With a Binance Coin Savings Interest account, your BNB could earn you as much as 8% APY on platforms like YouHodler and Nexo. While idly HODLing BNB idle could make you a profit when the market goes up, sometimes it takes way too long to realize the gains you are hoping for. With platforms like Nexo, you can reduce the risks of HODLing BNB and earn passive income through a BNB savings account. All you need to do is top up your wallet and you will start earning immediate returns. By using a Binance earnings calculator, you can estimate how much interest you could be making through BNB coin savings.
BNB Coin has evolved into one of the most valuable cryptocurrencies by market capitalization. In recent months, it has even outranked XRP and LTC. If you want to multiply your BNB tokens, holding on to them may not be the best idea. Instead, you should consider earning interest on your Binance GBP savings or Binance euro savings.
First of all, you will need to create your Binance interest account. You will need to choose a BNB interest account provider, visit their official website, and use your legal name and email address to register.
After signing up, most websites will require you to verify your account. To do this, click on the confirmation link sent to your mail and your account will be activated. To start earning interest on your BNB, the next step involves going through KYC proof of identity procedures. To complete this step, you will need to upload your national ID and take a photo of you holding the government-issued identity card.
NB: The above procedures may not be necessary if you are signing up for a DeFi (decentralized finance) interest account provider. Many DeFi platforms have simplified signup procedures so that customers don’t have to go through rigorous verifications.
YouHodler is one of the best platforms offering cryptocurrency savings accounts for stablecoins, including BNB coin earn features. This company pays interest up to 3% APY on Binance coin nut users must have at least 50 BNB in their savings account to start generating interest.
When you have completed the KYC steps, deposit your BNB coin to start generating interest on your assets. You can always log in to your user account and check out the available deposit options. To reveal your unique wallet address, click on the Binance Coin option.
Copy your coin wallet address and paste it to the place you are withdrawing your BNB to your interest account. Enter the number of Binance tokens you want to send and click on the withdraw button. Complete the transaction and you should receive your Binance coins in your interest-bearing BNB account.
As soon as your BNB reflects in your interest account, you can start accruing interest automatically. Depending on the wallet provider you choose, interest rates could vary.
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