How to Earn Interest on your Binance Coins?
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The best way to secure your financial future is through making the right investments. However, investing in some areas can be a very risky endeavor due to uncertain market conditions, making it a real possibility that you could lose part of (or even your entire) investment. That is why many people are constantly looking for less risky investment opportunities, and Binance coin (BNB) presents investors with such an opportunity.
Binance coin has been around for only a short time, but its growth has been steady and exponential because of its unique attributes. BNB is a token of the crypto exchange platform Binance. It has quickly gained a loyal following because it presents a risk-free way of generating a significant return on investment from crypto.
While many crypto investors are familiar with crypto trading, few know that you can earn crypto interest from your BNB portfolio. You can earn BNB interest of up to 3% annually, and this figure is compounded if you decide to hold on to your investment for a few more years. In this article, we look at how you can earn interest from Binance coins.
Why Binance coin?
Binance coin is one of the numerous top services rendered by the Binance crypto exchange platform. While you can engage in crypto trading or crypto-to-crypto exchanges at Binance, you can also invest in their native coin, BNB. In fact, the Binance coin is a beautiful opportunity because of its interest-earning nature.
You start earning interest immediately you buy a Binance coin and deposit it in your crypto wallet. There are several wallets and savings accounts where you can store your crypto but, YouHodler is the best place to deposit BNB. And the best thing is that a YouHodler's BNB Savings Account has a lot of benefits, including low minimum deposits and almost nil withdrawal fee/
How to earn BNB interest: what you should know
Binance allows you to earn crypto interest when you purchase their BNB token and deposit it in an interest-generating platform or accounts like YouHodler's. You can earn BNB interest in two ways, either by opting for the fixed or flexible terms. In the fixed option, your BNB assets are held for a fixed amount of time before you can cash out, while on the flexible terms, you can cash out at will.
Choosing the fixed term enables investors to earn a higher interest rate, and when you consider that the returns are compounded, the final return on investment can be huge. However, there is no chance of cashing out your crypto assets if the term you signed up for has not matured. For the flexible arrangement, you can redeem interest earned at will albeit at a slightly lower rate.
Flexible saving term
This term enables you to redeem your entire crypto investment at any time you wish. You will continue to earn BNB interest until you decide to cash out your crypto assets. This method works well for those investors who prefer making interest on their coins and gaining access to those coins whenever they need to. Cashing out these coins is instant as you will receive funds within 24 hours after making a withdrawal request.
Fixed saving term
If you opt for this method, your assets will be locked in until the fixed set time has expired. During this time, you will continue earning annual interest which is compounded, but you cannot gain access to your BNB. However, you will be allowed to monitor how your investment is growing. Select this option if you are only sure that you will not need your funds before the maturity period ends.
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