What is Simple Earn?
Simple Earn allows you to earn daily rewards by depositing your digital assets for flexible or locked terms. You can subscribe or redeem at almost any time, so you can retain flexibility and liquidity over your assets while earning daily rewards. For more details, please refer to the Terms & Conditions for each product.
Locked Products provide higher rewards in exchange for your assets being committed for fixed terms with predetermined redemption dates. You can still choose to redeem your full balance at any time before the redemption date, but you will forgo any rewards you have accrued or received up to that point.
What is the difference between the previous Binance Savings and Binance Staking platforms and the new Simple Earn platform?
Flexible Savings, Locked Savings, and Locked Staking have been replaced by Simple Earn. Simple Earn simplifies and enhances your subscription experience by integrating various options into a one-stop platform for you to earn daily rewards.
You can easily subscribe to flexible-term and locked-term products on a single platform. Rewards distribution, subscription, and redemption processes are now more streamlined and easier to use. For more details on how the different products work, please refer to:
Please note that your existing Flexible Savings and Locked Staking positions have been automatically transitioned into Simple Earn Flexible and Locked Products respectively on 22 September 2022. You can manage all your existing positions from your Earn Wallet.
How is Binance able to pay users daily rewards?
Daily rewards are distributed from Binance’s own funds and are determined based on the assessment and evaluation of prevailing market conditions.
The assets you deposit in Simple Earn are used for a variety of purposes, including by other business units within Binance.
Assets may be used for on-chain staking in a tightly controlled manner. Binance may stake through official staking pools, or operate validators and nodes to participate in Proof-of-Stake (POS) network staking. The staking pool selection is determined via stringent risk assessment protocols. Validators and nodes operated by Binance are set up with security as the utmost priority.
Assets may also be used by other business units in Binance for operational purposes. However, business units must adhere to stringent policies and explicit limitations around utilizing user assets deposited in Simple Earn. This may include assets that are loaned to other Binance users (e.g. Margin and Crypto Loan products) and other operational demands.
Binance may also run promotional campaigns from time to time that are sponsored by partnered projects in order to attract more users onto our platform. Thanks to our partners, Binance Earn may run short-term Simple Earn product offerings with higher APRs to benefit users.
How does Binance determine APR for Simple Earn?
Simple Earn APR rewards are determined with various carefully designed factors to ensure that rewards paid to Simple Earn users are sustainable and competitive. Moreover, the APR offered to Simple Earn users is discretionary and doesn't reflect any indication of profitability within Binance's various operations.
For example, Binance may have regard to its competitor's offerings in deciding on appropriate levels of APR. Advertised rewards are not actual or predicted returns/yield in any fiat currency.
Binance may also maintain a promotional rewards reserve to run promotional campaigns and introduce short-term promotional APR offerings on selected tokens from time to time.
Simple Earn APR rewards offered to users are either Real-Time APR and Bonus Tiered APR rewards for Flexible Products or Locked Product APR for Locked Products.
Please refer to the Flexible and Locked Products FAQ to learn more about how these rewards are calculated.
Disclaimer:
This document may have been translated and published in different languages. In the event of any inconsistency, misstatements, omissions, or errors appearing in any translated version, the English version shall prevail.
FAQs
Binance Earn includes options like flexible savings, which allow for instant deposits and withdrawals, and locked savings, which typically offer higher interest rates in exchange for locking up funds for a specified time period. Getting started with Binance Earn is quick and simple.
Is simple earn in Binance legit? ›
Main Takeaways. Binance Earn is a simple and secure platform that helps you grow your crypto holdings easily. Among its suite of products and services, the Simple Earn and Dual Investment subscriptions allow you to receive rewards on your holdings.
How much can I earn from Binance Simple Earn? ›
Binance Simple Earn works by allowing users to lend their cryptocurrency to other users on the Binance platform who require it for margin trading. In return, users receive interest on their holdings. The interest rates vary depending on the investment option chosen and can range from 1% to 20% per annum.
How to make $100 a day on Binance? ›
To make $100 a day, you would need a large and active referral network. Binance occasionally offers educational campaigns where users can learn about specific cryptocurrencies and earn small amounts of those cryptocurrencies as a reward. While the earnings are not typically substantial, they can accumulate over time.
What are the risks of using Binance earn? ›
One of the main risks is the volatility of the cryptocurrency market. While Binance has security measures in place, the value of your investments can still fluctuate based on market conditions.
How to withdraw money from Binance Earn? ›
▪︎Go to Earn - Simple Earn. ▪︎Click on the Wallet for the asset you want to withdraw. ▪︎Click Redeem next to the amount you want to withdraw. ▪︎Confirm the withdrawal details and your funds will be available in your Spot Wallet shortly.
How to make 10$ daily on Binance? ›
Focus on volatile currency pairs with daily fluctuations of 10-20%. These pairs offer the best opportunities for quick wins. For example, if you invest $100 and follow a currency pair that increases by 10%, you will earn $10. Repeat this process daily for consistent profits of $10.
Is Binance Earn worth it for beginners? ›
Binance Earn is a great place for users to receive passive income from their crypto holdings. It offers a diverse range of products to meet the needs of different investors, from beginners to experienced users.
Do people really earn from Binance? ›
Trading: This is the most common way to earn money on Binance, and it involves buying and selling cryptocurrencies to profit from changes in their prices. Trading can be risky, but it can also be very profitable if done correctly. Staking: Staking is a way to earn passive income with your cryptocurrencies.
Is Binance safe or not? ›
Is Binance Exchange Safe? Binance is often considered one of the safest exchanges in the world if you consider the level of security. If the exchange crashed or a hacker stole assets or funds, the SAFU reimburses its users from the $1 billion fund. Not every platform has an insurance fund in place.
Earn daily rewards: Regardless of your chosen method, you'll automatically start earning interest daily, calculated on the average daily balance of your deposited assets. Rewards are typically distributed in the same cryptocurrency you deposited.
Can you make money with Binance without trading? ›
Binance Earn: Binance offers various staking and savings options where you can earn interest on your cryptocurrency holdings. You can participate in these programs without any initial investment and earn passive income.
How to use Binance for beginners? ›
Learn about blockchain, crypto and other educational topics.
- Step 1 - Set up your Account on Binance.
- Step 2 - Buy Crypto.
- Step 3 - Learn more about Binance Products.
- Step 4 - Additional Learnings.
Binance Pay transactions are usually confirmed instantly. What are the advantages of using Binance Pay? Binance Pay is a simple, borderless, and secure way to send and receive cryptocurrencies from your mobile devices. You can send crypto to friends and family via email, phone number, Binance ID (UID), or Pay ID.
How to earn free money with Binance? ›
Participate in Airdrops and Giveaways: Occasionally, Binance hosts airdrops and giveaways, providing users with opportunities to earn free tokens or cryptocurrencies. Keep an eye on their official announcements, social media channels, and community forums to stay updated on these events.
Should I use Binance Earn? ›
Binance Earn is generally considered secure, benefitting from the security infrastructure of the larger Binance platform. However, like any investment or financial service, it's not entirely without risk. Cryptocurrency markets can be volatile, and the various products come with their own sets of risks.
What is the starting bonus for Binance? ›
Sign up to get 100 USD worth of welcome rewards as a Binance Explorer!
Is it possible to earn money from Binance? ›
👉#Trading : This is the most common way to earn money on Binance, and it involves buying and selling cryptocurrencies to profit from changes in their prices. Trading can be risky, but it can also be very profitable if done correctly. 👉Staking: Staking is a way to earn passive income with your cryptocurrencies.
How to redeem from Binance Earn? ›
Simply go to [Wallets] - [Earn] and tap on the product you wish to redeem. Tap [Redeem] and enter the redemption amount, select [Fast Redemption] or [Standard Redemption], then check the box next to the service agreement and tap [Confirm].
