There are many ways to make money on Binance : you can just buy cryptocurrency and leave it there so that it grows and sell such currency at the right time; you can use margin trading;
Also, there is an interesting earning opportunity, namely the contribution to Binance Earn. There are many different ways to make money here – staking certain cryptocurrencies, making deposits, etc.
Binance Earn – 100% ways to earn cryptocurrency on Binance
Deposits are on the menu. We direct to finance, then to Binance earn and go to the desired tab. There are two types of deposits: floating rate deposit and fixed rate deposit. You probably know what deposits are, because they are in every bank. Most likely, many of you have used it. This is when you lend your funds for a certain period of time to the possession of the bank, they use them for their needs, perhaps they take part of this money and give it to someone on credit. In gratitude for sharing your money, they pay a certain percentage. Everyone knows that banks have very low deposit rates.
At the same time, for example, you have Bitcoin, BUSD, BTT, etc. You can put this money in a deposit with a floating rate. Does the rate change all the time? What are the nuances? You can transfer your floating rate assets here, but you must understand that the rate changes along with the percentage of the estimated return and dynamics. Payments start the next day. This money will come daily to the spot wallet. Putting money here, you can pick it up at any time and at the same time, every day a certain amount will be paid. The bottom line is that if the rate changes greatly, it is possible to go at a loss.
Fixed rate deposits . In this case, you block your funds for a certain time. Huge annual percentages can be viewed on the website. You bet, for example, bitcoin for a period of 90 days. That is, you block your bitcoin at 7%. A certain percentage is taken into account and it is specifically paid. You can withdraw this money at any time, but if there is no deadline for the execution of your deposit, then you will not receive your interest. The opportunity to receive the interest that has been accumulated disappears, but you do not receive any sanctions and restrictions that a part of the deposit or commission will be taken from you. The most you will lose on the course.
Why do some cryptocurrencies have high interest rates? The higher the risk, the more interest you are willing to pay.