Not interested in trading but still want to grow your crypto holdings? Isn't the 0.05% per annum that your local bank offers to your savings account not enough?
Well, you're sure to find something appealing in the Binance Earn product suite.
Binance Earn-is your cryptocurrency savings account. Here you will find many options for earning passive income with your crypto currency holdings.
Introduction
You may have seen a famous quote from respected investor Warren Buffett:> If you don’t find a way to make money while you sleep, you’ll work until you die.
Binance Earn-отличный способ увеличить свои сбережения, пока вы крепко спите, зная, что ваши средства делают всю работу за вас. Существует ряд различных вариантов, каждый из которых имеет свои собственные предположения о вашем профиле риска, временном горизонте и желаемой прибыли. So let's see what it has to offer Binance Earn!
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What is Binance Earn?
it is a complete set of financial products that you can use to grow your crypto holdings. You can think of it as your cryptocurrency savings account. The difference between a regular savings account and this one is that cryptocurrency can do so much more!Let's take a look at the main categories of Binance Earn so you can figure out which one best suits your investing style.
Flexible savings
allows you to receive interest on your funds. It's really easy to use, and unsurprisingly, it gives you a lot of flexibility! You can deposit your funds, earn interest and redeem them at any time.
So, if you have money in your spot wallet, why not put it in a flexible savings account? Since you can access it at any time, it is easy to make these tools work for you as long as they are not used elsewhere.Please note that interest will not be charged on the day you sign up for the Flex Savings product. Instead, the first interest payment is calculated the day after your subscription.
Fixed savings
offers higher returns but less flexibility in accessing your funds. The difference here is that you set a predetermined duration for calculating interest on your funds. Why is it better this way? Well, this will generally give you higher interest rates than flexible savings products, since both the term and the interest rate are fixed. Fixed savings products are valid for 7 to 90 days. So, if you know that you will not need any funds elsewhere for a certain period of time, you can block them in order to earn a higher APY.
Credit activity
Credit Events are special events that pop up from time to time in the ;; ACTION ::. They usually have a limited supply, which means you need to subscribe quickly. They can offer even higher rates of return than fixed savings usually provide.
Otherwise, we could say that these loan products are very similar to fixed savings. But since they are only available from time to time, you can get higher rewards if you keep up to date with what's going on. Be sure to follow the announcements to secure your slot!
Blocked staking
By simply storing Proof of Stake coins in your spot wallet, you can earn rewards for staking your holdings - great, simple. However, there is also a way to get higher staking rewards.
If you commit to block your PoS coins for a period of 7 to 90 days, you can receive a higher reward. Basically, this is the same as flexible or fixed savings, only taking into account the rates.
In addition, some coins will also allow you to perform a flexible lock, where you deposit your funds for staking, but still retain the option to withdraw if you wish.
Launchpool
It is a token launch platform where promising projects can be funded by Binance's user base through a process called the initial IEO exchange offer. You've probably also heard of Crop Swing or liquidity mining, where users block funds in liquidity pools in order to "mine" a new token.
So what do you get when you combine IEO and high-yield farming? Launchpool. You can block your BNB, BUSD and other cryptocurrencies to get a share of the new token that launches on Binance. Sometimes, tokens even run on both Launchpad and Launchpool at the same time.
Launchpool is a great way to earn passive income as the cost of getting new tokens is only the alternative cost of blocking your tokens. However, you can exchange them at any time during the event.
Asset Management
The Asset Management tab gives you access to some of the more advanced savings products. But don't worry, they're still pretty easy to use. Let's see how they work.
Binance Liquid Swap
A liquid swap is a special type of exchange that values assets using a mathematical formula rather than an order book. If you read their article on Uniswap on the website, you will learn how this liquidity protocol works. Another more popular term for this is AMM Automated Market Maker.Liquid swap is somewhat similar to Uniswap and other AMMs such as Curve Finance, but is operated by Binance.It is an extremely easy way to quickly convert between assets like stablecoins with low fees and slippage.This is great, but what does this have to do with the savings? Well, just like Uniswap and other AMMs, you can also become a market maker. Just deposit one (or more) supported stablecoins and start earning interest. Who knows, the profit you get here might even be higher than if you were using other Binance Earn products.
Double savings
Binance Dual Savings are a great way to earn spin-off income no matter which direction the price is going. This allows you to maximize the return on your savings while minimizing price risk. How it works? Let's take a quick look. You deposit cryptocurrency and earn income from two assets. You invest your deposits, fix your income, but you earn more if the value of your deposits increases while they are blocked.It's just a way to control your risk. If you'd like to read about this in more detail, check out the website for a quick guide to double-saving Binance.
BNB Vault
BNB Vault is a BNB profitability aggregator that combines flexible savings, BNB DeFi staking and Launchpool to give you the best APY profitability. Getting started with BNB Vault is easy.
After placing the BNB, you will receive the BNB Vault assets. On the second day, interest will begin to accrue, and rewards will be distributed to your account on a daily basis. You can redeem your funds at any time in two ways: fast redemption and standard redemption. Fast redemption allows you to redeem your BNB on the same day you make a request, but you will lose interest accrued on that day. With a standard repayment, your funds will be returned the next day, but you will still be eligible for interest accrued on that day.
Final thoughts
Phew, there are quite a few options for generating passive income! Making your savings on Binance work for you has never been easier, and profits can be good too. Binance Earn allows you to choose the product that best suits your investing style, so you can just sit back and let your funds do the job.
Do you still have questions about bitcoin and blockchain? Visit the on-site Q&A platform at the academy section Binance ?
community will answer your questions.
P.s
On my own I want to add that I also previously considered it stupidity and some kind of divorce
now Bitcoin is worth $ 55,000 And it continues to grow and in place with it the entire crypto-currency space, When I got involved in this, I can say with confidence that my one and only investment in this exchange was $ 20 now 3 months later I made money with $ 20 - $ 1344 and this is absolutely passive without investing all thanks to the above mentioned and this is just the beginning! For basic work, passive profit is not a hindrance below I will present a photo of my page at this stage of passive income on Binance, plus in addition to everything on the Internet there are a lot of sites that break crypto coins for free, which you can also collect on your wallet on the exchange! Take care of yourself to all health!