Put Your HODLed Crypto to Work With Binance Simple Earn
Users can earn daily rewards on their idle crypto assets by depositing them on either Flexible or Locked terms via Simple Earn.
From helping hedge against inflation to diversifying your portfolio, Binance Simple Earn offers users various ways to grow their assets.
Put your idle assets to work with Simple Earn today!
Binance Simple Earn is a one-stop platform that integrates a variety of subscription-based interest-bearing products suitable for both crypto newbies and veterans.
Got funds gathering dust in your Binance Spot Wallet? Why not make your assets work harder for you by depositing them in either Flexible or Locked Simple Earn products?
Keep on reading to discover the three main benefits of using Simple Earn to help grow your crypto holdings.
Hedge Against Inflation
Fiat currencies are prone to inflation. With the rising cost of daily necessities throughout the world over the past couple of years, many have begun to consider crypto as a potential hedge against inflation – even despite the crypto market’s volatility. Digital assets, the argument goes, can be less malleable to the effects of changing interest rates and intensifying money printing.
To further offset the impact of rising cost of living, users who HODL onto their crypto can make their assets work even harder by generating additional yield on Binance Simple Earn. They can benefit from daily reward distributions while having the flexibility and freedom to redeem these funds at any time.
Earn Compound Returns With Auto-Subscribe on Simple Earn Flexible Products
Compound returns is a fundamental financial concept that describes the mechanism of continuously re-investing the accumulated returns on top of the initial amount invested, or principal. Imagine you’ve deposited $100 in a regular savings account with a 30% annual percentage rate (APR). Most banks will compound your interest monthly or quarterly, adding the interest generated during these periods to your original deposit.
With the Auto-Subscription feature on Binance Simple Earn, we’ll help you automatically subscribe the daily rewards you receive back into the Flexible products every day.
Let’s look at the table below to draw a comparison between annual and daily compounding in a scenario where the principal is $100 and APR is 30%:
A Perfect Match For Your Diversified Portfolio
In finance, diversification is an asset management strategy that entails allocating capital across various financial instruments and asset classes. The main goal of this strategy is to reduce overall risks that may come from having most of one’s eggs in one basket.
Binance Simple Earn offers a way for users to allocate part of their digital asset portfolio into an easy-to-use tool for slow and steady growth. This can potentially give users a peace of mind as they engage in other investment strategies with the rest of their portfolio. Additionally, users can subscribe their digital assets to Flexible Products and grow their assets by earning daily rewards. Supporting over 3000 tokens, Binance Simple Earn offers users a multitude of options for both flexible-term and locked-term subscriptions. What's more, deposited assets are fully protected by Binance.
Learn About Simple Earn Products
Binance Simple Earn allows users to choose between Flexible and Locked products to deposit and grow their digital assets.
With Flexible products, subscribers can redeem their assets any time while earning daily rewards. In other words, your asset remains at your disposal at any time.
While Locked products provide higher APRs, subscribers agree to commit their funds for a fixed period of time: 30, 60, 90 or 120 days. Users can still redeem their locked assets at any time, but they’ll have to forfeit the accumulated rewards if they do so.
Thanks to this Binance Simple Earn feature, compounding returns has never been easier. With Auto-Subscribe on, any earned rewards will be transferred into the designated Flexible Product on a daily basis. Meanwhile, Locked Product users can sit back and continue earning daily rewards without having to keep track of the locked term expiration dates.
How to Get Started
Ready to put your HODLed crypto to work with Simple Earn? Simply register for a Binance account and download the Binance app. Once you’ve completed the identity verification process, head on to Binance Simple Earn to deposit your assets and start earning daily rewards.
To learn more about Simple Earn, check out these articles below:
(Support) Introduction to Binance Simple Earn