How To Earn Passive Income With Binance Lending Service?

How To Earn Passive Income With Binance Lending Service?

How To Earn Passive Income With Binance Lending Service?

Binance launched Binance Lending Platform at 2019/08/28 6:00 AM (UTC), as a value-added service to Binance users who hold idle digital assets.

About Binance Lending

With Lending, Binance users will be able to grow their funds by earning interest income for lending out their holdings over a specific period of time.

In the first phase of the Lending launch, 14-day fixed term Binance Coin (BNB), USDT and ETC lending products will be made available, with further details below:

  • Annualized Interest Rates: BNB (15%), USDT (10%), ETC (7%).
  • Term to Maturity: 14 days.
  • Interest Payout Time: Immediately after loan term matures.
  • Subscription Format: First-come-first-served basis.

Lending Table

DigitalAssetTotal Subscription CapIndividual CapAnnualized Interest RateLot SizeInterest Per Lot at Maturity
BNB200,000 BNB500 BNB15%10 BNB0.057534 BNB
USDT10,000,000 USDT1,000,000 USDT10%100 USDT0.383561 USDT
ETC20,000 ETC1,000 ETC7%1 ETC0.002685 ETC

Example:

If User A subscribes to 10 lots of BNB Lending (total lend of 100 BNB), the interest earned at maturity date will be 0.057534 BNB x 10 = 0.57534 BNB.

How To Earn Passive Income With Binance Lending Service?

Step 1: Register Binance Exchange Account

– To register Binance Exchange account, please read this Tutorial: Tutorial Of Binance Registration

– After register Binance account successfully: You need to Deposit (Bitcoin, ETH, USDT,…) into Your Binance account.

Step 2: Join Binance Lending Service

– Login Your Binance account: Press on ‘Lending’ at top of page or go to this page: https://www.binance.com/en/lending

– Select the available item to purchase

– There will be a detailed description in the product page;

  • Lot Size: Price per lot
  • Maximum Subscription: Maximum lots You can purchase
  • Coupon Per Lot: Interest you will receive per lot after redemption
  • Value date: The day Binance start to calculate interest.
  • Redemption Date: The day Binance distribute the interest and the equity

– Example: We take USDT Lending service as an example

+ When USDT Lending services is open, You must press on ‘Subscribe’ button

+ Note: Please make sure that there are enough assets in Your Binance exchange account (Assets in pending order and Margin account are not eligible)

+ Enter USDT amount, You wish to purchase and tick in box ‘I have read…’ then press on ‘Confirm Purchase’ button

+ After a successful purchase, system will deduct the corresponding amount in Your balance, You can check the detail in the ‘Successful Purchase’ Page

+ When it reaches due date, redemption will happen automatically. The Equity and interest will be distributed to Your account at once, You can see them in your ‘Balance’ page.

More Information

– The annualized interest rates for upcoming phases will be adjusted based on market reception of this initial phase. Please refer to future announcements for interest rate updates;

– Stay tuned for more Binance Lending products that will be released soon;

– Please refer to Binance Terms of Use prior to using any products on the Binance Lending platform.

For More Other Tutorial Of Binance Exchange, Click – HERE
For More Information Other Exchange Platform, Click – HERE

Good luck,

Subscribe

You May Like

Earn Bitcoin Free

Latest Articles

What Is Next For Facebook Cryptocurrency?
NEWS

What Is Next For Facebook Cryptocurrency?

What Is Next For Facebook Cryptocurrency? In the three months since the Libra announcement, the project has faced intense criticism. In a recent comment to Decrypt, Libra communications chief Dante Disparte said Libra had become “the […]

DASH Is Launching On Coinbase Pro
NEWS

DASH Is Launching On Coinbase Pro

DASH Is Launching On Coinbase Pro On Monday September 16, 2019, Coinbase Pro will begin accepting inbound transfers of DASH to Coinbase Pro. They will accept deposits for at least 12 hours prior to enabling […]

Categories

Subscribe

Comment

  Subscribe  
Notify of