Many crypto holders keep their assets on exchanges such as Binance and don't pay attention to the fact that not only they can benefit from their coins' price going high, but there are also many investment opportunities offered by Binance that allow you to accumulate more coins and earn passive income.
Binance earn refers to a number of investment products that the user can choose from depending on his coins and investment/trading strategy.
Those investment products can be broken into these key features:
Guaranteed:
- Savings
- Locked Staking
- Launchpool
- BNB Vault
High yield:
- Liquid Swap
- DeFi Staking
While high yield products usually provide higher than average gains, they are also associated with higher risks. You should always invest what you can afford to lose.
Now let's have a quick overview of each of these products:
- savings:
Savings is a product that allows users to earn interest from their assets, with each cryptocurrency offering a different interest rate (APY). It can be broken into three products:
- flexible savings:
It is one of the safest products in binance earn that allows you to earn interest on daily basis. You can withdraw your assets at any time with no fees charged.
- Locked Savings:
Locked savings are locked for a duration that the user chooses. Once the user subscribes to this product, he can't withdraw his assets until the that duration is over. Locked savings usually provide higher gains than flexible ones.
- Activities:
Activities is a product that allows a limited number of users to lock their crypto for a specific duration and earn interest.
- Locked Staking:
Locked Staking is a process in which a user locks his crypto holdings in order to support the operations of a blockchain network for a duration that he chooses. Like locked savings, his assets can't be withdrawn during that duration.
- Launchpool:
Launchpool is a product that allows users to stake their assets (usually BNB and BUSD) and earn rewards in the form of new tokens. What I like most about this product is that all the coins that are launched using binance's launchpool have a drastic increase in their prices, which leads to even greater rewards for this product's users.
- BNB Vault:
BNB Vault is a yield aggregator that combines the best assets of Launchpool, Savings, and DeFi Staking combined.
- Liquid Swap:
Liquid Swap is a liquidity pool consisting of different liquidity pools, and each liquidity pool contains two digital tokens or fiat assets.
By providing liquidity in the pools, you become a liquidity provider and earn transaction fees and flexible interest.
- DeFi Staking
DeFi is commonly seen as one of the biggest trends in the crypto space nowadays. Binance DeFi Staking acts on behalf of users to participate in certain Decentralized Finance (DeFi) projects, obtains and distributes realized earnings.
Thank you for reading this far. Start earning today by opening an account on Binance and buying crypto.
If you have any questions, feel free to ask in the comments.
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