(upbeat music)
- Hey guys, what's up,
welcome to another video
episode of CoinSutra.
I'm your host Harsh Agrawal
and in this video,
I'm going to talk about
Binance Lending program.
And this is something very interesting.
And in case if you're first time
learning about Binance do check
out our review on Binance,
Binance is actually one of the biggest
cryptocurrency exchange in the world.
And it's just not only that
they are actually creating
a complete ecosystem of all other products
that you can think of, for example,
you can buy sell crypto if you like,
you can also lend crypto
and earn an interest.
It could be a fixed interest
or it could be a flexible interest.
We'll just talk about
that in a quick moment.
But before that, there are other things
that Binance is also doing
like staking is there.
You can also take loans from
Binance using your crypto
as a collateral and that is
something which is pretty new.
They also have a margin
trading and futures trading
which is becoming very popular.
If you are a future trader, you
can find the link to sign up
for future trading in the link below.
But for this video,
let's just focus on
Binance Lending feature.
And to use this feature
you can log into your Binance account
and then click on earn and lending.
Now what it does is if you have USDT
or BUSD or some other cryptocurrency,
you can actually earn a
fixed interest on them.
You can also earn variable interest
on them depending upon your time horizon.
So what really interesting
is there is an option
called Flexible Deposit.
So basically, you can deposit
a coin for any amount of days
and you can withdraw it at any time.
But and but if you want higher interest,
you can go for their fixed deposits
and you can see here let's say
if I want to deposit USDT
and if I do it for 90 days,
I can earn about 6.12% annualized return
and then for seven days
it's about 5.61% annualized return.
The flexible deposit also has this feature
called auto subscribe
so what it will do is they
will use the available balance
on your spot wallet to
purchase flexible deposit.
Now do remember that
you will start earning
the interest after one day
I really like the auto subscribe
feature it's very flexible.
Now let me show you how to
use the fixed deposit feature
so that you get in complete
idea of how it works
so let's what we will
do is we will actually
open a fixed deposit of USDT for 14 days.
Okay so 14 days is sold out,
30 days is sold out,
90 days is available and seven days
is available so we'll go for seven days.
Click on seven days click on subscribe.
So they have lot size
every lot size is 100 USDT
and individual max is about 1000 lots
so that means 100,000
USDT is what you can lend
and earn interest on.
I'm not sure if I have this much off.
So I don't have this
much of fund right now.
So we'll skip this.
But yeah, let me show you a
few things while we are here.
So you can always click
on earn and lending to see
what is there, then you
can click on products,
you can check the flexible deposit
or you can also check for a fixed deposit
display available only
so that gives us an idea
of which one of them are available.
You can click on assets to check amount
that you have already lended.
So in this case, like
I've already lended fixed
in the fixed deposit ever lended BUSD
that's basically a stable
coin offered by Binance.
And so far it has earned
an interest of $2 and yeah,
so pretty much this one is
done for duration of 90 days
with an annual interest of 8.20%
which is pretty good in my opinion.
There are other platform
like Nexo which offers 8%
there is Block five they also
started offering good ROI
but overall Binance has a
lot of trust among users
because they are unicorn
of cryptocurrency industry
and they have a lot of features
and if you're looking for a single place
where you can do a lot of stuff
like you know buy sell
cryptocurrency, trade future,
or do future trading or margin trading,
and at the same time use the
lending and borrow feature.
Well Binance is the perfect place for you.
If you have any question around Binance,
feel free to ask me in
the comment section below.
I leave the link all the
links in the description
so that you can go ahead
and read all about it.
And do check out CoinSutra
for more cryptocurrency related content,
and I will see you in the next video.
Bye bye this is Harsh.
(upbeat music)
