Binance Lending is a service that allows you to lend your crypto assets to earn interest. It is a risk-free way to earn interest on your idle crypto.
You can use Binance Lending to:
1. Deposit your crypto assets into a lending pool.
2. Earn interest on your deposited assets.
3. Withdraw your deposited assets plus the interest earned, at any time.
Here’s how it works:
1. On the Binance website, navigate to the “Lending” page and select the asset you wish to deposit into the lending pool. Enter the amount of the asset you wish to deposit and click “Deposit now”.
3. Your asset will be deposited into the lending pool and start earning interest immediately. The interest is paid daily and you can withdraw your asset plus the interest earned at any time.
The annualized interest rates for each asset are as follows:
NOTE: WARNING: Binance lending is a high-risk activity and should only be attempted by experienced traders/investors. You should understand the risks associated with using this service before attempting to use it, as there is always a potential for loss. Binance does not guarantee returns or provide any form of insurance against losses. You should also be aware that the interest rate is variable and can change quickly, so you could potentially lose money if you are not able to repay your loan when due. Furthermore, Binance reserves the right to liquidate your collateral at any time without prior notice if your loan defaults, so it is important that you understand how this works before making any decisions.
BTC: 15% ETH: 10% BNB: 8% USDT: 5% ETC: 5% XRP: 5%
Minimum loan amount: 1 BTC or equivalent in other assets (e.g., 50 ETH)
Loan term: 28 days
Interest rate: Variable, depending on market conditions
Interest payout: Daily, in the form of the original loan asset
Collateral requirements: 150% of loan value in the form of BNB
Insurance fund: 2% of total loan value held in reserve to cover unforeseen circumstances such as flash crashes.
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