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Binance, the exchange of bitcoin and cryptocurrencies with the highest volume of trade, added to its cryptocurrency, Binance Coin (BNB) , to the Staking page within your platform.

Through this option, which has been enabled since March 9, exchange users can earn interest for leaving BNB blocked for a specified term , which can be 15, 30, 60 or 90 days.

The interest received, which is paid in BNB, varies according to the blocking period. At the time of writing this article it is 27.49% per year for 15 days; 8.49% annually for 30 days; 12.49% annually for 60 days; and 16.49% per annum for the 90-day term.

Binance details that the annualized yield is adjusted daily according to the amount of coins deposited on the platform.

The minimum amount to deposit is 0.1 BNB (about USD 27). The maximum varies depending on the blocking period chosen. For 15 days the maximum is 5 BNB; for 30 days it is 5,000 BNB; for 60 days it is 500 BNB; and for 90 days it is 100 BNB.

The company directed by Changpeng Zhao informs that it is also possible to make an early withdrawal. “After choosing the early redemption, the capital will be returned to the Spot account and the distributed interest will be deducted from the repaid capital”. To receive the BNB, in case of requesting the early withdrawal, you must wait between 48 and 72 hours.

To access the staking of BNB once the user has your tokens, you must transfer them to the Earn wallet within the Binance platform. Subsequently, it is necessary to go to the page Binance Earns and, once there, click on Staking .

Within the Staking section, the Binance user will be able to choose the term during which they wish to keep their BNB deposited to obtain interest.

At the time of writing, each BNB is trading at USD 273. As CriptoNoticias reported, it was worth more than USD 300 two weeks ago. According to its market capitalization, Binance Coin ranks third in the ranking , after Ether (ETH), the cryptocurrency of Ethereum.

Interest with bitcoin, Polkadot and other cryptocurrencies on Binance

Other cryptocurrencies with which Profits can be made on Binance by staking are Polkadot (DOT), Origin Protocol (OGN), Solana (SOL) and Polygon (MATIC).

The platform also allows you to earn interest through Flexible savings with bitcoin (BTC ), Binance USD (BUSD), Tether (USDT), 1inch and cardano (ADA). Through these types of savings, cryptocurrencies can be withdrawn instantly. The returns are lower than those of the staking since they do not exceed 6% per year.

In order to participate in these financial products with cryptocurrencies, it is necessary to be enabled as a Binance user, which involves completing the registration form on the company’s website.

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