The world-leading crypto exchange, Binance, uses its unique Binance Earn suite to provide users a range of yield-bearing products. In short, this seamless feature allows one to utilize their crypto assets to earn passive income.
Introduction to Binance Earn
According to the crypto market information website CoinMarketCap the combined total volume of money in the crypto market is well over $1.5 Trillion. We compare this with the Market Capitalization of Gold, currently around $10.787 Trillion, and the total volume of US dollars in circulation, which is about $2.05 trillion. This data displays the financial significance crypto has developed in the past decade. Currently, there is a high demand for crypto assets and liquidity, presenting high interest rates to those who lock capital for third-party use.
There are many ways of taking part in the cryptocurrency market and making money from it. Many people are familiar with day-to-day spot trading and futures trading etc. While the profits from trading are often lucrative, the market is often risky due to the crypto market's high volatility. Because of this, trading usually requires a great deal of time, research, and some bit of luck to get your calls right much more often than not.
Many of us who have a low-risk appetite would rather venture into trading, buy our favorite crypto assets, hold them in our wallets, and wait for them to appreciate them before selling off and making some gains. While this is relatively safe to do, there are low-risk options that we can take advantage of to grow our crypto assets. Instead of leaving them lying idle in our wallets, users can stake their tokens. To help people in this category profit from their crypto holdings, the world's largest crypto exchange, Binance, has developed a suite which they named Binance Earn.
What is Binance Earn
Binance Earn is a platform created by Binance with various products which enable users to earn additional profit from their crypto holdings. These products are in four main categories, flexible term products, fixed-term products, Launchpool, and Asset Management. Let's take a look at each of these options and their features.
- Flexible Term Product.
The first offer is Flexible Savings. It gives one the option of earning interest by keeping one's crypto assets in the custody of Binance. It is quite similar to what is obtainable with a bank's savings account. There is no tenure on your deposited crypto assets, and you can withdraw them anytime.
- Fixed Term.
This product suite comprises a range of options that come with a fixed tenure. They typically have higher rates of interest than the flexible term product. With the options available in this class, you can deposit your crypto assets into a pool and earn interest. If the assets are Proof of Stake assets, you can stake them within the platform and earn higher returns. The only caveat here is that you must agree to lock up your assets with the platform for a specified time. If you want to unlock them before the term expires, you may lose the entire interest or get just a fraction of it.
- Launchpool.
Much like yield farming, the Launchpool gives users the option of locking/staking their crypto assets in a liquidity pool as part of efforts to fund newly launched projects. In return, they earn interest paid out in the tokens of those new projects. This is my favorite because it is easy to make nice additional gains if the new tokens earned appreciate well in value.
- Asset Management.
This class is made up of the following product offerings: Dual Savings, Binance Liquid Swap, and BNB vault. Though they differ in their characteristics, they are common because they are designed to maximize returns.
The different products, their peculiarities, and features are elaborated upon concisely here.
Concluding Thoughts on Binance Earn
Lots of people are averse to the risks associated with trading cryptocurrencies. Many would rather just keep their crypto assets and wait for a time they can sell them profitably. Instead of leaving such assets idle in one's wallet, it would pay more to engage them in low-risk activities that would generate interest. The world-leading crypto exchange, Binance, uses its unique Binance Earn suite to provide users a range of yield-bearing products. In short, this seamless feature allows one to utilize their crypto assets to earn passive income.
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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.
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