Last week, Binance updated its flexible crypto savings options increasing the yields and interest rates that users can get.
Which coins can you choose to get these yields? How much time do your coins need to lock? In this article, you will discover more about this exclusive feature.
Save Crypto, Earn More
Binance has announced very high yields up to 10x on certain crypto assets in its latest product upgrade. Furthermore, those specific cryptocurrencies eligible for better yields are ADA, BTC, BUSD, ETH, and USDT.
Crypto savings plans offer a great way to hold and earn at the same time. Additionally, they are growing in popularity as interest rates in banks are close to zero or even negative. With high inflation rates in most countries, this means that fiat holdings are being devalued by the day.
Therefore, Binance offers a solution in its flexible savings plans which have new tiered APYs categories. Bitcoin, for example, had a previous APY of 0.5% but under the new structure, that has changed. Users can now earn 5%, 1%, or 0.1% depending on how much BTC they invest into the plans.
Earn up to 10X more with the #Binance Flexible Savings upgrade!
Subscribe now ➡️ https://t.co/XQl1xYOHq7 pic.twitter.com/s9o4Ds8KXo
— Binance (@binance) February 1, 2022
More about Binance Saving Options
Additionally, the new savings plans on Binance are structured so that smaller amounts earn more interest. Anything up to 0.01 BTC (around $438 at current prices) can earn a yield of 5%. Amounts from 0.01 BTC to 0.5 BTC will earn 1% and the lowest category is for those investing more than half a Bitcoin.
Also, Ethereum investments have different tiers and interest rates. Amounts up to 0.2 ETH (around $636) will earn the maximum interest of 2.4%. However, earnings drop to 0.1% for amounts over this.
The same applies to the other assets in the new system; BUSD, USDT, and ADA. The two stablecoins have the best yields with 7% available on investments up to 500 BUSD or 2,000 USDT.
Finally, the plans are subject to subscription availability and are flexible so users can access their crypto quickly if needed. Moreover, Binance offers a wide range of staking and yield generating plans for several other cryptocurrencies. The exchange also has a $1 billion SAFU treasury to cover hacks and losses.
BNB Price Outlook
At the time of writing this article, the price of BNB has made a marginal gain on the day of 2.4%. As a result, the token is trading at $423.66. Its marketcap is currently at $71.1 billion and has a 24-hour trading volume of $1.1 billion.
BNB has made 13.5% over the past week as crypto markets have rebounded. However, the number four crypto asset is trading down 39% from its May 10 all-time high of $686.
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