Productive Couch Potato Tutorial: Crypto Works Hard, Your Bedside Chill!
As a trader who uses the Binance app, many of us still haven’t utilized the Binance Earn feature to gain profits. Binance provides this feature to let our assets earn returns even when we’re not trading. This concept is what we can call “productive couch potatoes.” We can relax, play games, watch movies, or even sleep, while our crypto assets keep working and generating profits through the Binance Earn feature.
Spot Wallet Is Not the Best Place to Rest Coins
Storing your valuable assets like USDT, Bitcoin, or BNB only in a Spot wallet/Spot Wallet is like putting cash under your mattress. It may look safe, but its value won’t grow. The Binance Earn feature is a hidden gem in the Binance app. Therefore, as smart and productive resters, you should know how to choose the right Binance Earn product based on your needs:
1. Flexible Resting Type
For those who need flexibility, Simple Earn Flexible can be a good choice. This product is suitable for people who want to store stablecoins like USDT while still having access to their funds. You can withdraw the funds when needed, making it also a good option for saving money that you plan to use to buy assets when prices drop. The Auto-Subscribe feature can also help because the rewards you earn can be reallocated, so the compounding process runs automatically. The downside is that the flexible product’s APR is usually lower, and its value can change depending on market conditions.
2. Flexible Holder Type
Meanwhile, for investors who plan to hold assets like BTC, ETH, or SOL long term, the Locked product may be more attractive. Returns are usually higher because the assets must be locked for a certain period. However, there are consequences. If you withdraw funds before the time, any rewards you’ve already earned may be forfeited, and the payout process is also not always instant. So, this product should be used for assets that you truly won’t need in the near future.
3. BNB Ecosystem Lover Resting Type
For BNB holders, there’s another option: BNB Vault. This feature is appealing because in addition to earning rewards from BNB, users can also participate in receiving tokens from the ongoing Launchpool project(s). The process is also more practical since you don’t have to register for each project manually. However, when there is no Launchpool running, the base returns can be lower than BNB that’s locked.
4. Pro Resting Type
For users who already understand the risks, Dual Investment offers the potential for higher returns. This product allows users to earn rewards while waiting for a certain price to buy or sell an asset. While it sounds appealing, the risks are also much greater because funds cannot be withdrawn before the maturity date. In addition, the final outcome may lead us to buy or sell the asset at a less favorable price if the market moves too far.
Binance Earn Tutorial:
1. Open Binance on your phone, tap the 'Earn' icon.
2. Find the coin you have (e.g., USDT).
3. Choose the Flexible or Locked product.
4. Enter the amount.
5. Must-Do Tips: Enable 'Auto-Subscribe' so your coins automatically rotate every day.
6. Confirm your conditions and click 'Confirm'.