Binance Launched A New Product To Diversify Its Portfolio
When cryptocurrencies were struggling to gain a name in the market, no one would have thought of their journey. From getting to masses to an exchange market, it has faced a lot of heat. However, now there is a new chapter added in it. Binance, the popular cryptocurrency exchange has launched a new product called ‘Binance lending’ in order to diversify its service portfolio.
It has been announced on 26th August. However not every coin on the site will be available for lending. Right now there are only three coins which are eligible for it. They are BNB (Binance Coin), ETC (Ethereum Classic) and Tether (USDT). You can do a Binance Login to check if it is working in your region or not.
What interest will be there?
The Services are going to be available in due time. However, there is going to be a fourteen-day time frame for loaning items. If we talk about the interest rate, BNB could return up to 15% return, while ETC,USDT could give to 7 percent and 10 percent annually.
Binance has already different products on the list. There is cryptocurrency exchange, trading, Online academy to teach new users. However, this product is quite fresh on the internet and in the world of cryptos. This move will offer a new initiative for Digital currencies which often face backlash on the internet for Being volatile and unpredictable.
It has begun with three coins, But in the future it will grow. It has now given a chance to users to improve their funds other from trading on cryptocurrency exchange. You may be wondering what is the fourteen-day time period. Well, let's say you want to lend out some coins. Once you do it, you can not pull it back. There has to be a time period of 14 days. However you as a user need to be careful because it does not give hackers a more to get your Binance login account info. We still do not know how the market will react to this, but it's a unique thing in the crypto market.
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It has been announced on 26th August. However not every coin on the site will be available for lending. Right now there are only three coins which are eligible for it. They are BNB (Binance Coin), ETC (Ethereum Classic) and Tether (USDT). You can do a Binance Login to check if it is working in your region or not.
What interest will be there?
The Services are going to be available in due time. However, there is going to be a fourteen-day time frame for loaning items. If we talk about the interest rate, BNB could return up to 15% return, while ETC,USDT could give to 7 percent and 10 percent annually.
Binance has already different products on the list. There is cryptocurrency exchange, trading, Online academy to teach new users. However, this product is quite fresh on the internet and in the world of cryptos. This move will offer a new initiative for Digital currencies which often face backlash on the internet for Being volatile and unpredictable.
It has begun with three coins, But in the future it will grow. It has now given a chance to users to improve their funds other from trading on cryptocurrency exchange. You may be wondering what is the fourteen-day time period. Well, let's say you want to lend out some coins. Once you do it, you can not pull it back. There has to be a time period of 14 days. However you as a user need to be careful because it does not give hackers a more to get your Binance login account info. We still do not know how the market will react to this, but it's a unique thing in the crypto market.
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