September 9 2019

Binance Deposits – 15% Annual 🥇

August 28, the cryptocurrency multi-discipline company Binance launched a deposit program announced a few days ago, where investors can receive up to 15% annual. 🔥

According to the information posted on the website of the crypto-exchange registered in Malta, the new Binance Lending service will allow exchange users to receive passive income on the funds provided by them, the amount of which depends on the type of crypto asset.

The cryptocurrency exchange accepts Binance Coin (BNB), Ethereum Classic (ETC) and Tether (USDT), for which annual interest initially set at 15%, 10% and 7%, respectively. 🤔

The first subscription is open from August 28 to August 29, and the deposit will last for 14 days from August 29 to September 10. The interest payment time will come immediately after the loan expiration. Annual interest rates for subsequent stages will be adjusted based on market perception at this initial stage.

However, the total number of coins and the contribution amount of each depositor will be limited. 📝

Jeff Dorman, director of investment at ARCA Capital, an Los Angeles-based asset management company that invests in cryptocurrencies, praised Binance’s new initiative:

He sad: “If you can trade, store and receive passive income, all in one place, this creates the best user experience.” 💱

At the same time, he noted that 15% is an extremely large income and this cannot last long due to competition.

However, Changpeng Zhao, the founder and head of Binance, explained the source for paying such a high reward – that is the margin trading on the same platform where the borrowed digital currency will be sent.

For investor who writes for “Bloomberg Opinion” Aaron Brown,  such an argument seems convincing:

Aaron Brown stated: “If you want to borrow coins from Binance, you pay more than 100% annual, so the offer to pay loans from 10% to 15% still giving them a huge spread” 🥇

As can be seen from the above data, the Binance Coin is in a privileged position. Analysts believe that in this way the cryptocurrency exchange wants to raise the cost of BNB, which over the past month has lost about 10% or more. 🔍

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Posted 09.09.2019 by admin in category "Crypto World News