How to Make Passive Income on Binance

There are many ways to earn money through online sites. You can polish your skills by doing work with different ways. Investing in projects is one way to make money. However, that normally requires detailed research and a great investment of time,  but it still won’t guarantee a trustable source of income. Even the best investors can experience prolonged periods of loss, and one of the ways to survive them is to have different sources of income.

There are different methods than trading that can help you increase your cryptocurrency holdings. These can pay ongoing income similar to earning interest, but only require some effort to set up and little or no effort to maintain.In this way, you can have different streams of income that, in addition with each other, can add up to significant amounts.

Binance Earn is a great way to increase the value of your crypto investments while you sleep easy, knowing that your funds are doing all the work for you. There are many options to suit all tastes depending on your risk allergy, duration of savings and expected returns.

Whether you want to stake your Proof of Stake (PoS) type cryptocurrencies, lend your funds to generate interest, or deposit them securely in DeFi protocols via Binance, everyone can find their account. So let’s take a closer look at what Binance Earn has to offer.

What is Binance Earn?

Binance Earn is a line of financial products that you can use to increase the number of cryptocurrencies you hold. You can think of it as your crypto savings account which keep your cryptocurrency safe. The difference between a regular savings account and this one is that cryptos give you a lot more possibilities.

Now I will  tell you about the main categories of Binance Earn to help you identify which service might best match the way you invest.

Flexible savings

Flexible Savings allow you to generate passive income with your funds. It is particularly easy to use and leaves you, unsurprisingly, great flexibility. You can deposit your money,  receive interest, and withdraw them at any time.

If you have some qualifying cryptos in your Spot wallet, why not deposit them into your flexible savings account? Since you can collect them at any time, it is very easy to place them as long as they are not used elsewhere.The interest rate will not be taken into account the same day you deposit in a flexible savings product. It will only be calculated from the start of the following day.

Locked Savings

Locked Savings gives you better returns but less flexibility to recover your money. The main difference is that you have to choose a predetermined length of time that your funds will be invested.  As the duration and interest rates are fixed, they are generally higher than those of Flexible Savings.

Flexible savings products have a downtime of 7 to 90days. So, if you know that you won’t need to touch certain cryptocurrencies for a certain period of time, you can lock them in to generate a bigger return.

One-off loans

One-off loans are special events that appear from time to time in the Activities tab of the Locked Savings section. They usually have maximum borrowing capacity, which means you’ll have to be quick to participate. One-off loans can offer higher returns than Locked Savings typically do.

Other than that, it can be said that these types of savings products work in a similar way to locked savings. But, since they’re only available every now and then, you can get better returns if you keep up to date with the news. Be careful to keep an eye on the announcements to have a place.

Locked Staking

By normally keeping Proof of Stake type cryptocurrencies in your Spot Wallet, you naturally receive their rewards; simple, efficient. However, it is also possible to generate higher returns through staking.

If you agree to block your PoS cryptocurrencies for a period of 7-0 days, you can get better rewards. This is basically the same difference as between flexible and locked in, but this time with staking.In addition, some cryptocurrencies also allow you to use Flexible Staking, where you block your funds for staking but still retain the possibility of withdrawing them at any time.

Launchpool

You’ve probably heard of the  Binance Launchpad before. It is a platform for launching new tokens where Binance users help fund promising new projects, in a process called  Initial Exchange Offering (IEO) . You may have also heard of  yield farming, or liquidity mining, where users block their funds in liquidity pools in order to “mine” a new token?

What happens when you put IEOs and yield farming together? The Launchpool. You can stake your BNB, BUSD and other cryptocurrencies to receive a share of the new token that is launching on Binance. Sometimes, these new tokens will also be launched via the Launchpool and the Launchpad at the same time. Launchpool is a great way to generate passive income since you receive new tokens with the only counterpart of the opportunity cost of staking your cryptocurrencies. In any case, you can withdraw your bet at any time.

High-Risk Products

The High Risk Products tab gives you access to some of the most advanced savings solutions. No worries, they are still relatively easy to use. Let’s take a look.

Binance Liquid Swap

Liquid Swap is a special kind of exchange that fixes the prices of cryptocurrencies using a mathematical formula rather than connecting buyers and sellers. If you have read our article on Uniswap, you must already know how this type of protocol works thanks to the addition of liquidity. Another term to designate it is that of the automated market maker (AMM) .

Liquid Swap is quite similar to Uniswap and other AMMs such as Curve Finance, but it is managed by Binance. It makes it extremely simple to quickly trade cryptocurrencies such as stable coins with little fee and slippage.

Very good, but what is the connection with my savings? Well, like Uniswap and the other AMMs, you can also become a market maker. All you have to do is deposit one (or more) stable coins authorized by the platform, and start generating interest. Who knows, maybe the return on these pools could be higher than what you would have had with other Binance Earn savings products.

Double investment

Dual Binance investments are a smart way to earn passive income regardless of the direction in which the price of your assets moves. They allow you to maximize the return on your savings while minimizing the risk of volatility. How does it work ? That’s the concept in two words.

You deposit a cryptocurrency, but you earn a profit based on the value of two assets. You therefore block your funds, generate a return, and earn more if the value of your cryptocurrencies increases during their blocking period.Put more simply, it’s a way for you to control your risk. If you want to dig deeper, read  The Quick Guide to Double Investing in Binance .

BNB Vault

The BNB Vault is a return aggregator that combines Flexible Span, BNB DeFi Staking and Launchpool to give you the best APY (annualized percentage return) possible. In addition, the BNB Vault is particularly easy to use.By storing your BNB in ​​the BNB Vault, you will receive BNB and other cryptocurrencies associated with the BNB Vault. Interest begins to be calculated from the second day, and rewards are distributed to your account each day.

You can withdraw your money at any time by two methods: Quick Refund and Standard Refund. Quick Refund allows you to get your BNB back on the day the request is made while losing the rewards for that day, while Standard Refund only returns your funds to you the next day, but retains the rewards for that day.

Binance Savings

Through Binance Savings, we offer a variety of products in which you can save or hold your cryptocurrencies and in return, you will obtain profits. You can opt for flexible savings, where you deposit and repay anytime you need it. You can also use locked savings, where you lock your cryptocurrencies for a period of time and then you can withdraw it with greater benefits.

 Store your cryptos in your Binance account and make a profit with Airdrops

Right now, you can store or hold your BNB in ​​Binance and you can receive tokens thanks to the SXP airdrop valued at 16 million dollars, this is available exclusively to BNB holders within Binance. This is a 12-week program where you can earn SXP tokens based on your BNB holdings and the rewards are distributed every week. Learn more about this program by clicking here. We also have more events like this planned in the future.

Spend your cryptocurrencies with the Binance Card (Available in Europe)

We are giving a new meaning to the word “You have to spend money, to earn more money”. With the Binance Card, which was recently launched in Europe and will be rolling out in more places soon, you can earn rewards in BNB when you use it at the thousands of Visa-enabled merchants around the world. The redemption rate starts at 1% and the more BNB you have in your Binance account, this rate will increase, up to 7%.

As you can see in our previous examples, you can earn more assets with Binance, whether you are a trader or not. All you need is to buy cryptocurrencies and join the various features that we offer you

Conclusion

Well … we can say that there are quite a number of options for generating passive income, Making your Binance savings work has never been easier, and the returns you can get are pretty good. Binance Earn lets you choose which product best suits the way you invest, so you can just relax in your chair and let your funds do the work.

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