Cryptocurrency that is already sitting in your Binance account. Basically, you can get more crypto with the crypto you already have and a lot of it is guaranteed. Here are some time codes that might help you out but hey we would appreciate it.
10 Ways to Earn Bitcoin and Other Crypto with Binance Earn
There’s this excellent post on the Binance blog about 10 ways to earn Bitcoin and other crypto with Binance Earn. but we’re just going to go over this live and I’ll be showing you how everything works in the app very briefly.
Understanding the Risks and Guarantees in Binance Services
Most importantly, your capital is guaranteed in a lot of these services but with some services like DeFi staking or Liquid Swap there are some risks to your funds. With Liquid Swap your risk here would be impermanent loss where you lock your funds in a liquidity pool and then the pool is subject to the price fluctuations of the market so there is some risk of loss there but for the most part there is some easy guaranteed capital.
Flexible Savings: Zero Fees, Dynamic APY, Daily Rewards
Flexible Savings: zero fees, dynamic APY, rewards are distributed daily. So from the app, we go to savings and if you don’t see savings that’s no problem you hit more over here, scroll down to finance and then you should see savings.
Flexible Savings vs. Locked Savings
Now you have flexible savings and locked savings here. Flexible savings will give you these interest rates. These interest rates are low when compared to locked savings which will give you a higher yield on your investment but the difference is flexible savings allows you to take out your funds whenever you like and you gain that interest daily.
Higher Yield with Locked Savings
- Locked savings has certain durations where your funds have to be locked up for that time period.
- So with BUSD for example you have an interest rate of 4.5 percent, 4.6, 4.8, and 5.1.
- This depends if you’re locking your funds for 7, 14, 30, or 90 days.
- Your funds have to be locked in that savings contract for that full 90 days.
- Now you can withdraw them whenever you like that is possible but then you would forfeit any interest you would have accrued.
- So for the 90 day plan if you stay for one hour, one day, 15 days, 89 and a half days you will not get that interest.
- You have to be there for the full 90-day plan.
Flexible Savings vs. Locked Savings: Which is Right for You?
So if you want to earn interest daily and have flexible access to your funds, flexible savings is for you. If these funds are just gonna sit in your account, locked might be a better option.
Earn Passive Income with BNB Vault
The third way to earn passive income on Binance is BNB Vault. So if you are a strong believer in BNB, the Binance Coin, and Binance Smart Chain and you see a lot of growth in their future so you’re holding their token or if you just want to save 25 percent off the trading fees on Binance, you would probably own the BNB coin and you can earn interest on that.
How to Use BNB Vault on Binance
So from the app, you select more, scroll down to finance, and select BNB Vault. Now the current APY is 1.68. The interest rate for BNB Vault is determined by the various earning opportunities that are currently available on Binance. It’s kind of like a yield optimizer. It will take your funds and invest them in places like Launch Pool or flexible savings places where your funds are safer and that you will get a guaranteed yield.
Flexible Earnings with BNB Vault
Now BNB Vault doesn’t necessarily mean your funds are completely locked. This is kind of like the savings plan specifically for BNB so we can stake and unstake funds as we like. Interest is paid daily and there are no time commitments. If you just have BNB sitting in your account it might be a great option (not financial advice) to use BNB Vault to earn interest on the BNB you already have.
Launchpool: Earn Staking Rewards
So from the Binance app that would be Launchpad here but if you don’t see Launchpad there no problem. All you have to do is select more and scroll down to others Launch Pad. From month to month the Launchpool may change and right now Clay is available and they are accepting BNB and BUSD for their Launchpool.
How to Participate in Launchpool on Binance
| Action | Details |
|---|---|
| Tokens to Stake | BNB or BUSD |
| Interest Rate on BNB | 1% |
| Interest Rate on BUSD | 1.4% |
| Earning Staking Rewards | Begin earning immediately after staking tokens |
| Harvesting Rewards | Rewards accumulate in your account; you need to harvest them when ready |
| Pending Harvest | You can harvest rewards whenever you like |
| Removing Funds | You can remove your funds from the Launchpool at any time |
Earn Rewards with Locked Staking on Binance
Locked staking so from the app go select more scroll down to finance and select staking and you can see here we have two options staking and DeFi staking. Staking is where you earn rewards for that specific coin so we see Clay and if I stake my Clay for 30 or 60 90 days I’m going to earn rewards in Clay. Same thing for Sand, KSM, and there are a lot of coins available so check that out.
DeFi Staking: High Rewards with Some Risk
DeFi staking, Binance does vet their DeFi staking partners to minimize their risk to Binance customers so you have to be very careful with DeFi because you don’t know if there are any vulnerabilities and that’s why there is a risk warning when using DeFi staking. The DeFi staking rewards are very high but then you do take on some risk and Binance can’t guarantee it but Binance will do everything in their power to make sure it is a safe protocol for you to participate in.
Earn High Returns with Binance Activities
Activities will allow you to earn staking rewards for that specific coin for a very specific amount of time. So BEL you get a 15 day annualized interest return of 18. Activities are only available for a short amount of time so these won’t always be available and these will change from month to month as you can see some have ended and some are preparing. You’ll have to check the Binance.com website for upcoming activities and if you are going to use the Binance app the activities will be available in the app once the activity is live.
Earn Interest with ETH 2.0 Staking on Binance
If you are long on Ethereum and you want to earn interest on your Ethereum now you can do that on Binance. So in the Binance app we select more, scroll down to finance, and select ETH 2.0. Now this is speaking through Binance and they exchange your ETH for BETH. You can say it however you like but what it stands for is Beacon Ethereum. So BETH uh that is the shorthand for it but I do like a coin named BETH. This BETH is doing well. Binance doesn’t support any other coin named BETH but this is BETH ETH 2.0 available on Binance.
How to Stake ETH on Binance and Earn Interest
Now when you stake your ETH on Binance you will be trading your ETH for BETH. BETH is a tokenized asset representing your Ethereum stake. Now you can’t actually trade your BETH back into Ethereum through Binance but you can trade it since it is a tokenized asset. There is a pairing for BETH and ETH. When the ETH 2.0 mainnet launches then you’d be able to redeem your BETH back to ETH and until then you’ll be earning interest on the BETH you have in your account. That interest rate will vary depending on how many people are staking their ETH and you can see right now the interest rate is about 6.4 percent.
Increase Your Earnings with Dual Investment
Lock BTC, USDT, or BUSD in a savings yield product and increase your earnings even more with the volatility of the market price on your crypto holdings. If the volatility of your crypto holdings is in a certain gap so that your earnings exceed the savings rate you’ll get the higher amount. If the market price on your crypto holdings dips or your earnings don’t exceed the savings rate your holding may change to another asset. So with dual investment, it’s kind of like a savings account and they have these strike prices where you would either be getting back BTC or BUSD depending on what happens in the market.
Earn Rewards by Becoming a Liquidity Provider on Binance
Becoming a liquidity provider is really popular especially in DeFi and you can also do that on Binance and earn your rewards while your funds stay safe. So from the app, you can select Liquid Swap here or if you don’t see that select more, scroll down to finance and then you should see Liquid Swap there. And if we select pool over here we can see the different yields available for the different coin pairs and there are a lot of different trading pairs available. But when you are a Liquid Swap provider you are subject to impermanent loss. Basically, you’ll be losing money in the long run if that coin doubles, triples, or quadruples in price because your funds are locked in this liquidity pool. Now you can exit a liquidity pool whenever you want and