Today, I'm going to show you a simple way to earn passive income with Binance. If you have not joined the site yet I have a referral link in the description if you want to support my channel so I can make more videos like this. This method requires that you have some cryptos. You can earn free cryptos from many of the get to paid sites I have covered on this channel. There are many ways to earn passive income with Binance, but today I will show you how to earn with the Savings feature on Binance.
Once you are logged in click the Finance tab and go to Savings. Now this works like a traditional bank but for your cryptos and with much better interest rate. Traditional bank nowadays doesn't offer much interest on your savings. With Binance Savings you will get a better return on your cryptos. There are some stable coins here like Binance USD, Dai, USDT, and USDC. A stable coin is a cryptocurrency pegged by the US dollar. 1 coin is equal to 1 US dollar. They are designed to minimize price volatility. These stable coins have the best interest rate here. You can exchange your other cryptos for these stable coins or use other interest-earning coins.
Flexible savings is for you who don't want to lock up your coins and want the option to withdraw your coins at any time. You can see the estimated annual yield, yesterday's interest, 7-day estimated annual yield trend, interest per thousand at the top. You can see all the coins you can earn interest on if you expand the list. To start earning interest from your coin, click the Transfer button, enter the amount you want to put in, click the agreement checkbox and confirm. It is that easy.
You can also use the Locked Savings feature. You choose the days you want to lock up your coin, the longer period the higher interest you will get. This feature is for a larger amount of coins. To get started. Click the Transfer button, choose how many days you want your coins to be locked in, enter the lot amount. How many coins in a lot is described at the top right corner. You can see when you can redeem your coins and the expected interest on the right side. Automatically renew with Flexible Savings will put your coins into Flexible Savings if you forgot to redeem your coins, this is a great way to maximize your coins. Click the agreement checkbox and confirm. And you have locked up your coins.
To redeem your coins. Go to Savings under the Wallet tab. If you have any coins using Flexible Savings, you can redeem your coins by clicking the Redeem link to the right. You can choose Fast redemption or Standard redemption, if you choose Fast redemption you will not be entitled to today's accrued interest, just keep that in mind. Click the checkbox and confirm. If you have any coins locked up you will find them under the Locked tab.
I have used both Flexible Savings and the Locked Savings features on Binance. It is easy to use and I think it is a great way to earn some interest if you don't know what you want to do with your coins. It is better to put your coins to work instead of having them doing nothing in their wallet is my opinion.
I hope that you have enjoyed this video about how to earn passive income with Binance. If you do hit that like button. Til the next time. Thanks for watching!
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