Binance Launches Crypto Lending Service - Earn Up to 15% While You Sleep
One of the largest cryptocurrency exchanges in the world by trading volume, Binance will launch crypto lending service for its users who hold idle digital assets.
Earlier today on Aug. 26, Binance CEO Changpeng Zhao made people curious with his tweet. He twitted:
Would you like to earn #crypto while you sleep? Keep an eye on @binance today.
The above tweet made people excited and people started guessing about it. "What will Binance do today?" Many guessed it right as well. We also got some rumours about their lending service and we also shared that on our official telegram group.
Later on the news came out and according to the official announcement, Holders of Binance Coin , Ethereum Classic and Tether will be able to lend their cryptocurrency and earn interest through Binance Lending option, which will be launching on their exchange on Aug. 28, 2019 6:00 AM (UTC).
First subscription period will start from 28th Aug. till 29th Aug. Initially, lending will have 14 days maturity period. Interest will be paid immediately after loan term matures. Subscription will be limited to 200,000 BNB, 10,000,000 USDT and 20,000 ETC with the highest 15% annualized interest on BNB, 10% on USDT and 7% on ETC. Subscription is based on First-come-first-served basis.
According to “Binance Lending Service Agreement,” Binance Lending assets will be used in cryptocurrency leveraged borrowing business on its exchange. #Binance #BinanceNews #BinanceUpdate #BinanceLending #Bitcoin #Crypto #CryptoNews #BEI #BEI24