Though their APY may be lower than most yield farms, Binance offers users the safety of better security and customer support services through their centralized exchange.
Introduction to Binance Earn
Binance earn is a feature on Binance exchange that provides you with opportunities to earn passively using crypto tokens. The earn option is different from spot and futures trading as it is a passive investment strategy that solely requires users to deposit or stake tokens into the Binance earn suite.
Here are the products available through Binance earn: flexible, fixed-term, and launch pool asset management.
Flexible Savings
Flexible savings allows you to deposit your cryptos and receive interest from your deposited funds daily. This is superior to holding as it gives you daily interest, and it can be withdrawn or taken back at any point in time together with your interest gained.
Fixed-Term Savings
This is very similar to the flexible savings, only that it has a fixed time your deposit would stay on the platform before available for withdrawal. If you are withdrawing your funds before the due date or approved date, you will lose your interest. The fixed-term staking has a limit of users allowed to participate. Once the capital limit has been reached, the subscriptions to the fixed-term savings are closed.
Binance Swap
Binance swap or the Binance liquid swap uses automated market-making technology and liquidity pools. It a combo of centralized and decentralized finance service, providing users high annual returns through providing liquidity on the Binance decentralized exchange (DEX). Users are given the option to swap to related cryptocurrencies in the liquidity pool and enjoy low slippage and handling fees. Assets can be removed at any time with a small withdrawal fee.
Dual Saving
This allows users to subscribe to one product with a particular asset, and when the effect expires, the user can settle for another asset. On the end date, the final settlement currency is determined by the comparison made between the settlement price and the strike price, ensuring one of the two assets can obtain a benefit. Orders cannot be redeemed in advance once the subscription is successful because it is locked for the selected time limit.
BNB Vault
Binance BNB vault is a capital-guaranteed investment product with an easy interface. It allows users to maximize income on your BNB using centralized and decentralized finance in a single step by integrating various binance products into the binance ecosystem. The BNB vault allows users to maximize yields and get all benefits from every available opportunity.
Fixed savings gives higher interest than flexible terms and the time duration is from 7 to 90 days.
Lending Activities
Lending activities are similar to fixed-term savings. It has a capped supply, meaning you’ll need to be swift to subscribe to the plan, plus it yields a higher APY. So it’s a replica of fixed savings, but it’s not regular like fixed savings.
Locked Staking
By holding proof of stake coins in your spot wallet, you can earn staking rewards on staking. It can be locked for 7 to 90 days, but locked staking can be both flexible and fixed, but it varies per coin. Not all permit you to withdraw.
Launchpool
The launch pool is the famous Binance launchpad, it’s a token launch system where Binance users fund tokens through initial exchange offerings (IEO). This consists of yield farming or liquidity mining, where users lock funds in liquidity pools to receive new tokens. The combination of IEO and yield farming gives us the Binance launchpool. Here users can stake your BNB or any coin listed on the launch pool listing to get a share of the new token listed on Binance.
For those who wish to learn more about the Binance Earn services check out the following article:
Cryptonomics: Binance Earn Explained
Steps in Using the Various Options in Binance Earn:
Go to the Binance page https://www.binance.com/en. Select the finance option at the top section of the homepage and select the binance earn option.
The earn options are grouped into three; flexible terms, fixed terms, and high-risk savings.
Flexible Terms
Flexible Savings:
Select your available crypto token and transfer to get yields
Launchpool:
Click on the stake now button
Click on the stake button and deposit your BNB
BNB Vault
Select the stake button
Put in the amount of BNB you wish to stake and confirm the transaction through selecting the stake button
Fixed-Term Savings
Fixed Savings:
Click on transfer for the token you want to provide
Then select the number of days you subscribe to for your tokens to be locked
After that, confirm the transaction once you have read the Binance Savings Service Agreement
Locked Staking:
Select your preferred coin and click on stake
Chose the number of days and tokens you wish to provide and confirm the transaction.
Activities:
Select your preferred token to provide from the available products and click on the transfer
Select amount of token and supply
High-Risk Staking
DeFi staking:
Choose your desired token and select if you want it locked or flexible. Input the amount of token you want to stake. Note there are limits to the maximum and minimum token deposit. Then confirm your purchase
Dual Investment:
Select your token to deposit
Input the amount, then confirm the transaction
Liquid Swap:
NOTE: if you want to use Binance earn and you don’t have enough of the crypto token you wish to use, you can swap between other here:https://www.binance.com/en/swap
Conclusion to Binance Earn
Binance is the world-leading exchange, and it is very reliable compared to other exchanges or yield farms. Though their APY may be lower than most yield farms, Binance offers users the safety of better security and customer support services through their centralized exchange. This security is something many DeFi protocols lack, making users wary of giving up custody of their assets.
Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto! Check out the DeFi Direct Linktree for all the access links!
For those looking for tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Related News
A New Solana Memecoin With $19 Million: What is Milady Wif Hat?
Named after the renowned Solana meme coin Dogwifhat (WIF), Milady Wif Hat swiftly reached its maximum funding cap of 88,888 Solana (SOL) within hours of its launch.
Introduction: Milady Wif Hat
Milady Wif Hat, a new meme coin on the Solana network, has made waves by swiftly gathering $19 million in funding during its presale in just two hours. Named after the well-known Solana meme coin Dogwifhat (WIF), Milady Wif Hat garnered a maximum funding of 88,888 Solana (SOL).
🎩 Milady Wif Hat presale is now live! 🚀
— Milady (@miladymemecoin) March 18, 2024
Presale is live for the ever-fashionable SOL-loving Milady wif hat. Sending some love to the SOL community now 💗
Wallet address : 4K9tmyjpdu9ogw95JRTZkPkNppw8v1gnuGHBaYir96tt pic.twitter.com/1VdUjilB1E
With Milady Wif Hat, investors could participate with a minimum investment of 1 SOL, capped at 88,888 SOL. The presale, set for a 24-hour duration, saw an overwhelming response, becoming oversubscribed within hours of its launch.
📢 Closure of Milady wif hat presales! 🚀
— Milady (@miladymemecoin) March 18, 2024
Milady Wif Hat presale has soared to its limit of 88,888 SOL and is now closed. 🎉
Any additional Solana raised will have 100% of their funds returned.
Thank you all for the incredible support! 🙌 💖 pic.twitter.com/zEzDGEVlQy
Following the closure of the presale, additional contributions were reportedly returned.
Milady Origins
Milady memecoin's journey began as a decentralized meme token ($LADYS) on the Binance Smart Chain, debuting in 2022. Inspired by the internet meme culture surrounding "Milady" images, which exude grace and elegance, the project aims to infuse humor and lightheartedness into finance.
With a fixed total supply of 1 billion tokens, LADYS employs a deflationary mechanism, burning 10% of the initial supply to enhance scarcity. Furthermore, the tokenomics incorporate a 10% tax on transactions, with 5% redistributed to holders as rewards and the remaining 5% allocated to the liquidity pool, incentivizing long-term holding strategies.
Milady Wif Hat memecoin is the newest addition to the Milady ecosystem.
Challenges Along the Way
Despite its promising trajectory, Milady has faced challenges on its rise. Charlotte Fang, the founder of NFT projects Milady and Remilia, recently confirmed a security breach of treasury addresses, resulting in significant financial losses.
The transfer of ownership of the treasury to the drainer occurred before the suspicious transactions, according to PeckShield experts. Prior to this, in September 2023, Fang reported that the Milady NFT ecosystem developers had stolen about $1 million and hacked its social media accounts.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
Looking for a job in crypto? Check out the CryptoJobsNow listings!
Author
Try Now!
Sign up Now
Coming Soon
WIN BIG
Coming Soon
Start Earning Today!
Earn Now
Coming Soon
Sign Up Now
Play & Mine!
Coming Soon
Editors Choice
Other Currencies
- nameLTBuyLitecoin
Sponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0% - nameLTBuyEOS
Sponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0% - nameLTBuyMonero
Sponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0% - nameLTBuyBitcoin Cash
Sponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0%