Binance (BNB) has widened its investment opportunities for crypto enthusiasts who do not want to use the traditional method of trading. Crypto investors can now earn Binance interest on the official Binance blockchain or other crypto savings platforms instead of keeping their digital coins idle.
However, earning interest on crypto is not something new and has been rolled out to other cryptocurrencies as well. But stablecoins including Binance fetch the best annual percentage yield. So, if you are looking forward to earning BNB interest, then it is time to know where to put your BNB savings.
Before we take you through the best crypto savings platform with a BNB earn interest option, let’s look at some basics of BNB savings.
How to Earn Binance Interest
Earning Binance interest is an interesting way to make income passively. It is a form of investment where you need to first buy a Binance Coin and then deposit it in a crypto savings account of your choice. The interest rates range from as low as 1% to as high as 15% APY. These platforms also entice investors with additional benefits such as bonuses.
There are two types of savings options in most crypto savings accounts for Binance. The first one is the flexible basis, which is the best option for many people. With this BNB savings option, investors have full control of their savings; hence, they can withdraw their BNB savings at any time, which is very crucial. Also, they can top up their savings as they want as well as trade.
On the other hand, there is a locked basis Binance savings option. Basically, you need to deposit your Binance for an agreed-upon time, say 90 days, to earn Binance interest. The good news is that this option has the highest BNB savings interest rate to entice investors. So, check thoroughly and make the right decisions.
How to Know the Best Crypto Savings Platform for Binance Interest
For many crypto investors, the volatility of the sector and security challenges have been a big concern. Even though Binance has been growing exponentially, telling someone to save all their coins with you to earn interest in return requires a lot of decision-making. Here are the main features of the best crypto savings platforms.
- Security – Since investors deposit their Binance with a crypto savings platform and wait to earn Binance interest, they must trust the security protocols put in place. Reputable BNB savings exchanges and platforms are clear on how they store the coins to assure clients of the safety of their BNB savings. They also allow investors to withdraw their digital assets if they feel these assets are not secure. So, if you are looking forward to earning Binance interest, this is the option to go for.
- High-interest rates – Who does not want the best Binance cumulative interest? So, every investor is looking for a platform with the best APY in the market plus other benefits such as bonuses. Fortunately, there are many to compare, so the options are not limited.
- Ease of use – Technology is challenging in many ways. So, crypto savings platforms try to make their interfaces user-friendly and convenient. When you choose the best, you will not only enjoy an easy account-opening process but also the ease of making deposits and withdrawals. Most importantly, they have a Binance interest calculator and other tools to improve the user experience.
That said, here are some of the best crypto savings accounts with the best Binance interest rates on the market.
Binance
Binance is a big crypto management platform with its own digital coin, BNB or Binance Coin. However, you can trade or save any other coins of your choice such as BTC, ETH, USDT, and USDC among many others. The Binance platform is an elaborate platform that enables you to earn high Binance interest on your crypto savings. Additionally, you can borrow finances against your crypto at low-interest rates.
The platform has a BNB saving interest rate of up to 15% APY depending on whether you choose flexible or locked deposits option. For the latter, the popular duration is 15 days, but you could opt for more on their website.
Since the Binance platform is dynamic, opening an account on their website unlocks numerous crypto opportunities on top of earning Binance interest. So, visit their website, open an account, choose your preferred Binance savings option, and deposit the amount of Binance you want to start saving. If you choose the flexible savings option, the plan is indefinite, but you have full control of your digital assets.
The Binance platform is popular for BNB earn interest because of the following reasons.
- Fixed and locked option – As mentioned, the investors can choose the option that entices them depending on the BNB savings interest rate or any other reason. All the information is on their website to help you choose.
- Secure platform – As one of the biggest digital asset management platforms with its own digital coins and blockchain, Binance takes security seriously, which is why it has gained a positive reputation.
- Investor-friendly withdrawals and exchange fees – Even as you save to earn Binance interest, you cannot help but make withdrawals and trade as a crypto enthusiast. The Binance platform is your best option because of its affordable fees for fast transactions.
YouHodler
If you have been a hodler in the past, you know that YouHodler is one of the best platforms to use for very good reasons. It has high-interest yields, a secure platform, weekly interest withdrawals, and accepts a wide range of coins. Right now, Binance Coin is one of them.
You can have a BNB interest rate of up to 3% APY if you are not interested in exploring Bitcoins, altcoins, and other stable coins. The interest is compounded daily, and investors can access their Binance interest dividends weekly.
So, how do you go about investing BNB on YouHodler? According to their website, you need to first open an account with the platform and deposit the Binance Coin you want to save. If you do not have the coins ready in your digital wallet, you can easily buy them on YouHodler’s platform using a variety of payment options. So, check with their conversion calculator to know more.
YouHodler should be your option to save Binance for many reasons.
- Low minimum – Do you want to start small and grow your BNB investment? No problem. YouHodler allows you to deposit as low as 50 BNB into your savings. So, if you are new to crypto or just want to start with little investments and grow along the way, this is the best platform to choose.
- Control of your funds – With a flexible savings option, investors can access their digital assets at any time. Hence, they can withdraw their assets to use somewhere else, deposit to grow the investment, or trade if they want.
- Low withdrawal fees – Since, the platform is an exchange as well, they charge withdrawal fees. But the good news is that the fee is almost zero. This is also the case for other cryptos that you would like to save or trade on the platform.
Nexo
Nexo has been helping crypto investors to earn Binance interest by hodling it. So, if you want to beat the volatility by waiting for the best time, the best thing is to save with a trusted platform. Nexo qualifies because it has high rates, is secure, and is very user-friendly.
The BNB interest could go as high as 8% APY on this platform, which is quite enticing to many investors. Likewise, the interest is compounded daily, and the platform has made it easy for investors to withdraw daily.
Is this a platform you would like to earn Binance interest from? Visit their official website to sign up and get an account. Thereafter, your account will be ready for the first Binance deposit, which you can make from your digital wallet, or you can just buy the coins directly on the platform. As soon as it is deposited, the platform will automatically start to earn Binance cumulative interest.
In summary, here are the reasons to make Nexo your go-to savings platform for Binance and other crypto.
- Compounded daily interest – If you do not want to waste a lot of time waiting for your Binance interest, you can see it grow because Nexo has compounded daily interest.
- High security of digital assets – The platform is highly secured by BitGo and Ledger. Currently, they have over $375 million in digital assets, and there have been no major security breaches.
- Full control of your digital assets – Just like other popular crypto savings platforms, Nexo gives investors full control of their digital assets. In addition to earning BNB interest daily, you can withdraw or top up your investment at any time you wish.
Conclusion
It is possible to earn some good Binance cumulative interest when you choose a reliable crypto savings platform. Whether you are new to crypto or otherwise, the insights we have shared above will be of help to you.
The most important secret is to focus on a platform that is secure and has growth potential. Ultimately, such a Binance interest-earning platform will have the best rates and benefits for you. Do you have idle Binance Coin lying somewhere? This is the time to hodl it as you wait for the right time to trade.
By Benard Njuguna
Bio: Benard Njuguna is an experienced writer and content specialist. He has contributed to various publications in the finance and business sector. He has researched and written many publications in cryptocurrency and blockchain.