Binance Earn Tutorial: Learn How To Earn Interest On Your Crypto Asset.

In this post, I will walk you through a step-by-step guide on how to earn interest on your crypto assets using Binance earn packages.

If you have some crypto assets and you are looking for a way to earn with them, then Binance Earn is right for you.

In binance, there are basically four ways that you can earn: saving, staking, farming, and dual terms, and we will go through them one-by-one. So grab a seat and read carefully.

If you are looking for a particular package, you can use the table of content below to locate what you want.

So let’s get started.

What is Binance Earn?

Binance Earn is a series of packages on the Binance exchange that users can leverage on to get some additional income on their cryptocurrency assets.

I must make it clear that before you earn any interest on your crypto asset, you must be denied access to it for some period of time.

This is because the exchange needs to use your asset to validate cryptocurrency transactions for some time (you will understand why and how later in this post).

How to Access the Binance Earn Package

Before you can earn on Binance, you must sign up with them, if you have not, you can follow this link to do that.

Once you are signed in to your Binance account, the first thing you need to do to access the Binance package is scroll up and hover over the “earn button”.

You will then see a drop-down list of options; click on “Binance Earn.” Once you click on it, you will see the following packages: saving, Staking, farming and dual investment.

Binance Earn Packages

There are four binance earn packages: Saving, Staking, Farming and Dual Investment.

To explain how you can earn from these packages, we will take them one-by-one.

Binance Savings Packages.

Basically, there are three ways to earn money in this savings plan.

Binance flexible saving.

Binance’s flexible saving package allows you to earn interest on your cryptocurrency holdings by leaving them with the exchange for a while.

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In flexible saving, once you subscribe your crypto assets to the exchange, you can remove them (unsubscribe) at any time you want.

Binance locked saving.

Locked saving has almost the same features as flexible saving. The only difference is that in a locked saving package, once you subscribe with your asset, you don’t have access to it until the duration you set is exhausted.

Binance Activities Saving

This has a very limited time scale and is usually oversubscribed, meaning that it is very difficult for you to get in.

This package has an amazing annual percent rate (APY).

They usually have very high demand and limited supply. Most of this package may not be on when you check it.

So, for you to leverage it, you need to always check in to know when special activities will be available.

 Binance Auto-invest.

The Binance Auto-Invest package allows you to automatically invest in any asset.

To leverage this package, simply look for any asset you want to invest in and click “Create Plan,” after which you will be prompted to enter a subscription amount.

Let’s say you entered 100 USDT. Whenever you get up to 100 USDT in your wallet, it will automatically subscribe to this package for you.

Binance staking Plan.

Staking is the process of putting up your crypto assets so that they can be used to validate blockchain transactions.

There are three basic types of staking packages: locked, Defi staking, and ethereum staking packages.

Binance locked-staking package.

This is the most common staking package in binance. Just like in a saving package, once you stake your coin under this package, you will not have access to it until the selected duration is exhausted.

You can stake your token for a variety of days depending on the token you want to stake.

This locked stake has a very high APY and is good for you to consider bidding on it.

Binance ETH 2.0 staking package.

Ethereum used to be a proof-of-work blockchain, but now it is being switched to a proof-of-stake blockchain.

In this Ethereum 2.0 staking, there are basically two processes that go on.

When you bring your ETH for staking, Binance will take it and give you BETH; a tokenized asset representing your asset on the exchange.

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This BETH will be distributed in a one-on-one ratio. This means that if you subscribe 100 ETH, Binance will credit your spot wallet with 100 BETH, and this BETH will remain in your wallet for 2 years or more.

After the specified period is exhausted, Binance will now reward you with the Ethereum 2.0 token at the same one-to-one ratio, and this ETH 2.0 will be on a proof-of-stake blockchain.

One thing about Ethereum 2.0 staking is that the more people get into it, and the more ethereum is being staked, the less reward is being gotten.

As a result, you cannot be certain of your annual percentage yield in this package.

Binance Defi Staking Package

This package supports about 20 different assets.

If you are venturing into Defi Staking, Binance is basically taking your coin and investing it in other projects or blockchain.

There are some risks behind this, and Binance warns that it does not assume liability for any losses incurred on this project. It is nice that you consider the risks before making your decision.

Binance Farming Packages.

Cryptocurrency farming is the process of putting your coins on an exchange like Binance for some period of time and getting some interest or new tokens in return.

Here, we have something known as farming pool which oversees the processing of the farm.

There are basically three different ways that you can farm with your cryptocurrency assets on Binance: swap farming, liquidity farming, and launch pool.

Let’s go through them one-by-one.

Swap farming.

Swap Farming is a new Binance Earn product that allows users to swap tokens and receive fee rebates of up to 50% during the initial farming period.

This is a way to trade cryptocurrency within the liquidity pool of Binance.

Rather than going to the open market and placing your trade, you can place your trade within this binance’s own liquidity pool.

Please note that it is not all crypto that is surpoted in this package. Popular coins like USDT and BTC are supported. This is a very good way to trade cryptocurrency on a large scale, as the exchange rate is very small.

Liquid farming

liquid farming is a way to earn income on Binance by giving your coin to Binance and increasing the liquidity on the platform.

It is a farming market place where people can lend their tokens in order to get a reward.

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To use this package, you need to pay some fees. On the other hand, these fees are used to pay the liquidity provider.

The body that organizes or manages this is known as a liquidity pool, and this body oversees the charging of users and rewarding of providers for their tokens.

Liquid farming is a high-risk endeavor. When the market price of tokens fluctuates heavily, staking income may be lower than the income from holding the tokens normally, and losses may occur.

Binance Launch pool

Participating in a launch pool is like putting your crypto asset down for a specified period of time so that you get a newly created coin as a reward.

This package is a flexible product, which means you can redeem it anytime you want.
It is not all coin that is available for farming in the launch pool.

You can farm with BNB, LUNA, and BUSD. All these are popular coins. As you know, BNB is an exchange token and is used to pay for fees on Binance and BUSD is also a stable coin like USDT.
When participating in this package, You will be given an APY and as well, you will also be rewarded with newly minted coin.

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How to check your portfolio on Binance Earn

To check your portforlio on Binance, simply scroll up and hover over the “wallet button,” then click on “earn.” This will take you to a page showing you the investment you currently have.

There, you will see different navigation tabs for the different Binance earn packages. You can click through them to see your investment in each of the plans.

What is High-Risk Products In Binance Earn.

High-Risk Products are packages that can give user a high annual reward yield but on the other hand are very risky.

Before user venture into these products, he/she should know the risk involved and should be able to tolerate it.

Example of high risk products in binance earn page are liquid swap, dual investment and Defi

What is difference between a Flexible term and Fixed term packages in Binance Earn?

The differece between the flexible and fixed package is that flexible package gives you access to your staked coins any time.

This means that you can withdraw your holding anytime you want.

On the other hand, while suscribing to fixed package, you select a duration which you want to stake your coins and unless this time is exhausted, you cant access those coins.

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