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Do you want to get a passive income, i.e. when you do what you want to do, and money is dripping into the wallet by itself? Most of us are very sceptical about passive income. And it is evident because there is a lot of fraud, scam, and other online and offline cheats today. However, there are still some platforms where you can get a passive income with no worries. And Binance is one of the platforms which you can trust.
Most of the people know Binance as crypto trading platforms. But there is another side of it.
What is a passive income on Binance
First of all, you need to have an account on the Binance platform.
Then, go need to go to Finance -> Savings.
Savings is a key to passive income on Binance, and they can be flexible and locked.
The name tells for itself. You can subscribe and redeem flexible savings anytime. And you receive your interest from flexible saving every day. Binance offers different flexible products, i.e. tokens.
Savings can be subscribed with an auto-subscription; all your daily interest will be accumulated to the deposit. In a word, your deposit will increase daily.
On the other side, the locked savings have a fixed term. Usually, a min period of deposit is 7 days and max — 90 days.
There are not so many products for locked savings on Binance.
The main advantage of locked savings is that they have a higher interest rate than flexible savings.
How to get a passive income on Binance
To make a savings subscription, all you need is just to choose the product and then to click on the Subscribe bottom.
Then the Customize Products window will pop up. You need to choose the crypto, deposit period, lots amount, and then click on Confirm purchase bottom.
You can find all your savings in Wallet -> Savings Asset tab.
How much you can earn
Here is a stat of my flexible savings on Binance. The estimated value of my flexible savings is about $199.
As you can see, different cryptocurrencies have a different interest rate. Therefore, from different tokens, I get a different passive income. In 2 weeks of flexible savings, I received a passive income of $0.08.
Conclusion
Binance is not just a trading platform, and it is also a platform where you can put your crypto on deposit and get a passive income. You can set you tokens on a longer time and get a higher income, or you can use flexible savings and receive less interest.
Read also: How to Earn Money in HIVE
