Binance Earn is your crypto savings account. Here, you’ll find a great variety of options for earning passive income with your crypto holdings.
You may have come across this famous quote by esteemed investor Warren Buffett:
If you don't find a way to make money while you sleep, you will work until you die.
Binance Earn is an awesome way to increase your savings while you’re sound asleep, knowing that your funds are doing all the work for you. There are a number of different options, each with their own assumptions about your risk profile, time horizon, and desired returns.
What is Binance Earn?
Let’s go through the main categories of Binance Earn so you can figure out which suits your investment style the best.
So, if you’re holdings some money in your Spot Wallet, why not deposit it into the Flexible Savings account? Since you can access it any time, it’s easy to make those funds work for you while they’re not being used elsewhere.
Note that the interest will not be calculated on the day you subscribe to a Flexible Savings product. Instead, the first interest payment is calculated from the next day after your subscription.
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.
Otherwise, we could say that these lending products are quite similar to Fixed Savings. But, since they’re only available from time to time, you can get higher rewards if you keep up with what’s happening. Make sure to keep an eye on the announcements to secure your slot!
If you commit your PoS coins to be locked for periods ranging from 7 to 90 days, you can earn a higher reward. This is essentially the same deal as Flexible vs. Fixed Savings, only with staking.
In addition, some coins will also allow you to do a Flexible Lock, where you commit your funds for staking, but you still maintain the ability to withdraw if you want to.
So what do you get when you put an IEO and yield farming together? Launchpool. You can lock up your BNB, BUSD, and other cryptocurrencies to get a share of a new token that's being launched on Binance. Sometimes, tokens will even launch both on Launchpad and Launchpool at the same time.
The Asset Management tab gives you access to some more advanced savings products. Not to worry though, these are still quite easy to use. Let’s see how they work.
Binance Liquid Swap
That’s great, but how does this concern savings? Well, similarly to Uniswap and other AMMs, you can also become a market maker. Just deposit one (or multiple) of the supported stablecoins, and start earning interest. Who knows, the returns you get here may even be higher than if you would be using other Binance Earn products.
Binance Dual Savings is a nifty way to earn some side income no matter which direction the price goes. It lets you maximize yield on your savings while minimizing price risk. How does it work? Let’s see a quick run-through.
You deposit a cryptocurrency and earn a return based on two assets. You commit your holdings, lock in a yield, but earn more if the value of your holdings increases during the time that they’re locked up.
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.
You can redeem your funds at any time via 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.