Today we will talk about passive income, i.e. when you do what you want to do and money is dripping into the wallet by itself.
Most of us are very sceptic about passive income. And it is obvious because there is a lot of fraud, scam and other online and offline cheat today.
But don’t worry. I am not going to promise you a lot of money in a very short period of time. And I am not asking you to pay me. Furthermore, I am not going to introduce to you any new platform. That platform is well-known in internet and in blockchain world.
Today I will show another side of Binance trading platform. (If you register with that link, you will get 5% payback from all of your trading transactions).
First of all, go to Finance -> Savings.
Savings can be flexible and locked.
You can subscribe for the Flexible savings anytime and can redeem it anytime. And you get interest every day. However, the interest rate is lower when in locked savings.
There are a lot of products (cryptos) in flexible savings.
Savings can be subscribed with an auto-subscription, all your daily interest will be added to the deposit. In one word, your deposit will increase daily.
Locked savings can be subscribed for a fixed term. Usually, a min period is 7 days and max — 90 days.
There are less available products (cryptos) in locked savings than in the flexible savings.
However, today locked savings have a higher interest rate than flexible savings. For instance, if you put on deposit crypto coin ONE for 30 days, you will get 8% of interest rate. And if you open deposit for 90 days, you will get interest rate equal 16%.
In order to make a savings subscription, all you need is just to choose the product and then to click on the Subscribe bottom.
Then the Customize Products window will pop up. You need to choose the crypto, deposit period, lots amount, and then clock on Confirm purchase bottom.
You can check you savings in Wallet -> Savings Asset tab.
My flexible savings looks like that. Estimated value of my savings is about 199 USD.
As you can see, different cryptos have a different interest rate, therefore, it brings me a different income. For 2 weeks of flexible savings, I got 0.08 USD.
But I think it is better than nothing. And if you invest more in tokens with a higher interest rate you will get more income.
TRX token has the highest interest rate for today.
I plan to rearrange my flexible savings and move some of them to the locked ones.
There is also Staking in Binance. But I didn’t try it by myself yet. So, I can’t tell you anything about it now.
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