This time, I will talk about how to directly borrow BNB on Binance for on-chain launches.
This mainly considers that most of everyone's assets are kept on exchanges. If you withdraw these assets for on-chain staking, it would be very troublesome, so it is much more convenient to do it directly on Binance, and the hourly interest rate will also be displayed directly. Without further ado, let's get straight to the tutorial.
First, brothers need to prepare the assets to be collateralized. Here, I will use 200 USDT of Parti as a demonstration. First, go to the margin trading section.
Transfer the prepared assets to the margin account.
Then click on the borrow/repay button in the upper right corner.
Here, just select BNB as the asset to borrow, and you can see the amount of BNB you can borrow and the hourly interest rate.
But you need to pay attention here; it's not that you can transfer out as much as you borrow. For example, in the image, you can borrow 0.7 BNB, which is clearly worth more than my asset of 200 USDT of Parti. Does that mean I can also transfer out 200 USDT of BNB? Obviously not. This is similar to borrowing assets in financial management, so I won't explain it further.
So how much can I actually borrow and transfer? I tested with 200 USDT of Parti and could only borrow 100 USDT of BNB. This 100 USDT can be transferred to your spot wallet and then withdrawn on-chain. If you borrow too much, the amount you can withdraw will decrease.
After borrowing BNB, you just need to transfer the BNB from the margin account to the spot wallet. You can return the BNB after the on-chain launch is complete.
Here, I will summarize the pros and cons of borrowing BNB on Binance.
Advantages: Convenient, no complicated operations are needed, and no need to withdraw multiple times. The on-chain staking fees are lower in cost. Although the interest rate may be higher, since you only need to borrow for two or three hours, the interest rate and network fees are negligible.
Disadvantages: The amount borrowed is small, and you can only borrow half. This means that if you want to borrow 3 BNB, you need approximately 3600 USDT in collateral, which has a high asset occupation rate.
However, I usually borrow directly on Binance because I find it troublesome.
Finally, I wish all the brothers to get rich 🥳🥳🥳 I hope the brothers can like my pinned article pinned article🔝
Thank you for your support, brothers.