Binance Earn presents a comprehensive range of financial products designed to enhance your crypto holdings, functioning much like a crypto savings account.
Let’s explore the primary categories of Binance Earn, helping you identify the best fit for your investment preferences.
Flexible Savings
Flexible Savings on Binance allows you to earn interest on your deposited funds while offering excellent flexibility. It’s a user-friendly feature that enables you to deposit your funds, earn interest, and withdraw them whenever you want.
If you have funds in your Spot Wallet that you’re not actively using, consider placing them in a Flexible Savings account to put them to work for you. The accessibility of these funds at any time provides convenience and ensures they remain available for other uses when needed.
Keep in mind that the interest calculation for Flexible Savings products doesn’t start on the day of subscription. Instead, the first interest payment is calculated from the day after your subscription, giving you the opportunity to maximize your earnings over time.
Locked Savings
Locked Savings provides an opportunity for higher returns, but it comes with reduced flexibility in accessing your funds. The key distinction is that you choose a predetermined duration for your funds to accumulate interest. This arrangement often results in higher interest rates compared to Flexible Savings products, as both the term and interest rate are fixed.
Locked Savings products typically range from 7 to 90 days. If you are certain that you won’t require certain funds for a specific period, you can lock them up to earn a higher interest rate during that time. This option allows you to optimize your earnings by capitalizing on the higher fixed interest rates while committing to a specific investment duration.
