offers a suite of products for customer to grow their crypto holdings easily. It is compared to a crypto savings account, where one may increase his crypto holdings and earn a passive income without trading. Currently over 3.6 million daily active users are utilising this tool, which allows them to save or even become liquidity providers.
There are six products that are offered under the scheme, with the first being Flexible Savings. It has been identified as a go-to option for anyone with a low-risk appetite, since they can simply subscribe to this product and redeem their earnings at any time as needed. The second product is the BNB Vault, a capital-guaranteed investment product that helps users maximise the income potential of their Binance Coin. It is recommended for users who are averse to high-risk ventures, as they may easily invest in both centralised and decentralised finance products with maximised yields.
The third is Fixed Savings, which is comparable to fixed deposits provided by banks and non-banking financial institutions. Users of this product can save between 7 to 90 day lock-up periods to earn increased returns. In order to enjoy full benefits, the user can only redeem their funds after the lock-up period, or they risk losing the accumulated rewards. The fourth product is Locked Staking, which involves the act of locking cryptocurrencies to yield rewards. Here, redemption requires a certain unlocking period, and this period differs based on the product chosen.
DeFi Staking is another product offered by Binance to enable proxy users participate in related decentralised projects. Here too the funds are locked in a fixed period and users who withdraw assets in advance may lose their corresponding rewards. The sixth and final product is Dual Investment. This product enables users to deposit a single cryptocurrency and earn yield based on two assets. It provides users with more control over their risks, although it offers non-guaranteed floating earnings.
