Binance Earn: A One-Stop Earning Hub?
If you are a user of the biggest cryptocurrency exchange, Binance, you probably already know about its array of earning opportunities that are available through the Binance Earn program, the so-called one-stop hub which include different categories as follows:
1. Savings
There are no deposit fees and earnings (APR or AIR) are stable.
Flexible Savings
Flexible Savings product subscriptions and redemptions are closed during 23:50-00:10 (UTC) daily. No interest is accumulated on products purchased on the day of subscription. Interest is calculated the next day.Probably the lowest risk option. Do note of the saying, "Not your keys, not your crypto."
There are 233 assets available on this type of crypto savings. One can choose to auto-subscribe to any of these and interests earned or any available amount in the Spot wallet will be added automatically to the savings daily. When the auto-subscribe is not enabled, the daily interest will accumulate in the user's Spot wallet.
Locked Savings
Deposits are locked in different timeframes - 7days, 15days, 30days, 60days and 90days. Once locked, there is no early redemption so this is only good if you intend to HODL your crypto.Currently, there are 13 assets available with varied Annualized Interest Rate (AIR) from 5% to 35%. Crypto assets can be withdrawn immediately after the chosen lock period.
BNB Vault
Staking BNB to earn combined rewards from Flexible Savings and Launchpool. Assets staked in the vault can be redeemed anytime.Rewards are distributed daily to the user's Spot wallet. If Auto-Transfer is enabled, any available balance in the Spot wallet will be used daily at 02:00 and 20:00 (UTC + 0) to subscribe to the BNB Vault.
There are no new projects in the Launchpad or Launchpool so any BNB staked in the vault only earns a paltry APR of 0.35%.
Auto-Invest
"Auto-Invest allows one to automate crypto investment and earn passive income. It is a dollar-cost averaging (DCA) investment strategy.You can choose the cryptocurrency you want to purchase on a regular basis. Your purchased crypto will be automatically deposited into your Flexible Savings account, so you can earn passive income with your investments." - Quoted
There are different timeframes (short-term to long-term) to choose from: 7days, 3months, 6months, 1year and 3years.
One can pause, stop (remove) and redeem auto-invest subscription anytime. More information on the FAQ section.
2. Staking
Locked Staking (Low-entry, high yield. Can start with as low as $10.)
Both PoS tokens and non PoS tokens are possible to be included, with various sources of income, included but not limited to the blockchain rewards, interest compensation, marketing events plan,etc. The value of staked funds fluctuates and is subject to change. - SourceStaking interest is distributed on a daily basis. Redeemed principal will be returned to Spot wallet within 48-72 hours due to different global timezones.
DeFi Staking (High Risk, High Yield)
"Binance DeFi Staking acts on behalf of users to participate in certain DeFi products, obtains and distributes realized earnings, and helps users to participate in DeFi products with a single click." - SourceLock up period for regular products is 1 day (Flexible Lock). Other timeframes are 30days, 60 and 120 days.
Early redemption will deduct all interest based income. It will take 48-72 hours for tokens to be credited back to Spot wallet due to different global timezones.
ETH 2.0 Staking (Less risk, High Yield)
Staked ETH may take more than 2 years before it can be redeemed. Binance tokenizes BETH as the only proof of your staked ETH in a 1:1 ratio to keep using your locked assets for trading and withdrawals. You can change BETH back to ETH when ETH 2.0 Phase One goes live, then you'll receive the amount of Ethereum equal to your current BETH holdings. Source*On-chain rewards are regularly distributed in the form of BETH to all participants' Spot wallets based on their BETH position.
DOT Slot Auction (Long-term)
Currently, there are no available DOT projects on auction.One can participate by staking DOT for the projects one wants to support during the 5 round auction intervals and then get rewarded with crypto.
Participants will receive the Binance Extra Bonus provided by Polkadot parachain projects during the Warm-up Period (approximately 30 million USD of rewards), and 100% of all rewards from your favored projects during the Auction Period and Lease Period.
Projects that win the slot auction will lock the staked assets according to the project's lease period, and Binance will start distributing rewards to participants based on the Rewards Timeline. - Source
More details about this are found here.
3. Farming
Liquidity Farming
Provide liquidity to earn transaction fees and farm rewards in BNB token. There are many pairs/Liquidity Pools available.
An Impermanent Loss calculator is available for one to compute the expected IL on any paired assets.
Swap Farming
Swap tokens instantly and get up to 75% fee rebates (in BNB).
On the Swap window, you will be able to see the details related to what you are swapping like Slippage etcetera and the estimated fee rebate.
Launchpool
Staking crypto (usually BNB etc) and earn returns in the form of new tokens. Unfortunately, there are no new projects on Binance's Launchpad and Launchpool at the moment.
4. Dual Investment
Buy Low or Sell High; Wide Selection; No Trading Fees; High Rewards, High Risk.
One may lose more cryptocurrency than initially subscribed.
APR is always changing and this is majorly dependent on the target price, remaining deposit days, and also price volatility. But once you have subscribed to a Dual Investment product, the APR will be locked in throughout your deposit days and will not change thereon.
Cannot be redeemed early.
There are 13 underlying assets available for this type of investment.
One has to complete a short quiz and must score a full mark before the next step for participation.
Amongst the above, I've only been able to try the Flexible Savings, BNB Vault, Binance Launchpad and Launchpool. With my risk appetite being low, I didn't dive into the other opportunities that the Binance Earn offers.
DISCLAIMER: None of these are to be considered endorsements or investment advice. Do your own due diligence. Thank you.
Images/screenshots were from Binance. No copyright infringement intended. 300722/10:10ph
Posted Using LeoFinance Beta
This is really a whole lot you have put together in one piece for us to learn
I have tried the locked savings and vault before but the defi and farming on binance seems all new.
My first experience of defi and farming is from the Leofinance defi...
Am glad to be be learning alot through your post...
Keep it up sis.
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Thank you Monica :) It's awesome that you learn DeFi and also first experienced it through the projects of LeoFinance.
All the best to your investments sis!
!LADY
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View or trade
LOH
tokens.@ifarmgirl, you successfully shared 0.1000 LOH with @monica-ene and you earned 0.1000 LOH as tips. (2/9 calls)
Use !LADY command to share LOH! More details available in this post.
This is cool, I saw it also but thinking it won't worth it. This are goodies from binance
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Yep, better keep your crypto where you hold the keys :)
!PIZZA
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Exactly what I am doing😃
Wao this is lovely a friend of mine introduce me to something like this on binance and it's a very good one there are lot more benefits on binance @ifarmgirl
Pleasure. Do note I am not endorsing them :) And remember the golden rule - "Not your keys, not your crypto."
!PIZZA
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Hmmmmm 😏💭 I will definitely do that @ifarmgirl thanks for reminding me about that
That's great :) Cheers to you this weekend!
Same here @ifarmgirl
They do have a lot of options available for someone interested in passive income and I've used a lot of the flexible and locked staking in the past but the problem I see here is that you have to keep your crypto stash in an exchange which is never a good thing. You know the saying that goes around, "not your keys, not your crypto"!
Voted on ListNerds!
That's true and that's the reason why I only keep small amounts there. Never good to keep large sums or amount when we don't hold the keys.
!PIZZA
Thank you for your vote on LN :)
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Imma save that pizza for later, it's only 8am here! 😆
Oh, good morning to you :) Enjoy the rest of your day. Seems the pizza won't be arriving to you, lol!
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When I first saw what they did say I was slain by the possibilities of what you can do with your crypto. You put it well together. I do some staking, ETH 2.0, and some flexible staking there. Sometimes also the BNB vault.
Came from ListNerds and voted there!
Thank you :) The opportunities they have for their users are getting wider and that probably one of the reasons why millions of users flock the exchange :)
It's nice that you did the ETH2.0 staking, I've not really look into it before.
I did it at the first day when they came up with it. I kind of regret it now because I'm not sure what Vitali is doing over there. 😂
I think it's a good thing because it keeps you from selling your ETH hehe. Maybe Vitalik is polishing things and will surprise the ETH community towards the end of the year, hopefully :)
But you can still use the tokenized BETH right?
I'm not 100 percent sure but I think I sold them at some point. Can't log in right now to check. I know the ETH 2.0 staking is still running but I think I have sold the BETH at the end of the last year or maybe this year.
Oh, I see. It's good that although you staked the ETH, you got an equivalent token which you were able to trade.
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I am a binance user but I don't even know about a lot of these earning opportunities 😆 it's probably because I don't pay attention to things like that and mainly use binance just to trade. I think I will start looking into some of them, like the flexible savings looks interesting (probably because it has the lowest risk 😅)
😁 Trading is good too and trade gains can actually be much more than the yields from these investments :)
!PIZZA
Posted Using LeoFinance Beta
I am user of Binance from a year. I am learning trading skills but now I have more opportunities to earn. I am hopeful Staking and earning passive income through auto investment option are best way for earning.
How cool that you're learning trading skills! All the best to you on your trades and investments !LADY 😊
Posted Using LeoFinance Beta
View or trade
LOH
tokens.@ifarmgirl, you successfully shared 0.1000 LOH with @blueflipper123 and you earned 0.1000 LOH as tips. (1/9 calls)
Use !LADY command to share LOH! More details available in this post.
Thanks for the information and sharing on Listnerds
@ifarmgirl !ALIVE
!CTP
!BBH
@ifarmgirl! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @benthomaswwd. (15/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
Aww, many thanks Ben. You're so kind.
!PIZZA
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You are welcome @ifarmgirl have the best new week ahead😎
!PIZZA
Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work
I can't remmeber seeing the IP calculator before, mind you it has been a while since I went into my binance account.
Salamat for this CJ, I will check it out again sometime next week!
Posted Using LeoFinance Beta
Maybe it's a new feature. I didn't notice it before too. Cheers Tito Ed an have a fantastic weekend❤
!PIZZA
Posted Using LeoFinance Beta
Ah a new feature it possibly oculd be!
Thanks CJ and enjoy August and the new week:)
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Salamuch Tito Ed and happy new week to you too.
salamuch salamuch salamuch now i want much salsa!
Thanks CJ and smile it is a Monday;)
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Whoa, you do salsa? How cool is that Tito Ed! Smile, though your heart is aching🎶🎶😂
jeje oh I love salsa, not done it for blooming ages though CJ!
Posted Using LeoFinance Beta
You should do it again :) Monika (Fantagira) enjoys salsa too❤
ah yes she does, I have not done for ages and ages lol One day I will
I hope you will Tito Ed :) I wish you the very best on that!
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!PIZZA
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You're welcome @ifarmgirl, that's a pleasure! Have a nice day 😊🌹
Thanks for the great explanation!
Yay! 🤗
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