Binance Lending: Earn 15% interest on Binance Coin

That's it! The platform’s long-awaited service Binance has just been released, this Wednesday August 28.

In fact, Binance Lending, as its name suggests, is a cryptocurrency lending service. The principle is very simple.

Binance Lending is the ability to earn crypto while you sleep.

Yes, it’s always this idea that we have with passive income, you will tell me. That said, you must have a VTE to participate. Each round you will have to hurry.

How does it work?

First of all, you should know that Binance Lending works with three cryptocurrencies at the moment.

• The official token of the BNB platform (Binance Coin)
• Tether (USDT)
• Ethereum Classic (ETC and immense not ETH)

Interest rates vary from one crypto to another. By “storing” Binance Coin, you will then have 15% interest within a period of 14 days.

Admit it’s great!

That said, you have to hurry, first come first served. And, you will need to take a good look at the site to be able to start participating in binance lending.

Here is part of the FAQ that I translated for you here, if you have any additional questions about Binance Lending.

1. What do I need to be able to participate in Binance credit products?
   Users must have passed level 2 verification of their Binance account to participate.
2. What happens to my funds the day I sign up for a Binance credit product?
   On the day of subscription, Binance Lending will freeze the fund amount allocated to the crypto lending product, regardless of the amount of time between that day and the value date. This is to guarantee your participation in the product.
3. What happens to my funds on the value date?
   On the value date, frozen funds allocated to the loan product will be transferred to the product. You will see this deduction in your account.
4. What happens to my funds on the redemption date?
   On the redemption date, you will see both the principal amount and the accrued interest in your Binance account “balances”. This process will be automatic.
5. Am I guaranteed to earn interest on Binance loans even if crypto markets fall?
   Yes. The interest rate on each product is guaranteed.
6. How do you determine the total loan amount of each crypto aseet?
   We establish the total amount based on the margin trading demand.
7. Will Binance Lending continue to add more products and support tokens other than those currently available?
   Yes, Binance Lending will continually evaluate new coins/tokens to support as lending products. Products will be supported based on demand and provide the best value to Binance Lending users.

There you go, I hope you will jump at this opportunity to make your cryptocurrencies grow!

If you are interested in the subject, I also wrote a very interesting article:  The 4 best sites to generate interest by lending your bitcoins