May 14, 2021
Binance is the world's largest cryptocurrency exchange for trading several cryptocurrencies. It was founded in 2017 by Changpeng Zhao, that operates globally except in the United States. In 2018, it was considered the last largest crypto exchange platform and retained its title up to this year.
Binance is not only a good place for crypto trading because it also offers a lot of cryptos earning opportunities for its users to grow their assets even without trading. While holding your assets on Binance, you have the freedom to allocate your assets to different activities and services they launched on the platform.
Not every day is a suitable day for trading, so it is much better to put your assets at work to generate more profits. And some users are skeptical to trade their assets, especially the newbies. Here are some lists of the services I have taken as well to grow my assets while holding them on the platform without trading.
Earn While Holding Crypto On Binance Without Trading
BINANCE SAVINGS
To see this option, go to:
Home > More > Finance > Savings
Binance Savings has two terms: Flexible and Fixed Savings
FIXED SAVINGS
Binance Fixed Savings offers users higher returns by locking your assets for a certain period to accrue interest. Both term and interest rates are both fixed so it will generate higher interest. The locking period ranges from 7 to 90 days. So if you don't want to use your asset in trading, much better to lock them in your Fixed Savings account to earn a higher APY.
FLEXIBLE SAVINGS
If you don't want to lock your assets, you can choose flexible savings. Binance Flexible Savings allows users to lend their assets on Binance Margin to generate returns and will act as your Crypto Savings Account. And since it is flexible, you can redeem anytime, and you will receive the total amount you have staked including the daily interest you have accumulated.
You can also choose to enable the automatic subscription function and it will automatically transfer your assets from your Spot Account to your Savings Account. To know more about Flexible Staking, visit this link. https://www.binance.com/en/support/faq/360034998492
BINANCE STAKING
Users on Binance can earn up to 25% passive income annually. There are two types of Staking on Binance: DeFi Staking and Locked Staking.
To see this option, go to:
Home > More > Finance > Staking
LOCKED STAKING
Binance Locked Staking allows users to lock their assets on a Proof of Stake blockchain over the predetermined period to generate returns. The longer you lock your assets and the more assets you stake, the higher the returns. You can choose to lock your assets between 7 to 90 days.
The amount you want to use in lock staking will be deducted from your spot account. The interest will start to incur interest on the second day of staking and will be distributed on the third day. For the redemption, you can redeem your funds in advance as it requires a certain unlocking period which takes 1 day to unlock and 1 day to redeem.
To know more about Binance Locked Staking, visit this link. https://www.binance.com/en/support/faq/650826666c344c15a062932983a38c2e
DEFI STAKING
I never tried DeFi Staking on Binance though, but for those risk-takers, you can try this to generate more profits. Binance Defi Staking acts on behalf of the users and helps them participate in DeFi services within the platform. But consider the risk before participating in DeFi staking.
You can earn up to 25% annual return on DeFi Staking. DeFi Staking on Binance is easy to use and you don't need to perform complicated tasks to participate in staking. Binance also makes sure that the funds are safe by only choosing the best projects in the industry and users can earn higher returns in the best way. Visit this link to know more about DeFi Staking on Binance: https://www.binance.com/en/
BNB VAULT
To see this option, go to:
Home > More > Finance > BNB Vault
BNB Vault is an earning service for BNB holders. It allows users to maximize the income potential from both decentralized and centralized finance. Once you place your BNB in the vault, you will be eligible to earn daily interest in BNB, as well as new tokens from the launchpool, and BNB flexible savings, DeFi staking, and more.
I'm currently holding my BNB in the vault, and here are my rewards.
The APY is estimated between 5% and 10%, and anyone holding BNB in the vault is still eligible for the Daily BNB Balance Calculation, like airdrop, Launchpad holding position, VIP rights, and more. You can also redeem your BNB at any time including the accumulated rewards.
To know more about BNB Vault, visit this link https://www.binance.com/en/support/faq/8da1d801a90745fcb9ebdbf0143df29e
LAUNCHPAD
To see this option, go to:
Home > More > Others > Launchpad
Binance Launchpad already launched 45 different projects and has an All-Time Unique Participants of 1.4M. By staking your BNB, BUSD, and other tokens on the launchpad, users can accumulate new token rewards.
Binance Launchpad aims to handle marketing, and give liquidity and exposure for the new projects to millions of users of the platform. Visit this link for more info, https://www.binance.com/en/support/faq/d7f47120ec0c48cab7f8557d5d78435c
BINANCE SAVING ACTIVITIES
To see this option, go to:
Home > More > Finance > Savings > Activity
Binance Savings Activities are special events that offer higher APY than Locked Savings. The products usually have limited supply so if you wish to subscribe to the featured products, you need to be quick.
To know further details on how to subscribe to Savings Activities, visit this link https://www.binance.com/en/support/faq/b95df6214e5f4c9e9699ac8512d6b153
After maturation which usually takes about 30 days, the products will be redeemed automatically, and the assets and earned interest will be sent to your Spot Wallet Account.
LIQUID SWAP
On Binance, you can also add assets in the Liquidity Pool like on other DeFi platforms to become a Liquidity Provider and earn transaction fees and flexible interest. Swapping two digital tokens or fiat assets in the liquidity pools is also available. I never tried this yet but I might consider adding assets to the pool someday as it has a higher APY.
Binance Liquid Swap has two types:
Take note that Liquid Swap on Binane is as risky as other DeFi platforms. There are possible losses as well caused by Impermanent Loss, frequently adding and redeeming assets can also affect the shares due to excessive slippage.
To know more about Liquid Swap, visit this link https://www.binance.com/en/support/faq/85d614205d334128b76c0275aba61ea6
Binance Earn also has Dual Investment and Ethereum 2.0 Staking, if you want to know about these two, you can visit your Binance account and explore the Binance Earn corner.
There are a lot of ways to earn more crypto on Binance for those who are afraid of trading. You just need to explore the platform and check the aforementioned services of Binance. But always remember to DYOR and conduct due diligence before taking any actions which involve investment. This article is not for financial advice but educational purposes only, be responsible for any action that you will perform in the crypto space. Understanding how the crypto space works and its platforms are truly recommended, so always DYOR to obtain more knowledge about this complicated world.
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