balance of Matrixport account is insufficient, the auto-renew would fail. You will receive an email reminding you of the failure. Please recharge Matrixport wallet as soon as possible according to the email, or choose manual renewal, so as to avoid the loss of income caused by the discontinuation of the service.
- Due to the unpredictable withholding time exchange rate. it is not recommended for users who are accustomed to paying for their electricity when the exchange rate is high to use this auto-renew function.
- It is recommended that the withholding currency be consistent with the corresponding plan currency, so as to ensure an adequate account balance in your Matrixport wallet (given select “Matrixport wallet” as receiving wallet)
- If you turn on the withholding function and manually place the electricity order during the period, the system will not trigger the withholding by default (even if the remaining days are less than 3 days at this time). If you have not paid after placing the electricity order manually, you will enter the withholding logic again after the expiration of the order. which means that the electricity fee auto-charge feature will not be implemented if there are any pending electricity orders or outstanding fees for your plan. Please pay on time to avoid disruption to your mining services.