How To Use Binance Flexible Savings And Earn Crypto Profits
The finance sector has received a whole new level of positive change with innovations like binance flexible savings since the day cryptocurrency was introduced for use.
This has made it possible for crypto users to complete cross border transactions in a matter of seconds with fees as low as $0.00001.
As if that was not enough, cryptocurrency also brought out a way in which people can generate passive income while they HODL their crypto assets.
From relieving users from the burden of fiat transaction delays and extreme charges to providing better earning methods like binance flexible savings.
Just like how you can make passive income from crypto staking, you can also make more from your crypto asset when you use binance flexible savings too.
In one of our tutorials, we comprehensively discussed about how to stake cardano or ADA on Binance.
If you are yet to read it, do yourself good by going through it.
The tutorial will help you maximize your profits from cryptocurrency.
In this tutorial, you will learn about how to earn with flexible savings on binance.
We will be discussing about the following in details by simplifying this guide with steps below;
- Step 1: Have a Verified Account With Binance
- Step 2: Load Your Spot Wallet
- Step 3: Enter Binance Finance Section
- Step 4: Select Savings on Binance Finance Section
- Step 5: Select Crypto Coin For Flexible Savings
- Step 6: Input Amount Of 1inch For Binance Flexible Savings
- Step 7: Agree To Binance Terms And Confirm Purchase
What Is Binance Flexible Savings
Binance flexible savings is an innovative way of earning passive income from cryptocurrency in binance.
Some rewards are paid when you HODL your crypto assets in the binance flexible savings.
It is flexible enough to allow binance users who save their crypto to early redeem it without any fee.
Apart from early redeeming without a fee, the time it takes for your crypto assets to reflect in your spot wallet account is very fast.
Unlike locked staking where you have to lose all your staked rewards when you redeem early, binance flexible savings is different.
With binance flexible savings, you still keep your savings rewards even when you early redeem your crypto assets.
How Does Binance Flexible Savings Work
How flexible savings on binance works is not too different from the way binance locked staking works.
In one of our guides, we taught on how you can earn staking rewards when you use cardano staking on binance.
The way binance flexible savings work is not too different.
Flexible savings is an innovative way of encouraging cryptocurrency asset owners to HODL their crypto coins on binance.
This adds more liquidity in the ecosystem of the cryptocurrency that they HODL.
This also adds more liquidity to the crypto asset thereby boosting its value.
For adding to the liquidity of that cryptocurrency in binance exchange, you get rewarded with some crypto in the cryptocurrency you used flexible savings for.
Requirements For Earning From Flexible Savings On Binance
Before you can earn passive income by using the binance flexible savings, there are some requirements you must fulfill.
These requirements are very important for you to stand a chance of earning passive income from binance flexible savings.
Some of the requirements are;
1) Verify Your Binance Account
One of the most important requirement to meet before you can use binance for any transaction is that you must be verified.
So this is a very important requirement to meet.
This will make using binance flexible savings successful.
2) Be Free From Binance Ban
Binance places a ban on accounts that are suspected to be carrying out illegal activities on binance.
When your account is placed on ban, you cannot use the binance flexible savings for passive income.
In case you have been served a ban from binance for an inappropriate activity, contact binance support and make sure it is rectified.
When your account is free from ban, make sure you transact according to the rules and regulations on binance.
3) Have Funds In Your Spot Wallet
Even if you fulfill all other requirements and fail in this, your flexible savings on binance will not be successful.
This is because you do not have funds in your spot wallet.
The funds in the spot wallet is what will be used for the flexible savings.
Make sure that the funds in your spot wallet is equal to or more than the minimum number of crypto coin required for the binance flexible savings.
For example if the minimum quantity allowed is 0.1ETH, you must use 0.1ETH and above for your binance flexible savings to be successful.
If not, you will be shown an error of not having up to the minimum amount needed.
How To Use Binance Flexible Savings
The steps below will give you a complete guide on binance flexible savings.
Step 1: Have a Verified Account With Binance
The first step to take in using binance flexible savings is by having a verified account.
If you are reading this guide and you do not have an account with binance, it is easy and free to have one.
You can sign up for an account on binance or read one of our guides on how to open an account on binance.
When you use the link above to sign up for a binance account, your account will have a low trading fees.
If you already have an account on binance but is not verified, make sure you verify it so that you can use binance flexible savings.
It does not take long to verify a binance account.
But you must make sure that the documents you upload have good clarity and are up to date.
If you have a verified binance account, proceed to the next step.
STEP 2: Load Your Spot Wallet
Understand that the account in which funds will be used for binance flexible savings is the spot wallet.
Some people usually make the mistake of leaving their cryptocurrency in other binance wallet and try to use the flexible savings on binance.
When you leave your funds in other wallets different from binance spot wallet, your binance flexible savings will not be successful.
To make sure that you do not encounter this, make sure that the crypto funds that you want to use is in your spot wallet.
There are a whole lot of ways in which you can load your spot wallet.
Some of the ways are;
- Load Spot Wallet From An External Wallet
one of the ways you can load your spot wallet for binance flexible savings is by sending money from external wallet.
Some external wallets you can use to send funds to your spot wallet are other crypto exchanges, trust wallet or buying from exchangers.
- Load Spot Wallet From Other Binance Wallets
You can also send funds from other binance wallets into your spot wallet.
Some of the binance wallets you can send funds from include futures wallet or you send from the margin wallet.
To make this possible, use the transfer option on the wallet section to make the transfer between binance wallets.
Select the wallet you want to transfer from and the wallet you want to transfer to and also input the amount.
The funds will arrive at the destination wallet instantly.
- Use The Trading Market To Buy Crypto
You can use the trading market to buy the cryptocurrency that you want to use for binance flexible savings.
This is used if you do not have the crypto you want to use in binance flexible savings.
You can easily trade other cryptocurrency you have for the crypto that you want to use in the flexible savings on binance.
You can do this by choosing a trading pair and then perform the trade.
- Use Binance Convert To Load Spot Wallet
If the buying and selling of cryptocurrencies by using the trading market sounds complex to you, you can use the binance convert function.
Binance convert is a way of swapping a crypto asset for another crypto asset without using the trading market.
It is very easy and fast.
When you have successfully loaded your spot wallet, you can proceed to the next step.
Step 3: Enter Binance Earn Section
After you have successfully loaded your spot wallet with the crypto you want to use for binance flexible savings, head over to the earn section of binance.
To get here, click on the more option on the mobile app first.
After that, you scroll to the binance earn section and click on the savings.
If you are using binance mobile app, you will see savings on the dashboard.
You can also access it in the finance section of binance.
Step 4: Select Savings on Binance Earn Section
Now that you have successfully entered the binance earn section, you will see a lot of options to choose from.
Such options include staking, savings, etc.
Our focus is on the flexible savings.
From here, click on the icon that is named savings to enter binance flexible savings.
Step 5: Select Crypto Coin For Flexible Savings
Now that you have successfully entered binance flexible savings, the next thing is to select the crypto coin that you want to use.
In our own case, we will be using 1inch because it will bring in good profit due to it high APY as compared to other coins on the flexible savings on binance.
Remember that the funds for any crypto coin that you choose for the binance flexible savings must be in your spot wallet.
Select a coin by clicking on the subscribe button.
Step 6: Input Amount Of 1inch For Binance Flexible Savings
Now that we have selected 1inch as the crypto coin we want to use, the next thing is to select the quantity to use.
Make sure that you have an amount up to or more than the minimum amount required in your spot wallet.
Input the amount of coins you want to use for the binance flexible savings.
If you want to use all the amount present in your spot wallet, simply click max.
Step 7: Agree To Binance Terms And Confirm Purchase
After you have inputed the amount of crypto coins you want to use, click on the binance agreement.
After you have agreed to binance terms and condition, click on confirm purchase.
If it is successful, you will receive the subscribed confirmation.
Advantages Or Benefits Of Binance Flexible Savings
There are a lot of advantages and benefits that you enjoy when you use binance flexible savings. They are;
1) Means Of Earning Passive Income
Being able to earn passive income from your cryptocurrency is a thing of excess joy to a lot of crypto users.
This happiness is more felt by new users of cryptocurrency.
This is because they can start earning profits while learning other things like cryptocurrency trading.
with this, a lot of people are being encouraged to join in the use of cryptocurrency.
This is because binance flexible savings is a very less risky way of earning passive income.
2) Availability of Auto Resubscription
The auto subscribe option that exist flexible savings is a very great innovation.
You still earn passive income without returning daily to subscribe.
This is because when you enable the auto subscribe function on biance flexible savings, re-subscription of expired plan is automated.
So you can just leave your crypto in flexible savings and be sure that your earning will not stop on days you cannot login to your account.
3) Less Risky Way Of Earning Passive Income From Crypto
Comparing flexible savings in terms of risk to other ways of earning passive income will leave binance flexible savings at the winner spot.
Unlike trading where you lose the quantity of your crypto when the trade goes against you, crypto in your flexible savings loses no quantity.
Instead, the quantity still increases as the daily profits made keep adding up to make your crypto quantity larger.
Limitations of Binance Flexible Savings
1) Not Available For All Crypto Coins
One of the sad news about flexible savings for crypto is that it is limited to some coins.
This means that if you do not have the crypto supported and listed in the binance flexible savings pool, you will not be able to participate.
This limitation has really taken some serious profits from some crypto users.
This is due to their inability to participate in the flexible savings with the cryptocurrency that they have which are not listed on the flexible savings pool.
2) Interest Rate Is Low
When you compare the interest you can make from other methods of earning money from crypto, you discover that flexible savings pay very little.
This low interest rate often a times make people to choose other less risky options like cryptocurrency staking.
How To Earn More Profit From Binance Flexible Savings
When you are paid your daily profits for using binance flexible savings, do not just allow the money to just sit in your spot wallet.
Put it to work and earn more passive income.
Some of the ways you can achieve this are;
1) Use Binance Flexible Savings Auto-Subscribe
Using binance auto subscribe function will make your profits from binance flexible savings higher.
This is because your profits will be reused to add up to your capital.
This will increase your capital value as compared to your initial starting capital.
This also increases your profits as the capital used keeps increasing as the profit keeps being added to flexible savings capital.
2) Trade On Binance Futures
If you do not want to use the re-subscribe function to add more liquidity to your binance flexible savings, you can trade the profits.
The accumulated profits can be used in placing a trade in the futures market to bring in more profits.
This is more risky than the flexible savings auto-subscribe but it is more profitable.
How Binance Flexible Savings Profit Is Generated
Profits paid to users who save their crypto asset is not generated the same way as staking rewards is generated from staking crypto.
In the case of binance flexible savings, the profit which is paid to users who saved their coins are generated from margin trade section2.
In the margin market, people borrow coins to trade and pay interest for the period that they borrowed the coins.
The coins that are borrowed are coins from the flexible savings on binance.
When they are charged a fee, it becomes a profit for users who saved their crypto asset with binance flexible savings.
At the end of the day, the total profit made from margin fees is distributed to all users who saved their crypto assets with binance flexible savings.
Binance Flexible Savings Profit Calculator
The profit that is paid to users who save their crypto assets with binance flexible savings is not stable all the time.
This is because of how the profit is generated.
The profit is generated from binance margin fees.
When people borrow crypto to trade on the margin market, they pay a fee and this fee is the profit that is paid to users of binance flexible savings.
At the end of the day, the accumulated profit is shared to all users who activated binance flexible savings.
The more people borrow on the margin market, the more users of binance flexible savings make more profit.
To determine how much each user gets as profit, the total profit is divided by the number of active subscribers of binance flexible savings.
Flexible savings profit = distributable income/total users who subscribed on that day
The profit is always shared on a daily basis.
The profit will be sent to the spot wallet of users who subscribed to binance flexible savings on that day.
Binance Flexible Savings Minimum Amount
To be able to participate in the binance flexible savings, there is a minimum amount of crypto assets you should subscribe.
This amount is not the same in all crypto subscribed.
Some are high and some are low.
If you do not have at least the minimum amount, you will not be able to subscribe to the binance flexible savings.
You will get an error as shown in the image below.
This shows that for you to subscribe to the ethereum binance flexible package, you must use at least 0.01ETH
To be successful in it, you have to buy ethereum of at least 0.01ETH and then try again.
Is Binance Flexible Savings Risk Free
Binance flexible savings is risk free when it comes to maintaining the quantity size of your crypto coin.
Unlike crypto trading where your crypto quantity reduces when a trade is against you, such risk does not occur in flexible savings.
Instead, the quantity of your crypto keeps increasing in the bearish and bullish seasons.
This is because the daily profits keeps adding up thereby increasing the quantity of your crypto.
How Do I Withdraw From Binance Flexible Savings
You can easily withdraw from binance flexible savings by using the redeem option to withdraw your crypto.
In order to withdraw or redeem your crypto, you can choose to withdraw part of your crypto or withdraw all.
Binance — заработок на бирже криптовалют
Binance — входит в тройку самых популярных криптовалютных бирж в мире! И на сегодняшний день там есть множество способов пассивно и безопасно заработать на инвестициях. О которых я решил рассказать в данной статье. Следует знать каждому что пассивный заработок все же существует. Но как правило нет таких заработков на бесплатной основе.
Кто то продает платные курсы пассивный заработок о котором здесь описано подробно. Но я 100% ручаюсь за данный способ как безопасный. Лично проверенно мной и по любому вопросу готов помочь вам ваш Администратор .
Или обращайтесь в общий чат телеграмма нашего сайта.
Постараюсь рассказать простым языком сколько вы упускаете прибыли каждый год. Например, если бы вы купили 50 BNB (монета биржи) всего год назад 2021,06,04. тогда цена была $15 за монету (на сумму $750).
То сегодня 2021,05,06 у вас было бы $31250 (Это в 41 раз прибыли).
Главное не бойтесь падения курса. всем известно что данные криптовалюты достаточно волатильные. Сегодня хи цена 500 долларов а завтра 40 долларов. Но через год цена может быть 700 ато и 1000 долларов на примере токена BNB Бинанс коин. Следую заметить что курсы криптовалют повышаются перед или во время Халвинга биткойна. (Это значит что награда за блок майнерам уменьшается в 2 раза).
В момент написания статьи 2021,05,20 до следующего Халвинга остается 1060 дней .
А это значит что Халвинг Биткойна состоится в 2024 году , тем самым завысит курс биткойна и в след за ним завысит и другие криптовалюты.
Приблизительно к концу 2021 года или в середине 2022 года все курсы криптовалют упадут.
Например BNB будет стоить 30-40 долларов возможно меньше, на данный момент ее цена 350 долларов.
Можно приобретать на долгосрочное хранение, а так же можно на ней и заработать на процентах без потерь, гораздо больше чем в банке.
Можете воспользоваться моим калькулятором дохода оставлю его ниже.
Регистрируйся по ссылке и получай кешбек в размере 5% от депозита
1. Хранение BNB на счету
Внутренняя криптовалюта биржи под названием BNB признана самой стабильной монетой среди подобных проектов. Она стабильно растет в цене и сейчас входит в ТОП-4 по рыночной капитализации и оценивается в $60.5 млрд.
Зачем она нужна? В первую очередь, она снижает торговую комиссию с 0.1% до 0.075%. То есть 25% скидка. Это к слову, одна из самых низких комиссий среди всех бирж! Кроме этого держатели BNB получают различные привилегии.
Flexible Savings
Flexible Savings — по сути это кредитование нашими монетками биржи Binance. Подразумевается, что они в основном используют потом эту крипту для выдачи займов маржинальщикам — трейдерам, кто использует кредитное плечо. В данном случае для нас тут гибкие условия по срокам — когда хотим, тогда и забираем деньги обратно. Надо просто учитывать, что начисления здесь раз в сутки идут, и первые дивиденды будут не раньше, чем через 24 часа после заморозки монет. Вынете раньше — ничего не получите в плане прибыли. Но, честно говоря, тут доходность смешная — можете глянуть на расчетный процент. APY — это в пересчете на годовую доходность, то есть, к примеру, если вы видите показатель 7-Day APY 6%, это не 6% в неделю, а 6% в год по факту. Разделите на 52, чтобы понять, сколько это в неделю выйдет.
Fixed Savings (Locked Savings) — то же самое, но с заморозкой на определенный срок: 7, 14, 30, 90 дней. Доходность чуть повыше тут, соответственно, но тоже не супер.
Но все же отмечу что это больше вклад чем в банке. Чем больше сумма тем больше пассивный заработок.
Activities
Activities — временные промодвижухи, где можно замораживать конкретные новые монеты. Скорее всего нужны чисто для пиара новых проектов, которые появляются на Бинансе. Доходность тут заметно повыше, чем в предыдущих пунктах.
Staking (Locked Staking)
Staking (Locked Staking) — это заморозка конкретных монет, которые поддерживают технологию стейкинга — фактически это то же самое, что POS-майнинг. Короче, замораживаешь крипту на определенный срок, и тебе блокчейном выделяется определенный пассивный процент. Делать такое можно и вне биржи, используя родные кошельки соответствующих монет. Binance просто берет на себя роль посредника, и упрощает нам жизнь — ведь можно стейкать кучу разных монет в одном месте, не устанавливая себе на комп разные кошельки под каждый такой проект. Кстати, тут разморозить и вывести монеты можно и досрочно, не дожидаясь конца периода (30, 60, 90 дней), но тогда прибыль мы не получаем — чисто тело вернут. Доходность тут так себе, но, если у вас где-то валяются какие-то из предложенных монет и ждут своего часа, а он всё не наступает — то почему бы их не преумножить дополнительно?
DeFi Staking
DeFi Staking — здесь нам предлагается одолжить нашу крипту DeFi-проектам. Это сервисы p2p-кредитования по сути. То есть в данном случае биржа Бинанс выступает лишь провайдером — посредником, предоставляющим доступ к этому инструменту. Все риски несет на себе инвестор, то есть вы. Доходность неплохая, сроки гибкие, но есть риск, что соскамится сам DeFi-сервис, который вы выбрали. Так что с этой штукой надо быть поосторожнее, не заигрываться. Замечу, что в остальных всех рассматриваемых нами пунктах Binance обещает нам 100% возврат средств — мамой клянутся товарищи
Liquid Swap
Liquid Swap — немного заморочистый вариант, где мы инвестируем крипту в пул ликвидности для какой-то валютной пары — например, ETH/BUSD. Фишка в том, что наши деньги как бы распределяются по двум сосудам (в нашем примере это ETH и BUSD) и хранятся в смешанном виде, переливаясь туда-сюда в зависимости от ситуации. Люди оперативно меняют через такие пулы крипту, платят за это комиссию, и часть от неё раздается инвесторам пула. Доходность средненькая выходит, как я вижу, но бывают «выстрелы» в отдельных ситуациях. но все же если не хочется терять даже 1 % прибыли.
Но если хочется пассивный заработок, я бы советовал ставить пару USDC/USDT.
Пассивный заработок на бирже Бинанс
Регистрируйся по ссылке и получай кешбек в размере 5% от депозита
Launchpool
Вероятно, вы уже слышали о Binance Launchpad. Это платформа для запуска токенов, на которой многообещающие проекты финансируются пользовательской базой Binance посредством первичного биржевого предложения (IEO). Также вы могли слышать о доходном фермерстве и майнинге ликвидности: пользователи блокируют средства в пулах ликвидности, чтобы «майнить» новые токены.
Что будет, если совместить IEO и доходное фермерство? Launchpool. Вы блокируете BNB, BUSD и другие криптовалюты, чтобы получить долю пула нового токена, запускаемого на Binance. Иногда токены запускаются на Launchpad и на Launchpool одновременно.
Launchpool – хороший способ получения пассивного дохода, так как стоимость получения новых токенов – всего лишь стоимость заблокированных токенов. Кроме того, вы можете вернуть заблокированные средства в любой момент в течение периода фарминга.
BNB Vault
BNB Vault — вот это крутая опция, по сути — беспроигрышная инвестиция монет BNB «под ключ». То есть Binance в данном случае сам определяет, куда лучше пристроить наши монетки, и оперативно перекладывает их туда, где получше — где выше текущая доходность. Это очень удобная штука: начисления ежедневные, без заморозки, и используются только безрисковые варианты из списка выше. Короче, вариант для ленивых держателей Binance Coin, которые не брезгуют дополнительным заработком на пассиве.
Мои рекомендации:
Я бы посоветовал использовать Launchpool и BNB Vault — потенциально это самые доходные варианты.
Кстати, хочу отметить, что замороженные монеты BNB годятся для использования их в Binance Launchpad. 100% пассивный заработок.
Для тех, кто не знает, это раздел, в котором биржа Binance проводит специальные лотереи для участия в своих IEO. Фишка в том, что желающих поучаствовать в таких распродажах обычно раз в 10 больше, чем реально доступно токенов, и среди потенциальных инвесторов проводятся розыгрыши, чтобы определить, кого допустят к участию в IEO.
Так что регистрируемся на Бинансе, кто ещё по каким-то странным причинам этого не сделал:
Регистрируйся по ссылке и получай кешбек в размере 5% от депозитов.
What Is Binance Flexible Savings
Cryptocurrency, shortened as crypto, is any digital or virtual currency. To ensure that transactions are secure, cryptocurrency uses cryptography as a means of security.
Cryptocurrencies do not have a regulating or central issuing power; rather, they depend on a decentralized system to record transactions and issue new units. It doesn’t depend on banks to conduct transactions.
So what does it use? It depends on a peer-to-peer system that allows anybody to send and receive payment anywhere. This currency exists purely as digital entries and is recorded on an online database that describes specific transactions.
Every transaction made with cryptocurrency funds will be recorded in the public ledger. Every owner of cryptocurrency keeps their funds in a digital wallet.
Cryptocurrency’s name is derived from its use of encryption to verify and keep transactions. This is why cryptocurrency can only exist in the digital and virtual space, as it uses encryption methods that only computers can understand.
This advanced coding used to store and transmit crypto data provides security and safety as transactions between wallets, and public ledgers are happening.
Bitcoin was the first Cryptocurrency and was established in 2009. It remains the best known today. It is not the only cryptocurrency. Other cryptocurrency options include DogeCoin and Ethereum, BNB (Binance Coin), Tether and Solana.
Meanwhile, to have these currencies exchanged or traded, one would need the services of a cryptocurrency exchange or a digital currency exchange (DCE).
A Cryptocurrency exchange is a business that allows customers to trade cryptocurrencies and digital currencies for other assets like other digital currencies or fiat money.
Crypto exchanges have functions that are similar to online brokerage platforms. You can use them to purchase and sell digital currencies or tokens for various cryptocurrencies.
Crypto Exchanges accept wire transfers and credit card payments in exchange for digital currencies.
One such dedicated cryptocurrency exchange is Binance.
Binance and Overview What Is Binance Flexible Savings
Beau Troxclair’s YouTube channel 0xBeau has a video review of Binance. For those who like a visual experience, this is the video. You can still read our article for a complete overview of Binance.
When it comes to cryptocurrency exchanges, Binance continues to be one of the top cryptocurrency exchanges in the world. It has the highest trading volume of any crypto exchange by offering users the most cryptocurrency trading pairs.
Binance was founded in 2017 by Changpeng Zhao (“CZ” Zhao). Although it was originally based in China, it was quickly relocated to the United States due to increasing crypto restrictions. Since then, it has moved from Japan and Malta but did not have a permanent place to call home.
However, news has come out that the company signed a memorandum with Bermuda and Malta to finally establish its home base. What Is Binance Flexible Savings
Binance’s popularity was due to its user base who liked the low fees, availability of cryptocurrencies and innovative products. Currently, the platform offers a multitude of crypto-based products.
You can access services such as exchange, earn and staking, derivatives loans, payments credit cards, NFTs and more from Binance.
Binance also has its set of unique tokens and cryptocurrencies. One of which is BUSD, a stablecoin, and the other is BNB which is known as a strong performer due to its low fees.
However, Binance has its problems and dark sides.
The United States Department of Justice (Internal Revenue Service) investigated the company in 2021 for money laundering and tax crimes.
The Financial Conduct Authority of the United Kingdom ordered that the platform stop all regulated activities in June 2021. However, this ban had a limited scope and non-registered companies can still interact with UK customers.
Earlier that year, it was set up to launch its own digital asset marketplace in Britain, but it withdrew this application due to not meeting anti-money laundering requirements.
Also, in the same year, Binance was said to have shared client data, including names and addresses, with the Russian government. The Russian government justified this as a way to help them fight crime.
Binance Perks
Large Crypto Selection
Given that the company is among the biggest cryptocurrency platforms in the market. It is not surprising that there are many cryptocurrencies and digital currencies available. Some of them include decentralized finance (DeFi) tokens, stable coins, alt coins, and popular cryptos.
A few examples of this include:
- Binance Coins (BNB)
- VeChain (VET)
- Harmony (ONE)
- VeThor (VTHO).
- Dogecoin (DOGE)
- Matic Network (MATIC).
Binance offers support for popular cryptocurrencies like:
- Dash (DASH)
- Compound (COMP).
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC).
- Cardano (ADA)
- Cosmos (ATOM)
Low fees
No platform offers trading currencies and tokens for free. Binance is a trading platform that offers deals that are often as good as free. Comparable to other cryptocurrency exchanges, which charge commissions and fees, this is quite a difference. So far, the highest spot trading fee is 0.1%.
The platform uses a maker/taker fee structure. Fees will vary depending on trading volume or Binance Coin (BNB). balance. The fees for trades that involve high volumes are generally lower. What Is Binance Flexible Savings
What’s more, is that users can also get fee discounts for some services. Such as:
- Using Binance (BNB) coins in trades
- You can become a Very Important Person (VIP) by trading certain assets.
However, Binance users still have to pay additional fees. There will be different fees depending on the type of withdrawal and payment type. As a sample, you refer to the chart below
- Wallet
- Debit Cards
- ACH transfer
- Wire transfer
- Crypto Conversion
- Trades
- Buy/Sell Crypto
- N/A
- 4.5%
- No cost
- $15 for U.S. Customers
- N/A
- 0.00% to 0.1%
- 0.50%
We can discuss more about fees in a later section.
Regulatory Attention
As covered in the overview, one of Binance’s main drawbacks is that it has been in the crosshairs of some countries. Major countries that have it in for Binance include Japan, the United Kingdom, Canada, Singapore, and Thailand.
The United States authorities are currently investigating the platform in regard to possible money laundering, tax fraud, and insider trading. Binance has not been charged and no criminal charges have been filed. Only time will tell if anything comes out of this.
In response, Binance has taken steps to strengthen its compliance team and keep regulators onside. This could be difficult as many of the products that Binance customers love are also those that attract regulatory attention.
It is not available in the U.S.
In response to regulations targeting Binance’s business in the United States, they had to build a separate platform for U.S. customers called Binance.US. The U.S. version Binance offers fewer features and less cryptocurrencies.
Binance.US trades more than 120 cryptocurrencies, but does not offer futures trading. It is also not available in all countries. It’s unavailable in Hawaii, New York, Texas, or Vermont.
From then on, you will have to wait for an email from Binance to ensure that your account has been verified.
Trading Experience
Binance provides a wide range of trading tools, as we have already mentioned. Some of these tools include their real-time charting tools with moving averages and exponential moving averages. Trading is also convenient and accessible, as users can place trades through the Binance app, Binance website, or Binance desktop app.
Traders can also use the platform to look at their portfolios and trade history. The platform allows them to view their order book and price charts. You can also choose from a variety of order types. They can stop orders, limit orders, stop-limit orders, stop-market orders, and trailing stop orders.
Also, users can choose different trading views to easily comprehend data or view them in a way they prefer. There are many views to choose from, including classic, margin and OTC views.
Your trading fee percentage will depend on your trading history in the past 30 days and the volume in the past 30 days. The amount of BNB you hold will also matter.
Some people, like Maker orders (those that add liquidity to the market), will also get lower fees than taker orders (those that remove liquidity orders from the market).
It also encourages users to use their native currency, Binance Coin (BNB). Anyone doing so can get a 25% discount on the trading fee. Binance offers 0% trading for selected Bitcoin and Binance USD pairs (BUSD).
Below is a chart that shows how VIP status and the 30-day trade volume are related to maker/taker.
| VIP | 30-Day Trade Volume (BUSD) | Maker/Taker |
| 0 | Below 1,000,000 | 0.10%/0.10% |
| 1 | 1,000,000 to 4,999,999 and at least 25 BNB | 0.09%/0.10% |
| 2 | Between 5,000,000 and 19,999,999 with at least 100 BNB | 0.08% / 0.10% |
| 3 | 20,000,000 to 119,999,999 and at least 250 BNB | 0.07% / 0.10% |
| 4 | 120,000,000 to 199.999.999 with at least 500 BNB | 0.07% / 0.09% |
| 5 | Between 200,000,000 and 499,999.999 and at most 1,000 BNB | 0.06% / 0.08% |
| 6 | 500,000,000 to 999,999,999 and at least 1,750 BNB | 0.05% / 0.07% |
| 7 | 1,000,000,000 to 2,499,999,999 and at least 3,000 BNB | 0.04% / 0.06% |
| 8 | 2,500,000,000 to 4,999,999,999 and at least 4,500 BNB | 0.03% / 0.05% |
| 9 | More than 5,000,000,000, and at least 5,500 BNB | 0.02% / 0.04% |
Security
Binance is a platform that handles sensitive and high-stakes data. It should be expected that it has strong security measures to protect their assets and clients.
Binance offers two-factor authentication via the Google Authenticator app, or a short message service for customers. It uses address whitelisting, device administration, and the ability restrict device access.
Binance claims that it has its own insurance fund. Binance stores 10% of trading fees in a safe fund. This insurance fund is supposed to protect against hacking losses, which Binance is well-versed in (more later).
Although this insurance does not provide the same protection as third-party insurance, it can give some protection.
Binance also keeps its most important security feature, its funds, offline, in cold storage. This is to avoid any contact with hackers.
That said, customers should still be wary of Binance since its security needs a better track record. The platform was hacked in early 2019 for $40 million in BTC. Another major hack occurred in October 2022. This time, it cost them $570 million in BNB.
There is a silver lining to this. Sometimes, it would be more beneficial for exchanges to experience these incidents so that they can determine which part of their security to fix. The customer side can at least see how the platform handles them and their customers when these incidents occur.
Binance quickly responded to the hack and reimbursed all those affected through their Secure Asset Fund for Users. This cold storage wallet keeps enough capital to cover users’ losses.
Customer Service
Binance provides three options for customer support. You can submit a ticket, ask a basic question through chat, and reach out via Twitter.
You simply need to fill out a form on the Binance website for tickets. You will be able to get email assistance by submitting a ticket.
If you are approaching them through Twitter, you only need to tag or mention Binance on their Twitter account (@BinanceHelpDesk) for support. Because it is more visible, Binance encourages users to tweet about their problems through this channel.
Lastly, Binance has a chat box on the bottom right corner of the support screen if you want a more direct approach. You can access this on the Binance website.
- There are many Cryptocurrencies to choose from: You can purchase everything from Bitcoin to Dogecoin, Etherium and more at Binance. With the addition of cryptos such as Fish (FISH) or Fanverse (FT), that number is increasing.
The platform even has its crypto in the form of BNB. This allows crypto investors and traders flexibility in making their selections.
- Advanced Trading Tools
The tools that a trading platform provides to its users will determine how good it is. Binance provides enough tools to allow users to trade more easily. Investors and traders will have no trouble trading on the platform.
- Multiple ways of Depositing Money
You cannot start trading if you have no money at stake. That is why, Binance allows for easier access and start to crypto trading through its multitude of ways to deposit funds
- Flexible trading Options and Order Types
Bear in mind, trading is like a gamble. The assets and stock own may be valuable now, but you will never know when their values will drop. As such excellent trading platforms like Binance should provide users the flexibility to do their trades in a matter, they see fit. What Is Binance Flexible Savings
- Platform can seem overwhelming to beginners.
Multiple options and advanced tools can be a bad thing. A multitude of choices can overwhelm beginners and make it difficult to choose from. Some experienced traders even claim they are intimidated by Binance’s many available options.
- Regulation issues in many countries
Binance has been faced with numerous legal and regulatory issues. In fact, this is a glaring issue that has multiple investors considering other exchanges.
Despite this, the platform is working hard to resolve these regulatory issues.
- Not available in the United States
Due to issues with the United States regulatory bodies, Binance was somewhat banned in the country. That is why the parent company created Binance U.S., a U.S.-exclusive version of the platform.
Binance U.S. has a smaller selection than the original Binance. Furthermore, it is also not available in some U.S. states like New York and Vermont.
- There is no built-in digital wallet
Many popular cryptocurrency exchange platforms include their digital wallets as part of the platform. For some reason, Binance does not. Rather it recommends a third-party service called Trust Wallet. While it has a good reputation, there might be issues as they can only offer limited support What Is Binance Flexible Savings
Binance Last Thoughts
Let me begin by saying that I’m a complete beginner when it comes crypto. All my knowledge comes from a few youtube videos, an article here and there, and some Reddit threads.
I chose Binance for the main reason that many choose the platform, and that is because of its low fees. I entered cryptocurrency because I wanted to see what the fuss was all about. This is not something I intend to take seriously.
Creating my account from scratch and verifying it took no time. Within just a few minutes, I could look at the UI and everything the platform offers. And here is what I have to say…..
With confidence, I can say that Binance is not for beginners. I can tell you that the myriad of choices presented to me by Binance was pretty intimidating and overwhelming. I had to get a friend to teach me what all the stuff was all about.
With his assistance, and some tutorials from Binance Support, it was easy to get my bearings and start trading. Although it is still confusing at times, I am slowly getting the hang of trading.
Right now, I hope I bet on the right horse, not the wrong one.
Is Binance Safe?
Yes, it is safe, but it does not have a good track record.
Binance does have its own security measures, but it has been hacked twice. Although the company increased its security, it will be determined if they can withstand attacks.
How do you decide if Binance is right for you?
To be honest, it is difficult to pinpoint which platform is right for you until you read their reviews and try the services yourself.
However, for the sake of having an answer, you may deem Binance is a right fit for you if:
- You’re not new to crypto trading and have intermediate-level experience in trading.
- You want a service that charges low fees and carries many currencies.
- You’re looking for advanced features in your service.
- You are an institutional trader carrying a high or ultra-high net worth.
- You are not a citizen of the United States.
Bianance offers FOREX trading
Binance doesn’t offer Forex trading (Foreign Exchange Trading) traditional Forex.
The main reason is that it lacks the amount of currency pairing needed to join the FOREX exchange. To enter FOREX-only exchanges, a company needs access to thousands. It is a far cry from Binance, which only has over 50 currency pairings.
CFD trading is offered by Binance
Binance offers CFD (Contracts For Difference) trading.
They are still controversial in crypto, and many prefer native assets. These assets, unlike CFD’s can be easily withdrawn to a personal account. That said, CFDs do have their advantage. They can be extremely liquid.
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What is Binance Savings? How To Use Binance Savings-Beginner Guide
This article will guide you on Binance Savings and how to use Binance savings.
While the savings rates on bank balance are declining rapidly, many investors who don’t want to trade are looking for alternatives to provide them with the most considerable profits.
The average bank savings account today yields about 0.02% annual interest. It indicates that the 1,000 Dollars you submit on 1 January will have delivered no less than 20 Dollars on 31 December. Nobody is happy with such savings unless you have a tremendous amount of money to put in the bank and earn some decent returns.
Banks also put various constraints on your balance. You cannot withdraw your balance until some specific date; there are maturity periods and other restrictions, while in Binance savings, there are no confinements.
Do you think trading in crypto might be a little baffling and unpredictable? Then consider crypto Savings at Binance.
What is Binance Savings?
Binance Crypto Savings is the lending of cryptocurrency to Binance. In plain words
you give your crypto to Binance, and Binance gives you rewards for that while you do nothing.
Binance saving works like banks. You transfer money to banks, and they invest your money in various projects or whatever they like but deliver you some percentage of profits. The same is the case with Binance savings, You give your digital cash to Binance, and they pay returns on that; more often, these returns are more excellent than bank interest rates.
Interest is calculated for borrowing and lending money. When you borrow money, you pay interest. And when you lend money, you receive interest. So the theory is not so complex to understand.
You’re lending your crypto to Binance. For that, you gain a certain fee, and that fee is your interest.
The drawback is that the return may not be as high as you could earn from trading crypto, but the benefit is that you face considerably lower risks than trading cryptocurrencies.
The term Binance Savings should not be confused with Binance Margin.
Savings are where you lend crypto to Binance. There is a different way where you can borrow crypto from Binance, and that is Binance Margin.
With the aid of the Binance margin, you can trade crypto with borrowed money from Binance.
But Binance Savings is the exception where you lend your crypto to Binance and obtain a fee for it.
Binance currently had two live versions of Binance Savings.
They are Flexible Savings and Locked Savings. We’ll explain both kinds of Binance Savings.
Flexible Saving
The term flexible saving speaks for itself. With flexible savings, you have your crypto at your disposal.
You can withdraw your funds, or you can trade with your flexible savings funds.
By flexible saving, you can make profits by lending your crypto to Binance.
Binance flexible saving interest is calculated daily. If you try to pull out your funds before daily interest payment, you will get nothing. Make sure to withdraw or trade with your flexible savings funds after the time of interest payments.
It is possible to lend more than forty different types of crypto on Binance flexible savings.
How To Use Binance Flexible Saving?
I will lead you all together on how to earn with Binance flexible savings.
Binance Flexible Deposits
As you can see in the picture, the annual interest rate (APY) varies per coin.
Depending on your interest, you can pick the coin you want to lend to Binance and start.
Keep in mind that every coin has its daily quota. Therefore, it is not permissible to deposit 100 Bitcoin on one day, but you will find a limit on every coin on Binance Savings (flexible).
You can see how much space there is left to lend any crypto. If there is an opening, you can invest in your wanted cryptocurrency.
Now I will guide you on options you have when you decide to lend your crypto to Binance for a flexible period.
First of all, choose from the coins available. For example, we want to lend Binance USD coin (BUSD) to Binance.
Click the yellow button “Transfer” OR “subscribe” behind the coin BUSD.
A new window will open.
Enter the number of BUSD you want to lend to Binance savings, agree to the Terms & Conditions, and click on “Transfer.”
Your amount is assigned to Binance flexible savings, and you will commence earning fees as rewards.
How Do You Get Your Crypto Out Of The Flexible Savings?
You can take your crypto out of the flexible savings every day between 00:10:00 and 11: 50 (UTC).
In the other 20 minutes, the interest calculation and award distribution will take place.
You have two distinct ways of getting your crypto out of the savings funds. You do this by clicking on “Redeem” in the asset tab; there are two steps of redemptions.
Standard Redemption
With the Standard redemption choice, you prefer to finish the current day and get the crypto paid at the end of that day. By doing so, you earn interest on the present day.
Fast redemption
With the Fast redemption option, you choose not to finish the current day and immediately terminate your savings. Any accrued interest on that day is not paid. You will take the crypto back to your account in 30 minutes.
Binance Locked Savings
The counterpart of the flexible savings is the Locked Savings. Here you lend your crypto to Binance for a fixed term. The fixed Binance savings has advantages (compared to the flexible savings) for both parties.
Advantages of Locked Savings
- You recognize precisely how much interest you get paid.
- You know exactly when you’ll get your crypto back.
- Binance identifies that they have access to your crypto for this particular period.
- Binance is not at risk of the crypto removed from its portfolio in the meantime.
As you lock your crypto for a particular time, the interest you earn over your crypto is also more engaging.
This makes it appealing to give up your crypto to Binance fixed savings.
It is currently possible to lend more than fifteen different cryptos to Binance for a fixed time.
Again, the interest rate diversifies from one coin to another, but it also depends on the number of days you are prepared to lock up your assets.
Commonly speaking, the longer you lend it, the bigger the interest rate.
A period of 30 days of one coin yields more interest than a lock up period of 14 days.
How To Use Binance Locked Savings?
Unlike the Flexible Savings, you can’t fill the Locked Savings 24 hours a day.
Binance opens a circumstantial timeframe for locked savings, in which investors can elect to lock down their crypto for a longer period.
The more extended period is the choice between 7, 14, 30,60, or 90 days.
As the cryptocurrency markets are rapid in price movements, the principal drawback of Binance locked savings is that numerous changes can come at the prices of coins even in the least requirement of 7 days period.
It might make you less satisfied when you see the prices of crypto going down, and you can’t touch your holdings of coins because they are currently fixed for a few percent return.
So it is solely up to you whether you want the fixed savings or prefers flexible savings.
If you desire to go for the fixed savings, that’s how you do it.
How do you lend crypto on Binance Fixed Savings?
Binance reveals particular coins for locked savings. When the subscriptions of these coins open, you need to avail of these subscriptions before it closes.
When the subscriptions open, there are comprehensive details on interest rates and lock-up time.
Other than subscriptions, there are coins open that you can subscribe to at any time. You don’t need to wait for any opening period for depositing these coins.
But prominent names like BTC, ETH, BNB locked saving are subscription-based and are not open daily.
- To avail, Binance locked savings go to “Finance” at the top of the page and click “Savings.”
- From the “Savings” Page, go to Locked savings.
- You will notice a listing of coins that are open for Locked savings.
- Select your coin and click “Transfer.”
A window, as shown above, will open.
- Pick the number of days for locked savings.
- Enter the lot size. For USDT, one lot is equal to 100 USDT.
- Conform to the terms and conditions and click “Transfer Confirmed.”
- That’s it, Your crypto will lock for a specific period, and you will begin earning interest.
Main Terms In Binance Locked Savings
Subscription: the time window in which you can decide to join your desired coin.
Lot Size: The number of coins considered to be one lot.
Individual Max: Maximum number of lots you can register.
Coupon by Lot: The interest you receive after the full maturity by ‘lot.’
Value date: The date your fixed savings is starting.
Redemption Date: The day on which the funds and interest are paid out.
Expected interest: How much interest you are expected to earn.
Which Crypto Coins are Available On Binance Savings?
It is possible to join many coins in Binance Savings. Of course, the nobler coins are practically covered, but smaller coins are also present for savings.
Available Crypto For Flexible Savings
It is likely to lend different types of crypto on Binance for a flexible period.
The list keeps on growing with time as more and more coins are added frequently. Current coins ready for crypto savings are:
- BNB
- BUSD
- ONT
- ARPA
- EUR
- USDT
- DAI
- USDC
- ADA
- ATOM
- BAL
- BAT
- BCH
- BTC
- COTI
- DASH
- EOS
- ETC
- ETH
- IOST
- IOTA
- KNC
- KAVA
- LEND
- LINK
- LTC
- NEO
- TRX
- UNI
- VET
- XLM
- XMR
- XRP
- XTZ
- ZEC
- ZIL
Available crypto for Locked savings
Locked saving is often subscription-based. Top coins that keep on coming for Binance Locked savings are:
- BUSD
- ADA
- BNB
- BTC
- USDT
- DASH
- EOS
- ERD
- ETC
- ETH
- Link
- LTC
- MATIC
- USDC
- XMR
- XRP
- ZEC
Conclusion
Binance is working to produce many innovations in crypto markets. They have a separate division of research and investment where Binance is continuously trying to make advancements in cryptocurrencies. Binance is not merely a cryptocurrency exchange, but they are more than that. They are invariably bringing new techniques to earn from cryptocurrencies. Binance savings are only part of Binance investment opportunities for users.
Binance offers a Binance launchpad, Binance pool, Liquid Swap, Binance staking, Binance Launchpool, and many other investment techniques, where users can gain generous rewards without trading cryptocurrencies.
When investing in Binance savings, the only risk is that price of cryptocurrencies may fall. At the same time, your assets are locked for a fixed period, the rewards you gain may not be notable enough to cover the losses of price falls; in such case, users who don’t want any risk exposure should stake stable coins USDT, BUSD.
By doing so, there will be no uncertainty of unfavorable price changes. The rewards earned on stable coins are less than other cryptocurrencies, but it is more satisfying to make something while doing nothing with your crypto.
Binance savings is worth trying, You have nothing to loose in Binance savings, you will get decent profits on your cryptocurrencies.
Frequently Asked Questions
How To Manage Your Crypto During The Savings Period?
During the savings period, you can see your cryptocurrencies in the “Assets” tab. It will furnish you with a summary of your current deposits.
You can see the total amount submitted, the amount available for withdrawing, the cumulative quantity of interest you have made so far, and the interest rate for each coin.
What Happens After Binance Savings period Expire?
After the Binance savings period expires, you can withdraw your principal amount along with the interest you earned with a single click.
Can I get Staking Rewards In Addition to Binance Savings Interest?
No, when you put your crypto funds in savings, you can’t get Staking rewards. It’s either one or the other.
How To Lend Crypto On Binance?
Binance lending is now with the name of Binance savings. This article guides you thoroughly on how to lend crypto in Binance flexible savings and fixed savings.