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Binance Margin: Get a One-Hour Interest Fee Waiver When Borrowing Selected Cryptocurrencies! (2023-12-04)

Binance Margin: Get a One-Hour Interest Fee Waiver When Borrowing Selected Cryptocurrencies! (2023-12-04)

2023-12-04 09:00

This is a general announcement. This announcement is not intended for users in regions where products and services referred to here are not available.

Fellow Binancians,

Binance Margin is extending a new promotion for BTC, DOGE, ETH, GALA, GMT, LINK, MATIC, ORDI, SEI, SOL, TIA and XRP at 2023-12-04 09:00 (UTC).

Promotion Period: 2023-12-04 09:00 (UTC) to 2023-12-18 09:00 (UTC)

During the Promotion Period, all users who borrow any of these eligible cryptocurrencies on Binance Margin, will automatically receive a one-hour interest fee waiver.

Example:

  • User A and User B have each borrowed 10 BTC at 2023-12-04 09:20 (UTC). Both User A and User B then complete repayment on the same day at 10:15 (UTC) and 09:55 (UTC) respectively.¬†

  • Given that interest on Binance Margin accrues at the start of every hour (e.g., at 09:00, 10:00, etc.), User A and User B should be charged for two hours and one hour of interest respectively under standard circumstances (i.e., outside of the Promotion Period).

  • Assuming that the hourly interest rate for borrowing BTC is 0.001%, User A will be charged an interest of [0.001% * 10 BTC * (2 - 1) hours] = 0.0001 BTC, since users will automatically receive a one-hour interest fee waiver during the Promotion Period.¬†

  • On the other hand, since User B has completed repayment within the first hour of borrowing, there is no interest charged. The interest calculation is as follows: [0.001% * 10 BTC * (1 - 1) hours] = 0 BTC. ¬†

For more information on Binance Margin’s dynamic interest rate system, please refer to the FAQ.

Guides & Related Information:

Terms & Conditions:

  • Please refer to Margin Data for a list of the most updated marginable assets and further information on specific limits, collateral ratio and rates.

  • Binance reserves the right to disqualify trades that are deemed to be wash trades, illegal bulk account registrations, self-dealing, or display signs of market manipulation, etc.

  • Binance reserves the right to determine and/or amend or vary these Terms & Conditions, its eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done if it is justified due to important reasons, including but not limited to:

    • Changes in applicable regulations or policies;

    • Obligations arising out of law or decisions issued by common courts or public administration;

    • Anti-money laundering or combating financing terrorism rules;

    • Technical issues beyond our control;

    • Necessity to protect users from potential losses;

    • Necessity to protect Binance from the loss of reputation;

    • Extraordinary events or circumstances beyond our control (force majeure).

  • Where any discrepancy arises between the translated versions and the original English version, the former version shall prevail.

Thanks for your support!

Binance Team

2023-12-04

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

Disclaimer and Risk Warning: Digital asset prices are subject to high market risk and price volatility. The information provided does not constitute, in any way, a solicitation or recommendation or inducement to buy or sell the products. The value of your investment may go down or up, and you may not get back the amount invested. Comments and analysis do not constitute a commitment or guarantee on the part of Binance. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. This product may not be available in certain countries and to certain users. This content is not intended for users/countries to which prohibitions/restrictions apply. For more information, see our Terms of Use and Risk Warning. To learn more about how to protect yourself, visit our Responsible Trading page.