Grow your cryptocurrencies with Binance’s many tools, all with a simplified interface accessible to beginners. Between staking, launchpad and double investment, discover the range of solutions offered by the largest exchange in the world to generate returns with your cryptocurrencies.
Make your cryptocurrencies work easily with Binance Earn
As the largest cryptocurrency exchange in the world, Binance often emerges as the first choice of exchange for newcomers to the world of cryptocurrencies or simply for people who do not want to bother with trading.
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Indeed, beyond the simple purchase of cryptocurrencies and trading, Binance also offers the possibility of making these work in a very simple way, and above all, through a wide range of financial tools, each of which offers different advantages.
This program, named “Binance Earn”makes it possible to combine the purchase of simplified cryptocurrencies with effective returns, in particular thanks to BNB, the native token of Binance, but also with many other cryptocurrencieswhether with liquidity farming, DeFi staking or Ethereum (ETH) staking.
In order to be able to use Binance Earn’s tool palette, it will first be necessary to register on Binance and complete the identity verification process (KYC).
The reference platform to buy and trade more than 600 cryptos
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If you need help creating your account on Binance, we invite you to read this dedicated tutorial.
Once the identity verification process is completed, you will only have to make the cryptocurrencies of your choice work. Here, the choice will depend entirely on you and the current offers of Binance Earn, the platform offering returns that will vary depending on the period in which you decide to subscribe to it.
Therefore, it will be necessary to both assess the potential of a certain cryptocurrency according to the current offers of the various programs offered by Binance Earn, but also according to your personal affinities with cryptocurrency in question.
What are the different programs available on Binance Earn?
To find the different Binance Earn tools, click on the “ Passive income » from the top bar of the site in order to view the different options available.
Figure 1: Overview of different Binance Earn solutions
To begin, we advise you to click on “ Binance Earn “. From here, you can find the main Binance Earn tools grouped in one place.
Generating passive returns on Binance with “Simple Earn”
As its name suggests, staking through simple gain is classic. Here you will have the choice of deposit your cryptocurrencies to make them work and generate a passive return by locking them in or in the form of a “flexible” return, which gives you the opportunity to withdraw your assets whenever you wish.
Part #1 shown below is divided into 3 sub-categories: Protected, High Yield and Auto-Invest. These each have their particularities, which are as follows:
- Protected: the protected mode is what best assimilates to classic staking. Here, all you have to do is select the cryptocurrency of your choice and then select the duration for which you want it to work. Binance Earn lets you lock in your cryptocurrencies for periods ranging from 21 to 120 days or as flexible savings. This option allows you to withdraw your cryptocurrencies whenever you want, but in return, it will offer you lower returns.
- High yield: similar to the operation of the “Protected” mode, this tool makes it possible to generate significant returns, but on assets with high volatility. Thus, the high returns option is more for advanced users who have already mastered the basics of staking.
- Self-Invest: the auto-invest plan is a ready-made method of dollar cost averaging (DCA), a strategy that smoothes the value of a cryptocurrency over the long term in order to deal with its short-term volatility. Concretely, Binance’s auto-invest allows you to establish a recurring purchase cycle for a certain cryptocurrency. For example, you can choose to automatically buy €50 worth of Bitcoin every 5th of the month.
Figure 2: Overview of the “Protected” savings mode
Binance’s “Simple Earning” space also includes a rather special feature of the platform: the BNB Vault.
As its name suggests, it is a safe to secure your BNB deposits, the native token of Binance. A true profit aggregator, the BNB Vault offers many advantages over Binance, including access to the exchange’s launchpool as well as rewards in the form of flexible returns.
Effectively, your BNB staked in the BNB Vault are not locked in : you are free to withdraw them as soon as you wish. As for the rates of return offered, these will fluctuate depending on the amount of BNB you decide to delegate to this tool.
If you are a BNB holder, this is undeniably the most comprehensive option on Binance given the myriad of opportunities the BNB Vault offers.
Figure 3: Overview of the BNB Vault interface
The different Binance Earn staking options
At the time of this writing, the section ” Staking from Binance comes in 3 different ways: Eth 2.0 Staking, DeFi Staking and Auctions on Polkadot (DOT). As for the part seen previously, each of these tools has its own level of risks and its own advantages.
Eth 2.0 staking allows you to place your ETH in exchange for BETH for a ratio of 1:1. So your tied up ETH can earn you up to 11.20% annual returns while allowing you to benefit from liquidity to perform various actions in the cryptocurrency market.
In addition, the Binance platform rewards BETH holders based on the positions they choose, and these rewards are paid directly into their spot wallet. Note, however, that your Ethers placed on Binance’s Ethereum 2.0 staking cannot be withdrawn. that once the Shanghai update is deployed on the Ethereum blockchain.
👉 How to stake on Ethereum? Generate passive income with your ETH
DeFi Stakingmeanwhile, makes it possible to benefit returns from decentralized finance with the security of the world’s largest exchange. As the cryptocurrencies available for staking vary from time to time, it may be relevant to monitor Binance DeFi Staking from time to time.
Specifically, this option allows you to place one of your cryptocurrencies in staking and generate preferential returns using smart contract technology. The staking of certain cryptocurrencies can sometimes be offered with or without a specific lock for a certain duration. When the latter is offered in parallel with flexible staking, its returns are much more attractive, but your cryptocurrencies will therefore be blocked for the chosen duration.
Figure 4: Overview of cryptocurrencies available for flexible or locked staking
Finally, DOT Auctions are rather recommended for people following the news of the Polkadot ecosystem and its parachains. On Binance, you will be required to stake DOT tokens for 7 days before you can vote for the projects you want so they can become parachains. If the project you voted for is selected, your DOTs will be blocked for 2 years, but you will receive an equivalent amount of BDOTs in return.
These auctions take place every 3 months and sometimes allow you to be rewarded with interesting amounts directly by Binance. In case the project you voted for did not have the chance to be selected, your DOT tokens will be returned to you in full.
👉 Read our guide to understanding everything about auctions on Polkadot and Kusama
Binance Liquidity Pools
Currently, Binance offers to reward its users providing liquidity to its various pools in 2 different ways: stable pools and innovative pools.
Once again, their main difference lies in the induced risk-taking. Stable Pools, less numerous, are often composed of first-class cryptocurrencies such as BTC, BUSD, USDT, DAI or WBTC. The returns from these pools, which are less substantial than the innovative pools, remain much more stable.
Innovative pools are made up of cryptocurrencies subject to greater volatility than those offered in stable pools. Annual returns are more interesting and can sometimes exceed 20%, but this will often go hand in hand with the risk induced to the assets concerned.
In 99% of cases, participating in these pools will allow you to be rewarded in the form of BNB, Binance’s cryptocurrency. Sometimes, when a new pool is added with a new token, it is possible that Binance rewards you with the token in question, in which case it will always be specified.
Binance Earn Double Investing
The double investment tool offered by Binance is similar to a limit order in trading, but presented in a simplified way. Thus, just like a classic limit order, the double investment will allow you to buy or sell a cryptocurrency by predicting the evolution of its price.
If you hold Bitcoin and its current price is at $17,000, double investing gives you the opportunity to set a higher selling price. For example, if you suspect that the market could rise significantly, you can choose to sell your BTC when the price reaches $17,500 by fixing the transaction beforehand.
Conversely, you also have the possibility of buying a cryptocurrency on the downside.
Also, Binance will pay you in stablecoins until your order is met in the event that you have chosen to buy low, or will pay you in BNB in the event that you have sold up. In both cases, Binance does not charge any trading fees on this type of transaction..
Note: Faced with pressure from regulators, Binance has decided to suspend double investment in USA in parallel with leverage effects in trading operations.
The Binance launchpad and launchpool: very popular tools
Binance also offers a launchpad and a launchpool : 2 tools to participate directly in the marketing of a new cryptocurrency. In both cases, these solutions allow blockchain projects to raise funds and reward their donors with their own token.
Binance launch pool allows you to stake BUSD or BNB in a liquidity pool in order to be rewarded with the token of the project concerned. In the example of the capture below, participating in a Hashflow liquidity pool allows you to be rewarded in the form of HFT tokens.
For Binance launchpadyou will have to commit BNB for a period of 7 days, then you will have a one-hour window to buy a certain amount of tokens from the project in question according to the allocation that will be allocated to you, itself depending the number of BNB staked.
Note that in both cases, trading of the tokens in question will be opened on Binance once the final allocation has been distributed. Then, you are free to keep the tokens or trade them directly on the Binance spot market.
Figure 5: Preview of an ongoing sale on the Binance launchpool
The interest of the Binance launchpad is twofold: for the projects presented, they benefit from the aura of the giant Binance with a community of several million users. For the users themselves, the latter are insured to have access to projects carefully selected by the Binance teams.
Indeed, projects wishing to be highlighted on the Binance launchpad must meet many criteria, pledge of seriousness and reliability. With more than 3.7 million participants in its various token sales and more than 65 projects launched, sales on Binance have become a benchmark for projects wishing to develop in a solid way.
Our Conclusion on Binance Earn Solutions
Ultimately, Binance offers here a very wide range of solutions to make your cryptocurrencies growwhether with its various staking offers or its various tools revolving around BNB.
We will particularly appreciate the fact of being able to withdraw our cryptocurrencies as soon as we wish in almost all the tools offered by Binance, an exchange which enjoys a strong reputation in the ecosystem, both in terms of its durability and its security. .
In addition, its DeFi staking offer is a quality gateway for beginners in the world of cryptocurrencies, as they can have access to many attractive rates of return without the risks of decentralized finance. The same is true for its double investment tools, which make it possible to enter types of orders that are not always easy to master.
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AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for cryptonewsherald to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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