Get Started with Binance Simple Earn Locked Products

Introduction to Locked Products

How to Use Locked Products (Web)

How to Use Locked Products (App)

Introduction to Locked Products

Binance Simple Earn Locked Products provide higher rewards in exchange for your assets being committed for fixed terms with predetermined redemption dates. You can still choose to redeem your full balance at any time before the redemption date, but you will forgo any rewards you have received or accrued up to that point.

Subscription and Redemption

Subscriptions and redemptions for Simple Earn products are open daily between 00:10 to 23:50 (UTC+0). Subscriptions are immediate, your assets will be transferred from your Spot Wallet into the product of your choice upon confirmation.

Each Locked Product has its own product and individual subscription limits. Once the limits are reached, subscriptions will no longer be processed, including Auto-Subscribe requests. These limits are subject to change at any time.

Locked Products will be automatically redeemed in full on the redemption date. Your assets will be subscribed to the Flexible Product of the same cryptocurrency in your Earn Wallet, along with the rewards accrued for the last day. Assets subscribed to Flexible Products will generate rewards every minute, and you can redeem them anytime. For more information, please refer to the detailed guide Get Started with Binance Simple Earn Flexible Products.

In case of early redemption, you will receive the full balance of your locked assets, minus any rewards you have received during the term, into your Spot Wallet within the next 72 hours.

In the event of extreme market volatility, network delays, or when there is an unusually large number of redemption requests, your redemptions might be delayed.

Rebates on Early Redemption

Typically, when you redeem your Locked Products before expiry, any distributed rewards will be deducted from your redemption proceeds. Binance may, at its absolute discretion, implement a 5% rebate on the distributed rewards for early redemptions.

The 5% rebate (which would otherwise be fully forfeited) will be used to create a 90-day locked position, provided it meets the required minimum staking requirement:

You will receive rewards on a daily basis and can redeem the principal amount (i.e., 5% of the distributed rewards from the original subscription) from the newly created 90-day locked position once it expires.
Early redemption and Auto-Subscribe features will not be available for this locked position.

What is Auto-Subscribe and how does it work?

The Auto-Subscribe function helps you automatically renew your existing Locked Product position into a new locked term of the same duration upon expiry. Renewals will only consist of the original amount of your initial subscription, while rewards will continue to be sent to your Spot Wallet.

If the available quota for any particular Locked Product is filled, your position may not be renewed even if Auto-Subscribe is enabled. Once your position expires, your assets will be subscribed to the Flexible Product of the same cryptocurrency in your Earn Wallet. Auto-Subscribe is only available for selected Locked Products and is subject to change any time.

You can enable Auto-Subscribe for Locked Products on the subscription pop-up or from your Earn Wallet. Simply toggle on the [Auto-Subscribe] button next to the product to enable the function.

Rewards for the new term will start accruing on the renewal day, and distributed to your Spot Wallet from the following day onwards.
You can disable Auto-Subscribe in your Earn Wallet to stop any subsequent subscriptions at any time before the end of the locked period. If disabled, your assets will be automatically transferred to the corresponding Flexible Products upon expiry.

How is APR calculated and distributed for Locked Products

Rewards = Deposited Assets * APR/365 (rounded down to 8 decimal places)

Please note that APR is subject to change daily. The estimated rewards displayed at the beginning of your subscription may differ from the actual rewards generated.

Once you subscribe, your assets will start accruing rewards at 00:00 (UTC+0) the next day. After the first full day of accruing rewards, your first distribution will arrive at your Spot Wallet on the following day. You’ll not receive rewards on the day of the subscription. Rewards are calculated and distributed to your Spot Wallet daily between 00:00 and 08:00 (UTC+0). However, due to network delays, system calculations, and other unforeseeable reasons, reward distributions might be delayed.

For certain Locked Products, the rewards distributed may be in different cryptocurrencies from the subscribed assets. For such cases, rewards will only be distributed with your subscribed assets upon the expiry of the fixed-term product.

For more information about Simple Earn, please refer to:

Disclaimer:

This document may have been translated and published in different languages. In the event of any inconsistency, misstatements, omissions, or errors appearing in any translated version, the English version shall prevail.

1. How to subscribe to Simple Earn Locked Products

1. Log in to your Binance account and go to [Earn] - [Simple Earn].

2. Find the token you’d like to subscribe to using the search box or by clicking [Expand all Simple Earn Products].

Select a locked term next to the coin and click [Subscribe].

3. You will see a subscription window pop-up. Select the locked term and enter the subscription amount. You can also enable the [Auto-Subscribe] function here. Check the subscription summary on the right and click [Confirm].

Duration (Days): Choose between various locked terms (subscription days)
Subscription Amount: The amount of tokens you want to subscribe with
Amount limits
- Minimum: The minimum amount of tokens you need to subscribe
- Available quota: The maximum amount of tokens you can subscribe to this product, takes into account your existing subscriptions
Subscription Date: The date and time of subscription
Value Date: The date and time your assets start to accrue rewards
Interest End Date: The date and time the locked term ends
Flexible Products/BNB Vault will start automatically: The date and time your assets will be redeemed and subscribed to the Flexible Product of the same cryptocurrency in your Earn Wallet (or BNB Vault), if Auto-Subscribe is not enabled.
Next Subscription Date: The date and time your assets will be resubscribed to the same Locked Product, if Auto-Subscribe is enabled.
Est. APR: The estimated APR, subject to change
Est. Interest: The estimated daily rewards, subject to change

4. A confirmation message will appear with the details of your subscription. Your assets are now transferred from your Spot Wallet into the Simple Earn Locked Product you've selected. You can click [View Holding] to manage your subscriptions in the Earn Wallet.

2. How to redeem your Locked Products

1. Log in to your Binance account and go to [Earn] - [Simple Earn]. Click [Wallet] to access your Earn Wallet. Here, you can manage your subscriptions, redemptions, and enable/disable the Auto-Subscribe function.

2. Click [Redeem] next to the asset you wish to redeem.

3. You'll see a redemption pop-up window showing the early redemption amount you'll receive and the expected redemption date and time. Click [Redeem earlier] to continue.

4. A confirmation message will appear with the details of your redemption. You'll see an estimated time for your assets to be returned to your Spot Wallet.

3. How to view my Locked Product history

1. Log in to your Binance account and go to [Earn] - [Simple Earn]. Click [History].

2. Go to the [Locked] tab.

3. You can filter your transaction history by token type, transaction type (such as subscription, redemption, and rewards), and dates. Click [Search].

1. How to subscribe to Simple Earn Locked Products?

1. Log in to your Binance account and go to [Earn] - [Simple Earn].

2. Use the search bar or filter function to find the token you’d like to subscribe to. Select one of the available locked terms and tap [Subscribe].

3. Enter the amount you want to subscribe. You can also enable or disable the [Auto-Subscribe] function if you wish. Check the subscription summary and tap [Confirm].

4. A confirmation message will appear with details of your subscription.

Your assets are now transferred from your Spot Wallet into the Simple Earn Locked Product you’ve selected. You can tap [Go To Wallet] to manage your subscriptions in the Earn Wallet.

2. How to redeem your Locked Products

1. Log in to your Binance account and go to [Wallet] - [Earn] to access your Earn Wallet.

2. Select the [Asset] or [Product] tabs to go to your Locked Product holdings.

3. Details of your Locked Product will be shown, together with options to enable or disable [Auto-Subscribe] and [Redeem].

4. Tap [Redeem] and [Confirm].

5. A confirmation message will appear with details of your redemption. You’ll also see the estimated time for when your assets will be returned to your Spot Wallet.