As you may know, the crypto-ecosystem is steadily evolving – and unlike traditional investment options, the use forms of cryptocurrencies go beyond buying, holding and selling. With crypto, the possibilities are nearly endless – with users being able to facilitate payments like never before, use as a form of insurance, and ultimately to store wealth.
Beyond this, Binance – the world’s leading blockchain ecosystem and cryptocurrency exchange – continues to find innovative ways of empowering and helping its users discover the freedom of money through crypto investments. One of such ways is through Binance Earn, which offers customers a suite of products for them to grow their crypto holdings easily. Think of it as your crypto savings account – where you can increase your crypto holdings and earn a passive income without trading.
With Binance Earn, users can save, stake – or even become liquidity providers. Currently, over 3.65 million daily active users utilise this powerful tool; and if you would like to harness its suite to have your funds work for you while you sleep, the below categories will help you figure out where to get started:
- Flexible Savings: As the name suggests, flexible savings allows users to subscribe to this product and redeem their earnings at any time as needed. It is a go-to option for anyone who has a low-risk appetite.
- BNB Vault: BNB Vault is a capital-guaranteed investment product to help users maximise the income potential of their BNB. By investing in the Vault, BNB holders can easily invest in both centralised and decentralised finance products, with maximised yields and benefits from multiple opportunities available in the Binance ecosystem. This is also appropriate for users who are averse to high-risk ventures.
- Fixed Savings: With fixed savings, users can save between 7–90-day lock-up periods and earn increased yields on their stakes. While subscription can be done at any time, earnings can only be redeemed after the lock-up period; or else users risk losing the accumulated rewards.
- Locked Staking: Simply put, staking is best described as the act of locking cryptocurrencies to yield rewards. You can redeem these assets after you have successfully subscribed, but please note that redemption requires a certain unlocking period. This locking period differs based on the product chosen.
- DeFi Staking: Binance introduced DeFi (Decentralised Finance) staking to help proxy users participate in related decentralised projects. Users can earn the highest possible returns in the most simple and safest way. DeFi products must be locked in for a fixed period – this means that users who need to withdraw assets in advance may lose their corresponding rewards.
- Dual Investment: Another interesting Binance Earn product is dual investment, which lets users deposit a single cryptocurrency and earn yield based on two assets. Dual Investment provides users with much more control over their risks. It offers non-guaranteed floating earnings; the highest possible earnings are obtainable while satisfying users’ digital asset risk management needs.
As Africa gradually embraces the idea of earning money online, platforms such as Binance continue to arm users with the necessary tools to make financial freedom a reality for many. What’s more? All funds are monitored by Binance’s real-time systems, and users are the decision-makers when it comes to selecting between fixed and flexible terms. Want to get started? Download the Binance app.
