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Binance earn: what it is and how to earn cryptocurrency passively

Learn what Binance Earn is and different ways to earn cryptocurrencies passively

Are you a long-term cryptocurrency holder? Perhaps you have inactive cryptocurrencies in your portfolio and have no plans to sell them anytime soon? Whatever the case may be, you will be happy to discover that there is a way to earn even more passively on your cryptocurrencies.

Even for newcomers to the cryptocurrency world, who are often confused about how to make money with their assets. One of the most popular ways to do this is Binance Earn, a project run by the Binance trading platform. Although there are many websites offering similar services, this one seems to be unique.

Why is Binance Earn the first choice?

So why should you turn to Binance Earn to receive passive gains in cryptocurrencies? Or, in other words, why should you choose Binance when there are so many similar cryptocurrency service providers on the market? There are many reasons for this.

At the top of these reasons are reliability and security, two important factors to consider when choosing a cryptocurrency trading platform. Binance has established itself as one of the most reliable exchanges in the market because of its reputation as a provider of fast transaction processing times, safekeeping of funds, and overall commitment to customer satisfaction.

Binance is also among the exchanges that charge really low commissions as I explain in this article: binance commissions

Thus Binance has earned the reputation of being one of the most reliable cryptocurrency exchanges ever.

In addition to its various security policies, Binance is one of the most regulatory compliant cryptocurrency platforms. It employs state-of-the-art user asset security measures and keeps its customer knowledge (KYC) and anti-money laundering (AML) requirements up-to-date with the laws of the countries in which it operates.

Binance is known for its simple user interfaces, optimized for ease of use. Even cryptocurrency newbies should have no trouble navigating the site, whether they are trading Binance cryptocurrencies or trying out Binance Earn features.

In addition to its industry-leading security and simplicity features, Binance also offers a range of cryptocurrency-related services; in addition to trading it has its own non-fungible token (NFT) marketplace. The platform offers users the opportunity to earn cryptocurrency through staking, passive earning function, yield farming, or simply learning through the Binance ACADEMY platform and many other channels.

Binance Earn the first step!

To start earning interest rates and returns on your investment in Binance you need to take a few steps. Let’s go through them now.

To start using the Binance platform, you need to register an account. One of the advantages of using Binance is that with a single account you have access to all its services. In other words, if you register on Binance as an exchange user, you can use its NFT marketplace or “Binance Earn” without needing a separate account for each service.

Binance identity verification

kyc

Registration takes very little time, and once you join you will be asked to complete the next step in the registration process: identity verification

This is part of Binance’s KYC (know-your-customer) measures-as I mentioned earlier in this article, Binance takes KYC seriously and takes great care that its users provide proper documents and identity verification. which takes only a few minutes and is very simple to do; once this is completed, you will have access to all of Binance’s services, including Binance Earn

Binance Earn: from A to Z

Binance Earn offers a variety of services. To keep things simple, we will discuss each section of the platform and the benefits available in each.

Binance Earn: Staking

The staking service is a method of earning interest on cryptocurrencies held. Binance Earn currently offers four different staking services:

Locked staking and DeFi Staking:

  • Locked Staking allows users to lock their digital assets for a set period of time, after which they will be automatically transferred back to the spot wallet
  • DeFi Staking: DeFi staking is similar to locked in that the process is mostly the same: you choose an asset, lock it through Binance, and receive passive gains

  • The two forms of staking on differ only because one is more stable than the other.
    • With Locked staking , users generally expect lower returns (APY) but their assets are safer, while DeFi staking offers higher APY but with higher risk.
DeFi staking
DeFi staking

Binance Earn: Farming

Binance offers all its users the opportunity to earn passive crypto through yield farming. Yield farming is one of the most popular methods of earning passive crypto, so it is not surprising that Binance also has a separate section dedicated to it!

There are three forms of crypto farming that you can participate in on Binance:

  • Liquidity Farming
  • Swap Farming
  • Launch Pool

Liquidity Farming:

Liquidity farming is a performance-based method of earning interest on cryptocurrency assets. It consists of locking cryptocurrency assets at a liquidity pool, where they can be used for trading. By providing funds for these transactions, interest is earned from the trading fees paid during the transactions.

Liquidity farming can also be risky, as you could lose more than you gain. If the market price of the asset you have locked into a liquidity pool collapses, you could risk losing a lot of money-in other words, the benefits you would receive would not offset your losses.

Swap Farming:

Binance Earn offers users the opportunity to make cryptocurrency swaps and earn a passive profit in the form of BNB.

The amount of BNB earned varies depending on the coins or tokens traded and the time period in which the transactions are made. Rewards are calculated as a commission discount; they are quite substantial and can accumulate quickly if a large amount of cryptocurrency is traded.

Launch Pool:

As the name suggests, Binance token launch platform is a platform dedicated to helping new and emerging cryptocurrency projects launch their tokens. So if you have a great idea for a cryptocurrency project, this is the perfect place to make it happen.

The company’s dedicated launchpad allows new cryptocurrency projects to receive degan exposure and makes their launch phase more effective

So individuals can participate in staking tokens to receive passive interest.

The amount of APY promised by a project varies widely, and one should keep in mind that the price of tokens will also tend to fluctuate.

The Binance Earn platform offers a wide choice of tools for earning passive APY income. The most common method is to use the standard liquidity farming feature; however, if you want to try your hand at something different, you should also check out the launchpools.

Binance Earn: Dual investment

Although it may seem complicated at first, dual investment is one of the most profitable investment options available on Binance Earn.

Dual investments consist of two cryptocurrencies, one of which is the underlying asset and one of which is a deposit currency.

Binance Dual Investment (also called Dual Saving) is a financial product offered by Binance.

It allows you to deposit one cryptocurrency (e.g. USDT) and earn interest based on two others (e.g. USDT or BTC). Dual Investment has high returns but also risks. The annualized return is fixed, but the final payment will be affected by the price of both assets at the time of delivery and the strike price. The cryptocurrency market is very volatile, which is why this investment carries some degree of risk.

Binance Earn: Savings

The “Savings” section includes the following services of:

  • Savings
  • BNB Vault
  • Auto-Invest

SAVINGS:

By signing up for Binance Savings, you can earn interest on your cryptocurrencies by keeping them safe. You can bet on coins such as bitcoin, Binance Coin or NEO etc. and earn interest on them.

Binance offers two types of investimanti: flexible and locked. With flexible ones, you will be able to withdraw the invested funds at any time. As the name suggests, locked savings require you to lock your assets in cryptocurrencies for a specific period of time (usually 7, 15 or 30 days).

To use this service from Binance, you must own cryptocurrencies that you want to target in your Binance cryptocurrency wallet. Then, once you are logged into your account, go to the “Earn “tab and click on “Subscribe” next to the asset you have chosen. A few confirmation windows will appear and that’s it-you will earn passive income with cryptocurrencies!

BNB VAULT:

The BNB Vault works in a very similar way. You wager BNB coins and Binance interest rates are calculated and applied to your wager. Potential APYs (Annual Percentage Yields) can be as high as 20%.

Self-Invest:

Finally, auto-investment works just as you might imagine. You choose an asset and set up an automatic recurring investment plan (AutoInvest). You can combine AutoInvest with the flexible asset staking we discussed above. This will allow you to invest in cryptocurrencies and still earn a passive return at the same time!

Which method to use to earn with Binance earn?

Now that you are aware of the different ways to earn interest with Binance’s Earn platform, you need to decide which method is best suited to your needs.

it is not necessary to choose just one method! In fact, you could and should use as many Binance earn services as you want, at the same time!

It all comes down to two factors: your APY expectations and your risk tolerance.

If you are looking for steady returns but do not want to take on substantial risk and do not want to actively monitor your portfolio, you can invest in a Binance savings account, which offers a fixed interest rate for deposits with no time limit, you can use locked staking and services such as autoinvestment, BNB vault and binance savings.

If, on the other hand, you are willing to take on more risk or want access to the best possible APYs, regardless of the risk factor, you can take a look at DeFi staking and dual investments.

Conclusion

Besides earning on Binance earn, there is another way to earn cryptocurrencies: by learning about them.

Coinbase’s “Learn & Earn” program was one of the first educational programs on cryptocurrencies. It offered users the opportunity to earn cryptocurrencies while learning about various cryptocurrency-related topics.

Recently, another platform has joined this field: Binance.

Binance Academy offers cryptocurrency enthusiasts the chance to earn cryptocurrencies while learning about various aspects of the industry. This is an exciting opportunity for anyone interested in the cryptocurrency space.

Of course, the cryptocurrencies you will earn will not be substantial . However, the concept of getting paid to learn is amazing in itself!

All you need to start earning cryptocurrencies by learning on Binance is a verified account on the platform – that’s it! and your earnings will be directly deposited to the wallet built into your Binance account.

Apothecary

Chief editor and analyst at Cripto. Exposed - Blockchain, Bitcoin, and cryptocurrency advocate in general. My mission is to encourage widespread crypto use. Too quirky?

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