Binance Unveil New Lending Service

Binance Unveil New Lending Service

The capabilities for traders at Binance has just become more diverse with the lending service now in place on the platform.

Binance Lending, as the service is known, will allow users to ability to lend out any crypto held by users on the platform and in exchange, users will gain interest on the lent asset when the lending period is over and the assets are returned to you. Currently, users can already get in involved and benefit from lending out BNB and USDT, but more options are said to come available before long.

Simply choose the amount you want to lend. With the current hardcap for BNB sitting at 500 BNB, while the hard cap for USDT will be 1,000,000. These funds will then be stored for 14 days during which they will not be able to withdraw the funds, but for future products, this time scale can vary. Once that period is over, then the funds are returned alongside the interest accrued. Users can also opt to make use of Binance’s margin trading service in conjunction with the lending service if they would like to get involved.

 As Binance points out, the main benefit from lending out their crypto is the ability to benefit from “passive gains” as your assets will increase without you needing to do anything and regardless of market activity. This can be quite significant gains too with current the interest rate for BNB is pegged at 15% for the 14-day period. As Binance explain if you were to store the full 500 BNB on the lending service, over the space of a year that could see you gain 75 BNB, which would work out as 2.875 BNB over the course of the 14-day period.

Plus, any crypto stored in Binance Lending will be counted in the daily calculation of BNB balances and thus, can see you benefit from promos on the platform too.

Recently Similar News

Latest Guides

Latest News


Bao Casino Offering High Roller Bonus

Bao Casino, the online cryptocurrency based casino, is offering a large bonus for high rollers. Bao Casino, the online cryptocurrency based gambling site, is offering a new bonus for their high rollers. It is very easy to qualify for this promotion and is available to anyone who has the capital. For a limited time only, […]

28 September, 2020
Binance,Blockchain,Cryptocurrency,Exchange Platforms

Binance Visa Cards Are Now Available in Europe

Binance, the largest cryptocurrency exchange online, has recently released a Visa card in Europe, allowing users to get up 8% cashback on all purchases. Binance, the world largest cryptocurrency exchange, has partnered with Visa in order to continue their expansion into the European market and released the Binance Visa card. This card is available to […]

28 September, 2020
CFD Trading Platform,Cryptocurrency,Exchange Platforms,Trading

IQ Option Identifies Some of the Biggest Obstacles in Trading

IQ Option, the CFD and cryptocurrency trading platform, has recently created a blog post highlighting some of the biggest obstacles traders face when trading. IQ Option, the online cryptocurrency and CFD trading platform, has released a blog post highlighting some of the biggest and most challenging obstacles a trader can face while conducting their trades. […]

28 September, 2020
Bitcoin,Crypto Wallets,Cryptocurrency,Trading

Kraken Wins First Ever U.S. Bank Charter Approval For A Cryptocurrency Exchange

Kraken, the online cryptocurrency exchange, has been granted regulatory approval to be the first cryptocurrency firm with a Special Purpose Depository Institution (SPDI). Kraken, the large cryptocurrency exchange, has recently been granted approval to operate as the world’s first Special Purpose Depository Institution (SPDI), which for now is being called Kraken Financial. The license was […]

28 September, 2020

Binance Reviews The Month In Cryptocurrency And Highlights DeFi

Binance, the online cryptocurrency exchange, has released their monthly review, highlighting the historic rise of decentralized finance. Binance, the largest cryptocurrency exchange in the world by volume, has recently released their monthly review of the cryptocurrency space, highlighting the massive growth in the decentralized finance (DeFi) sector. Besides the launch of Binance Smart Chain, Binance […]

28 September, 2020

CoinMarketCap Identifies Bullish Events for Bitcoin and Explains the Drama Behind SushiSwap

CoinMarketCap, the world’s largest cryptocurrency market cap aggregator, has released an opinion piece on events surrounding Bitcoin and all the drama behind the SushiSwap saga. CoinMarketCap, the large online cryptocurrency market capitalization aggregator, has created an analysis on events surrounding Bitcoin and the craziness surround the latest DeFi craze, SushiSwap. The main event related to […]

28 September, 2020
Decentralised,Ethereum,Exchange Platforms,Trading

Uniswap Launches UNI Governance Token With Airdrop

Uniswap, the large decentralized exchange, has recently launched their governance token, UNI, and have given away 15% of the token to users. Uniswap, the Ethereum based decentralized exchange and decentralized financed (DeFi) application, have recently launched the governance token, UNI, and have airdropped a large portion of the token supply. All in all, Uniswap distributed […]

28 September, 2020

Changelly Explains The Concept of Short Selling

Changelly, the online cryptocurrency exchange, has recently released an article on short selling and how you can take advantage of it as a user. Changelly, the larger online cryptocurrency exchange, has created a blog post highlighting short selling and what their users can do to take advantage of this trading feature. Short selling can take […]

28 September, 2020