Binance Earn: Innovative Ways to Earn Passive Income
In Cryptocurrency, there are several ways to make money ranging from trading, staking, farming etc. Still many do not find this attractive or they just simply do not want to trade, as such they sought other means they can put their money to work for them while asleep.
Binance Earn is yet another innovative way to increase earnings for those who aren’t interested in trading cryptocurrencies. This will also appeal to people who do not want to leave their cash idle in the bank with little or no interest.
Binance Earn is likened to your crypto Savings account with several opportunities to make passive income with your crypto holdings. There a number of ways to earn passive income his Binance Earn depending on one’s risk tolerance, profit appetite etc.
Categories of Binance Earn
Flexible savings: This allows you to earn interest on your funds with great flexibility for a deposit, earning interest and withdrawal at any time.
Note that the interest starts counting from the next day of subscription.
Fixed Savings: This offers a greater return with less flexibility to access your funds. The major difference is that one has to set the duration the funds can be locked up to accrue interest. Fixed Savings products can range from 7 to 90 days. So, if you know you won’t need some funds elsewhere for a certain period of time, you can lock them to earn a higher APY.
Lending: These are special activities that often pop up on the announcement page of Binance. These generally have a capped supply, meaning you’ll need to be quick to subscribe. These can offer even higher returns than Fixed Savings usually does.
Locked Staking: Simply holding Proof of Stake coins in your Spot Wallet, you can earn staking rewards on your holdings. Also when you commit your PoS coins to be locked for periods ranging from 7 to 90 days, you can earn a higher reward.
Launchpool: Popularly called the Binance Launchpad is a token launch platform where promising projects can get funded by the userbase of Binance through a process called an Initial Exchange Offering (IEO). This is a great way to earn passive income as the cost of getting the new tokens is only the opportunity cost of locking your tokens.
The BNB Vault is a BNB yield aggregator that combines Flexible Savings, BNB DeFi Staking and Launchpool to give you the best APY returns. It’s very easy to start earning with BNB Vault.
After staking your BNB, you will receive BNB Vault assets. The interest will start to calculate on the second day and rewards are distributed to your account on a daily basis. Your funds are redeemable through two methods: fast redemption and standard redemption. The fast redemption allows you to redeem your BNB on the same day you make the request, but you will lose the interest accrued on that day. The standard redemption will return your funds on the next day, but you will still be entitled to the interest accrued on that day.
Binance Earn lets you choose from a range of investment opportunities to increase your income or earn passive income. More like let your money work for you while you sleep. Those who aren’t interested in trading or even complete noobs can use this opportunity to maximize their earnings. Such is the abundance of opportunities that abound in this Cryptocurrency space.
Earn while you sleep!