hey guys welcome to another video this one is a binance earn tutorial i’m going to go through all of the different options and products that you can have on binance earn so if you have a binance account then we can go through the savings products the staking products the d5 products and a few other savings products as well so if you want to earn extra income from the cryptocurrency you hold on finance you can see all of the different options that binance has there are lots of different sections in this video so you can look in the description for all the timestamps and click through to all the sections that you want i’ll also leave the link to binance in the description if you haven’t got an account already you can go and sign up from that link once you do have an account.
Now you can come up to finance and then come to binance earn and you’ll see all of the different products that binance gives binance is for sure one of the most robust product offerings when it comes to earning some extra income from your cryptocurrency you can stake your coins to earn some extra income but also invest them in some other ways to earn higher rewards as well there are a lot of products here some are through flexible terms and some are through fixed terms there’s also a category called high-risk products you can actually choose products based on how much time that you want to give over your coins and how much risk you want to take with your investments as well so you can invest in these defy services through binance and they take a lot of the complexity out of it and there are some more low-risk options when it comes to savings as well let’s first then come to savings and fixed savings we can come down to the fixed saving option right here and then we can come and view more to see all the coins that are supported with fixed or locked savings you have to lock your coins away for a certain period of time you can come and see the annualized interest rate here this is given as an annualized figure so that you can go and compare it to other options then you can choose the duration either 7 14 30 or 90 days the longer the period that you lock your savings in the higher return that you can get you can see 90 days gives you a 7 return and a 7 day only gives you a 6.31 return on the usdt if we go and click on transfer you can see the options right here you can click the duration you can then see the lot size for this product lot size is how many usdt that is the minimum that you can enter in in this case it’s 100 usdt which is the equivalent of 100 us dollars you then come down here to the lot amount remember each lot is 100 us dollars so if you type in one that will be the equivalent to 100 us dollars and if you type in two that would be the equivalent to 200 us dollars you can then see the individual max and how many lots that you can save at once the value date which is when you start and the redemption date when the savings ends it will also give you an expected interest for your savings over that time you can go ahead click agree and then go and transfer the usdt into the savings product there’s also flexible terms though so if we come out of lock savings go back into binance earn come up to flexible terms then we can go into flexible savings right here so we can click on view more binance offer many more coins with flexible savings you can see up to 56 right here so you can click on this and then you can see all of the different cryptocurrencies that are supported i actually have some usdt in this savings product so you get a six percent return but you have flexibility over the term this means that you can redeem the coins at any time so i can go in right.
Now and redeem them and stop using the product you can see the annual percentage seven day yield right here you can see yesterday’s flexible yield and the flexible interest per thousand coins if we come down to transfer on us dollar tether there is.
No lot size.
Now so you can just enter an exact amount of usdt that you want to use you can see the value date which is the start date the flexible interest per thousand the maximum subscription of us dollar tether that you can use for this product and the seven day yield this is given as an annualized percentage just click that you’ve read the terms and conditions and you can transfer that you can also turn on something called auto transfer as well you can see that i actually use this product for the us dollar tether this means that any us dollar tether that is on my account on a daily basis does get transferred into this daily flexible savings product this means that i don’t have to worry about it and transfer funds in and out daily any funds that i have on account including interest that i’ve earned from the product will be added to the.
Next day coming back to finance earn we can come down to launch pool which is also a flexible term product when you participate in launchpal you’re actually putting over some of your coins and participating in.
New coins being minted on finance you can only use a certain subset of currencies to invest you can use bnb you can use bitcoin and you can use busd bnb coin is binance’s cryptocurrency and it’s used to pay for fees on binance and also for investing busd is finance’s stablecoin that tracks and pegs to the us dollar you can come down and see some ap wires right here you can see it’s much lower than other options but you do get.
Newly minted coins and you can see that there are a few different options running right.
Now what you have to do is go in and stake some of your coins you can press stake.
Now it will give you your yield and it will also show you the rewards right.
Now if you stake some bnb coin you will actually be rewarded with some bitcoin tokens this is a.
New type of token or coin that bitcoin are producing and putting on the bitcoin exchange it is flexible so you can redeem your investment and your coins at any time that you’ve invested and of course you’ll have to make a decision whether or.
Not you actually want the.
New coins in your account so that is an option for you to choose coming down to bnb vault and this is actually an income product from binance they actually take a few different products and put them all into one bnb vault is a mix of flexible savings also device staking and launch pool the aim is to spread your investment over different risk categories but to keep your income as high as possible bnb actually call it a yield aggregator you can only use this if you’re using or have bnb coins so if you have bnb tokens you can stake them right here and you can also use auto transfer for this product as well you’ll see that your launchpad rewards are some coins that you may or may.
Not want so this is up to you and you have to do your research on these coins because rewards will be actually paid out in these coins as well it is a flexible product you can unstake at any time once you do have rewards though these other coins will be deposited into your spot account.
Next we’ll come to activities in finance then so we can scroll down to the fixed terms and then come to activities and click view more.
Now these have a very limited time scale and are usually over subscribed meaning it’s very difficult to actually get in there’s been over 155 special activities so far and they usually feature all coins or smaller coins that you might.
Not know but as you can see the annualized interest rate is incredibly high it will also give you a possible duration for the investment so.
Not a very long time this is obviously an annualized percentage so different from what you’ll get in those 15 days they do though usually have very high demand and a limited supply so most of these as you can see have ended and have been mostly oversubscribed you can see the 100 subscription here 87 so do check out four special activities when they are available let’s get on to staking though because this is what a lot of people will do and if you are getting any value out of this video please just hit that like button subscribe for more and share this video we’ll come to staking then in the fixed terms actually binance do provide some flexible staking as well but locked staking is the most popular viewing more we can see all of the products right here staking is the process of putting up your coins as collateral to participate in a proof of stake blockchain i’ve got a video explaining exactly what proof of stake is so i’ll link that in the description for you you can put your coins up for a variety of durations anywhere from 15 days maybe to 90 days depending on the blockchain and the coin you’ll also see your annualized percentage yield right here and of course this is different for different coins and different blockchains binance does support a good array of coins for staking though one inch sushi polka dot ada or cardano and also ethereum staking is available on binance we’ll get to ethereum 2.0 staking in a second though if you want to go through and stake a coin just find the supported coin on the system so i’m going to choose dot and i can see the annualized percentage yield right here i can also choose the duration long durations are usually sold out as you can see so you might have to choose a shorter duration overall 30-day is okay for me then i can go and click stake.
Now you can see that the staking is locked i’ll pick the duration and then just choose the amount of polka dot or other cryptocurrency that you want to stake you can click on max to choose everything or you can go and just actually enter an amount you’ll see the stake date which is the date that you start the value date which is the day that the term ends in this instance it’s 30 days the yield is also shown here for you and it actually gives you an amount of dot that you would expect to receive after the staking period come through and just click on the terms and conditions and then click confirm purchase those coins will be locked away for the period if i went ahead and confirmed this this would mean that for the.
Next 30 days i would lose access to those coins i couldn’t trade them and i couldn’t transfer them out but after the 30 days is up i will get the coins back plus my interest let’s come back to the binance and home page and then scroll down to ethereum 2.0 staking this is such a big project that it has its own section so let’s click on this and you can come and read this for yourself i have videos specifically on ethereum and what ethereum 2.0 is so again i’ll link those in the description if you want to go through and look at them to very quickly explain though ethereum used to be a proof of work blockchain and they are changing.
Now to a proof-of-stake blockchain this means.
Now that you can participate in staking coins in ethereum and ethereum is still between 1.0 and 2.0 it’s going to take some time to switch over to ethereum 2.0 and you can actually see that it may take as long as two years so if you are going to put some ethereum on account for staking just be aware that you may have to put it on for a very long time.
Now something that binates do which i think is really great is they tokenize something called beth or binance eth or binance ethereum the ticker for these coins is b-e-t-h or beth ethereum give you those beth coins so let’s say you have some ethereum and you put them on account and you stake those they will actually give you in a one-to-one ratio b-e-t-h coins and you can go and use those one for one just like you would ethereum so you can trade them you can withdraw them you can do many different things with those coins that is a big positive of using binance.
Now binance obviously take a fee for the services that they’re providing for you but to actually stake some ethereum coins and then have some b-e-t-h you know one-for-one ratio that you can go and maybe trade with and do some other things with i think it’s a big positive ethereum staking for ethereum 2.0 is just a waiting game until the ethereum 2.0 code really takes over as the main part of the ethereum.
Network and it fully goes over to a proof of stake blockchain there are some risks with ethereum staking though and we can see that here via this graph actually which is a quite a good visual means of really explaining what is happening ethereum want people to stake their coins for the switch over to ethereum 2.0 but there’s a finite amount of coins or rewards the more people that apply and the more coins that are staked those rewards are split over more people and you can see this very clearly here during the staking period between ethereum 1.0 and 2.0 if only half a million ethereum coins are staked then the people staking those coins will get an annual percentage yield of 21.6 which is certainly a very good amount of interest or rewards that you’re getting the more people that stake their coins the lower this yield will be though of course because those rewards are split over more people so you can see around two and a half million eth the average percentage yield may be just under 10 percent and if about 10 million ethereum coins are staked the average percentage yield will be about five percent and remember you may have to stake your coins for anywhere around 12 to 18 months one of the big risks of this is that you really don’t know what the apy is going to be by the time you get your coins back but other than that a lot of people are staking ethereum coins you can go through and state.
Now so we’re going to come to this and if you have some ethereum on account you can go and press max or you can go and just enter an amount on here you can see that once you stake your ethereum coins it will distribute to you 100 beth because it is a one-for-one ratio so how many ever ethereum coins you stake it will distribute those for you you can then just go through and confirm and it’s as simple as that.
Now remember your ethereum coins will be staked we’ll go through and see the dashboard towards the end but your ethereum coins will be staked and then you will get 100 b-e-t-h into your account another section we can look at in binance earn is defi staking or decentralized finance staking and this one we can go and view more and it does support a few coins in defy staking once more these are sold out for.
Now but you can check this at the time you’re watching what is the fire staking then well binance offers this and really most of this is done on the ethereum blockchain.
Now the fire stands for decentralized finance essentially people and businesses can use the ethereum blockchain to trade financial products and also come up with many other projects like dapps or decentralized applications this is a product offered by binance so what binance are essentially doing is investing these coins with other projects on blockchains so if there are other projects other groups that are wanting to come up with some decentralized apps and wanting to use the blockchain and essentially try and make money from it but they.
Need those coins first for many different reasons that’s essentially what you’ll be doing giving your money over to binance and then binance go and invest in various d5 staking products any hacks that occur and any coins that are lost are totally your liability they will.
Not provide any recourse if any other projects are hacked and the coins are disappeared so just to keep that in mind but the only one you can do for right.
Now is dai so you can come in here and very simply you can either choose flexible or lot what’s the difference flexible will give you a lower percentage yield but you can take your coins out at any time that you wish if you choose locked staking you have.
No access to your coins you have to keep them on account for the duration you can choose 70 or 30 days in this instance then you choose how many coins that you want to stake it will show you down here the minimum is 100 the maximum for this one anyway is 100 000 you can see the start date the value date that’s only one day because they do actually renew it every single day you can see the redemption date right here uh 30 days time will obviously be in february we’re starting it in january it will then estimate the average percentage yield for you at the time that you’re entering this so you know just under 9 and then the estimated interest that you’re getting this will be the amount of coins that you actually receive back after the 30 days period you can then just come down here i have read the terms and conditions and agree and then just go and literally stake your coins that’s all you.
Need to do and make sure you have those coins on account of course it won’t let you do that if you don’t have them on account in the first place.
Next up is dual savings or dual investments this is actually quite a complex product you can see it’s in high-risk products as well but if we come to dual investments you can see some quite extraordinary returns the annualized income is extremely high but that does come with extra risk as well let’s click on view more and see exactly what you can do with dual savings you can only use a subset of the largest cryptocurrencies you can use bitcoin you can also use usdt this is a stable coin meaning that this coin just tracks the us dollar on a one for one ratio and then you have busd this is binance’s version of usdt it is a u.s dollar-backed stablecoin so it pegs the us dollar one for one you can receive an incredibly high interest from these investments but it is.
Not for the faint-hearted there are actually some very complex rules on how you invest so as an example let’s say you invest some btc you can see that there are different contracts with different strike prices so you can enter into one of these contracts and essentially bet on the price of bitcoin being at a certain level on a certain date let’s say you enter into one of these agreements with bitcoin at a strike price of 49 000 this means that you expect the price of bitcoin to be 49 000 or above on the date that the contract expires otherwise known as the value date if it is indeed above this price you will gain your interest plus bitcoin back if the price of bitcoin is below this on the value date you will still receive your interest but you will be swapped out into busd so you will.
Not have bitcoin anymore you’ll be swapped out into busd which is a us dollar stable coin so why would anyone actually want to do this well this is essentially a bet on the currency pair itself you are trading bitcoin against the us dollar essentially through these stable coins you can gain a very very good interest but also at the end of the term you may get swapped out into a currency that you don’t actually want if though you think that the us dollar is going to perform relatively well compared to bitcoin then you may actually want to swap into us dollars so that may be beneficial for you this is definitely a complex instrument and it’s more like trading futures this really is more for institutions that are making bid bets on one currency versus another coming back to binance earn though we can come right down to liquid swaps and again this is a high-risk product and also quite a complex product but we’ll come through to view more liquid swaps is a way to earn income from giving your coins over to binance and increasing the liquidity on the platform rather than having all your coins in a wallet though gathering dust you can actually give them over to binance give them over to the liquidity pool and earn quite a decent income on them this is a very very.
Normal thing to do in finance giving your money over to provide liquidity and of course if you provide a service you expect to get some return from that binance though don’t want you to add one coin that doesn’t really add liquidity you.
Need to add two coins in a currency pair so you can see busd against usdt you can also see a lot of the other currency pairs and most of these are stable coins and there are some other coins in here as well if you just add one of the coins you will be charged a fee for this which kind of makes it pointless but if you add two you won’t get charged a fee but on top you actually earn a very good interest and some of the trading fees that other traders are paying interest fees for this product are variable but you can see the rate of return when you enter into the transaction when you enter into the swap you’ll see the price how much you have how much percent of the actual pool that you have and a 24 hour and seven day yield percentage if we come up to the top you’ll see two different types of investments stable here and innovation stable coins are pegged to a fiat currency and you can see them here you have busd which is uh against the us dollar you also have some bitcoin markets innovation though supported coins here are slightly different and you get a slightly lower income overall we can also come over to the swap market right here if we click on swap you can see there’s an option box this is a way to trade cryptocurrencies within the liquidity pool in binance rather than going to the open market and placing a trade you can place a trade within binance’s own private liquidity pools you can only trade between popular assets like bnb’s stable coins us dollar tether and some other stable coins this is a very low cost way to trade and the liquidity is there you can trade very very large amounts this is really meant for institutions that.
Need to trade large amounts and potentially.
Need to trade off the market lastly we can come through to the binance and wallet dashboard so we can come up to wallet and then come to earn right here and you can see all the investments that you currently have i’ll just take my assets off hidden so you can see i’ve only got one product in here right.
Now which is usdt like i said this is earning me a flexible savings income so you can see the total amount that you subscribe to any interest that you have the amount of interest that you have and the percentage rate as an annualized return any other products will be all in here for you and you can see an overview of your account and all of your savings incomes right here you can also swap between all the different products and see all of your different investments just by clicking these links if you also have the binance smartphone app everything is laid out here for you you can come to the homepage then come over to wallets and then you can scroll at the top and go through to earn you can see all of your earn savings the income generated and all of the other savings products that you have in your binary wallet and at the top you can switch between valuing them in bitcoin or the us dollar by pressing that icon if this video was helpful for you please like and share the video also subscribe for way more helpful cryptocurrency content