Binance Earn offers you one of the fastest and simplest ways to earn passive income with cryptocurrencies. Learn about a passive income idea that could earn high-interest rates on your crypto assets through this post.
- Interest rates on conventional savings accounts lag far behind inflation
- In a Binance survey, nearly 2 in 3 users who owned crypto have never used a crypto savings product
- Binance Earn lets users easily grow their crypto, with attractive yields of more than 45% on select cryptocurrencies
- More than 3 in 4 surveyed users are dissatisfied with interest rates on fiat savings accounts
Remember when savings accounts used to offer high interest rates? Neither do we. Average interest rates now hover around a fraction of a percent for many conventional savings accounts, making it difficult for users to grow their money—to say nothing of outpacing inflation.
By comparison, cryptocurrency users can look forward to higher yields on their crypto assets, though crypto savings products are still relatively underutilized. In a recent Binance survey, we asked over 3,400 users about crypto saving and discovered some surprising results.
Nearly 2 in 3 HODLers miss out on passive earnings
Of those surveyed, 41% preferred to use a strategy called “HODLing”, where users seek higher returns by buying and holding onto their crypto assets, as opposed to making frequent trades or performing more complex trading strategies.
By HODLing, users can avoid making bad trades, and some studies even indicate that HODLers perform better than day traders over longer periods of time. In addition, by keeping crypto assets on hand, users can earn interest and maximize their earnings.
However, our survey results show that 63% of respondents have never used crypto saving products like Binance Earn, despite standing to gain the most from such products.
Binance Earn lets users earn higher yields—over 45% on select cryptocurrencies
Whether it’s simple savings products or more complex staking products, Binance Earn helps beginners and advanced users alike earn attractive yields without having to make frequent trades.
Users can choose from 10 different ways to make money with Binance Earn, with many products offering principal guarantees, which ensure your initial deposit remains intact.
More than 3 in 4 respondents are dissatisfied with interest rates on fiat savings accounts
Risk-averse users who are conscious of price volatility can even earn yields on stablecoins, with interest rates exceeding 5% on certain offerings. Because stablecoins aim to limit volatility, users can enjoy solid yields without exposing their funds to potential market dips.
For the 76% of respondents who claimed they were dissatisfied with interest rates offered with their fiat savings accounts, Binance Earn’s comparatively high yields on stablecoins could prove to be particularly attractive. Meanwhile, more adventurous users can opt for high yield products, which offer sky-high yields in exchange for greater risk potential.