#BinanceSavings

Binance Savings, now known as Simple Earn, offers a way for Binance users to earn passive income on their crypto holdings. It functions similarly to a traditional savings account but for cryptocurrencies. Users can deposit their digital assets and earn interest over time.

There are typically two main types of savings products offered: Flexible Savings and Locked Savings. Flexible Savings allows users to deposit and withdraw their funds at any time while still earning interest, offering high liquidity. Locked Savings requires users to lock their funds for a predetermined period, such as 30, 60, or 90 days, and generally offers higher interest rates in return for this commitment. The interest earned is usually credited daily and directly to the user's Spot Wallet.

A key feature is the "Auto-Subscribe" option, which automatically reinvests the earned interest back into the savings plan, allowing for potential compounding of returns. Binance Savings provides a relatively low-risk way to earn interest on idle crypto assets compared to the volatility of trading. It's a user-friendly feature integrated within the Binance platform, making it accessible for both beginners and experienced crypto users to grow their holdings.