Binance provides you with an opportunity to earn a passive income. Unlike many other exchanges, Binance is a platform that allows you to earn interest on crypto, even when you are not actively trading in it. Binance provides various ways to earn for its users.
So, how can you invest in Binance to earn interest.
When it comes to fixed savings, crypto traders can invest in Binance just like they can with a regular fixed account from a bank. Binance earns interest in a savings account. However, you will not be able to access your crypto for a fixed amount of time. This means that you are not allowed to withdraw or trade it. After the agreed time lapses, you earn Binance coin at a certain fixed percentage. Usually, Binance offers a higher rate of interest on fixed savings than banks. The fixed period usually ranges from one week to three months. To estimate the interest you will earn on your fixed savings, you can rely on the Binance savings calculator.
You can opt for the flexible savings option and watch it earn interest for your Binance. To earn Binance coin this way, you need to open a flexible savings account. Deposit and withdraw funds as usual and a certain amount of interest will be credited to your account.
If you are looking for higher interest on your crypto, you could try the Binance Locked staking option. Lock down your tokens for as little as 7 days and you will earn guaranteed interest. There are a total of six locked staking options that you could subscribe to. Find the most suitable for your endeavors and begin earning.
Participate in DeFi Staking
DeFi staking refers to decentralized finance. With this program, you can earn significant amounts on your tokens. DeFi provides several annual yield opportunities, with an interest rate that can rise as high as 60% using DAI, BNB, BUSD, and so on. YouHodler is one of the platforms that you can leverage to earn BUSD with the utmost ease. Besides, YouHodler is a solid exchange that offers convenience in depositing and withdrawing coins like Binance to earn interest.
Earn using your Binance card
You can also earn BNB coins by using your Binance Card. All you need to do is use this card to purchase items from supporting merchants. The cashback starts at 1%. However, this interest rate can rise to 7%.
The Binance Dual savings option is also worth exploring. It allows you to maximize the interest you earn and reduce risk. What happens is that crypto with a couple of assets is deposited in your account. You increase your holdings during the predetermined locked time and earn more.
Binance Liquid Swap
Another popular option to earn tokens on Binance is the Binance liquid swap. It uses a mathematical formula to price assets instead of an order book. It works like an AMM and you can use it to transform yourself into a market maker. When you allow one or several types of coins to be deposited, you begin to earn interest on your token.
Binance allows you to earn interest on your token in several ways. All you need to do is understand the methods we have listed above and decide what works best for you.