In short, Binance allows you to earn interest when you deposit some of your cryptocurrency tokens on the platform. There are two main ways to do this - on a flexible basis or by blocking digital assets for a fixed period of time. Naturally, by choosing the latter, you will receive a higher interest rate. This is comparable to a bank deposit with a fixed interest rate or a savings bond. That is, you will not be able to redeem your crypto holdings before the expiration of the corresponding period.
However, if you choose the flexible scheme, it will be more in line with a regular savings account. In other words, you can withdraw your digital funds at any time. As long as your crypto assets are held in a Binance Flexible Savings Account, you will receive interest.
Flexible savings account
Now, let's dive deeper into how each interest earning opportunity works on the Binance platform, starting with flexible savings accounts. As noted above, this allows you to deposit funds on Binance and receive interest as long as you hold digital assets there. You can withdraw your cryptocurrency at any time - this means that the investments are 100% liquid.
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