MAYBE you DON'T KNOW DEEPLY ABOUT THAT 🫵
👉Simple Earn on Binance is a feature that allows users to earn interest on their cryptocurrencies by depositing them into a savings account-like product. Here's how it works in simple terms:
1. *Deposit*: You deposit your cryptocurrencies (like Bitcoin, Ethereum, etc.) into Binance's Simple Earn.
2. *Earn Interest*: Binance uses your deposited assets to provide liquidity or lending services and pays you interest on your holdings.
3. *Flexible or Locked*: You can choose between flexible or locked products. Flexible products allow you to withdraw your assets at any time, while locked products offer higher interest rates but require you to lock your assets for a specified period.
4. *Interest Distribution*: Interest is distributed to your account at regular intervals, depending on the product.
Simple Earn is designed to be user-friendly and accessible, making it a good option for those looking to earn passive income on their crypto holdings without complex trading.