Binance's Simple Earn flexible products are an easy and flexible way to earn rewards (interest) on your digital currencies that are not actively used for trading. They are part of Binance's comprehensive "Earn gateway", which aims to help users generate passive income from their digital assets.
Core concept:
Flexible products allow you to deposit your digital currencies and earn daily rewards, while maintaining great flexibility in withdrawing your funds. Unlike "locked products" that require you to lock your funds for a specific period (such as 7, 30, or 90 days) for higher returns, flexible products allow you to withdraw your assets almost anytime without restrictions.
How it works:
* Deposit: You deposit your digital currencies (such as USDT, BTC, ETH, BNB, and many others) into the Simple Earn flexible product.
* Earning rewards: Your currencies start earning rewards (interest) daily. These rewards are calculated based on the "Real-Time APR", which can change.
* Flexibility in withdrawals: You can redeem (withdraw) your assets whenever you want. This gives you high liquidity and allows you to respond to market opportunities or sudden financial needs.
Key features and benefits:
* Flexibility and liquidity: This is the most prominent feature. You can deposit and withdraw your money at any time, making it ideal for assets you may need unexpectedly.
* Daily passive income: You earn daily rewards that are added directly to your account, allowing you to see the continuous growth of your assets.
* Ease of use: Simple Earn is designed to be extremely user-friendly, even for beginners in digital currencies.
* Support for a wide range of currencies: Simple Earn flexible products support a large number of digital currencies, allowing you to earn rewards on diverse assets.
* Alternative to traditional savings: Provides an opportunity to earn higher returns on digital currencies compared to traditional savings accounts.
* Auto-Subscribe: You can enable the auto-subscribe option, which automatically converts any eligible currencies in your "Spot" wallet into Simple Earn flexible products to earn rewards.
* Use of pledged assets: In some cases, shared assets in Simple Earn Flexible Products can be used as collateral for flexible loans from Binance, while still earning rewards.
Examples of currencies supported by Simple Earn flexible products (prices and offers change constantly):
* USDT and FDUSD (stablecoins): These stablecoins often offer good interest rates in flexible products as they are less volatile.
* BTC and ETH (major currencies): You can also earn rewards on Bitcoin and Ethereum, although interest rates may be lower compared to stablecoins or locked products due to their higher market value and demand.
* BNB (Binance Coin): BNB often enjoys additional benefits within Earn products, such as enhanced rewards or access to Launchpool.
The difference between flexible products and locked products:
| Feature | Flexible products | | Locked products |
| Flexibility | Withdraw assets Lock assets for a specified period (7, at any time 30, 60, 90 days)
| Yield | Usually lower Usually higher
| Risks | Lower risk of loss Risk of liquidity loss liquidity during the lock period
| Use | Ideal for long-term assets that you may need
Overall, Simple Earn flexible products are a great way for beginners and those who prefer to maintain the liquidity of their assets to earn passive income on their digital currencies.
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