Gone are the days when trading was the lone way to make money in the crypto scene. Cut to 2021, crypto holders have the opportunity to earn a bit of side income through their crypto assets even without trading. The move is pioneered by none other than the leading crypto exchange Binance. For those uninitiated, Binance has recently introduced a niche section called Binance Earn which offers diverse passive income possibilities for crypto holders signed up with the exchange. 

Binance Earn is more like your savings account but this time you have it in a crypto exchange, instead of a bank. The newly-introduced service is bustling with an extensive set of different financial products all of which extend great passive earning opportunities in their own ways. Here is a brief on the various categories of Binance Earn.

Flexible Savings

This section works akin to the demand deposit account in your bank. In this case, a user can deposit his crypto assets in his Flexible Savings account and enjoy interest from the dormant funds at regular intervals. You will be able to redeem the funds whenever you need to for using them for various activities. 

Fixed Savings

Users opting for Fixed Savings would have to deposit their crypto assets for a set period of time on a regular basis. Crypto holdings in Fixed Savings will incur a higher rate of interest compared to what you get with Flexible Savings.

Activities

This section refers to high-yielding staking activities which are to be jointly organized by Binance and different project parties. For higher returns, users would have to keep their assets locked on the Binance platform.

“Binance Earn is a commendable initiative by Binance. We are expecting it to bring more numbers of people to the crypto world since it offers a large range of earning possibilities even without trading.  However, if you are aiming for higher returns with Binance Earn, you will have a better opportunity with staking activities than the Flexible Savings option. Just remember, the lending activities come with capped supply and subscriptions would be shut down once they would reach the optimum limit”, stated Sydney Ifergan, leading crypto expert and founder of top online crypto media The Currency Analytics. 

Locked Staking

As the name says, this feature will enable you to earn rewards by staking your crypto assets on the Binance blockchain for a fixed locked period.

DeFi staking

Users would have a simplified opportunity to take part in various Decentralized Finance projects and earn high ROI- yet without the hassles of managing private keys, making trades, acquiring resources or performing other such complicated tasks usually needed for DeFi staking.

Launchpool

Launchpool would enable users to harvest new crypto assets and earn new crypto token rewards (new crypto tokens that would be launched on Binance) for staking various crypto assets in liquidity pools.

Asset Management

BSwap

Based on the concept of “liquidity pool”, BSwap enables users to attain high returns annually by contributing liquidity into Binance liquidity pool.

Dual Savings

Dual Savings extend non-guaranteed floating crypto earnings and better control on asset risk management. In other words, this feature allows you to earn solid passive income, irrespective of the price movement of your chosen asset. 

BNB Vault

BNB Vault serves as a yield aggregator which combines BNB Decentralized Finance Staking, Launchpool and Flexible Savings to churn out the highest possible APY returns for the user. 

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