May 2022 guide to Binance crypto products
B
inance is a cryptocurrency and financial services company that offers trading, earning and borrowing products. The company is headquartered in the Cayman Islands and was founded in 2017.
In this guide:
Disclaimer: All of the information written on Coin Crop is without influence and based on our analysis. No guarantee is offered concerning the accuracy of this information and therefore, any individual following up on it does as such completely at their own risk. Rates are correct at time of publication.
What is Binance?
Binance has become the worlds fastest-growing major financial exchange. It’s growth has been rapid starting just five years ago. Its size is now so significant that it trades the equivalent of the London, Hong Kong and New York stock exchanges combined.
In November 2021, it was reported the company was trading $76 billion of cryptocurrencies each day.
Broadly, the services offered by Binance are as follows:
- Buying cryptocurrencies with fiat money
- Trading (spot, margin etc.)
- Derivatives
- Earning products
- Finance services
- NFTs
What is the history of Binance?
The Binance history can be chronicled as follows:
-Founded September 2017 by Changpeng Zhao
- $BNB token (Binance Coin) launched 2017
- 2017 $7.5 million Net income
- 2017 1.5 million users
- January 2018 it was announced as the largest crypto exchange.
- February 2018 facilitating more than 1.4 million transactions per second
- August 2018, Binance along with three other big exchanges raised $32 million for a stablecoin project.
- 2018 $850 million Net income
- 2018 13.3 million users
- 2019 Binance Chain addresses 332,444
- 2019 $570 million Net income
- 2019 16.5 million users
- 2020 $6 billion in total order volumes
- 2020 $900 million Net income
- 2020 $5.5 billion revenue
- 2020 21.5 million users
- 2021 $20 billion revenue
- 2021 28.6 million users
How much can I earn?
Binance offers both flexible and fixed term saving products. The following table shows rates you can earn for flexible term deposits:
| Deposit assets | Reward assets | APY Rate |
|---|---|---|
 Axie Infinity (AXS) | Axie Infinity (AXS) | 20.0%Flexible |
 PancakeSwap (CAKE) | PancakeSwap (CAKE) | 12.0%Flexible |
 Binance USD (BUSD) | Binance USD (BUSD) | 10.0%Flexible |
 Tether (USDT) | Tether (USDT) | 10.0%Flexible |
 Waves (WAVES) | Waves (WAVES) | 10.0%Flexible |
 APEcoin (APE) | APEcoin (APE) | 8.00%Flexible |
 Gambit (GMT) | Gambit (GMT) | 7.29%Flexible |
 Polygon (MATIC) | Polygon (MATIC) | 6.00%Flexible |
 Bitcoin (BTC) | Bitcoin (BTC) | 5.00%Flexible |
 Chiliz (CHZ) | Chiliz (CHZ) | 5.00%Flexible |
 Curve DAO Token (CRV) | Curve DAO Token (CRV) | 5.00%Flexible |
 Bnx Finex (BNX) | Bnx Finex (BNX) | 5.00%Flexible |
 The Sandbox (SAND) | The Sandbox (SAND) | 5.00%Flexible |
 Terra (LUNA) | Terra (LUNA) | 5.00%Flexible |
![Deposit Drep [new]](https://d3lduyh26xckm1.cloudfront.net/assets/assets_64/drep.png) Drep [new] (DREP) | Drep [new] (DREP) | 5.00%Flexible |
 Horizen (ZEN) | Horizen (ZEN) | 5.00%Flexible |
 Mobox (MBOX) | Mobox (MBOX) | 5.00%Flexible |
 Qtum (QTUM) | Qtum (QTUM) | 5.00%Flexible |
 Kyber Network (KNC) | Kyber Network (KNC) | 5.00%Flexible |
 0x (ZRX) | 0x (ZRX) | 5.00%Flexible |
The following shows rates that can be earned from fixed term saving products:
| Deposit assets | Reward assets | APY Rate |
|---|---|---|
Axie Infinity (AXS) | Axie Infinity (AXS) | 70.0%Fixed (15 days) |
PancakeSwap (CAKE) | PancakeSwap (CAKE) | 50.0%Fixed (15 days) |
 FUNToken (FUN) | FUNToken (FUN) | 45.0%Fixed (14 days) |
 JasmyCoin (JASMY) | JasmyCoin (JASMY) | 35.0%Fixed (60 days) |
Drep [new] (DREP) | Drep [new] (DREP) | 35.0%Fixed (30 days) |
 MDX (MDX) | MDX (MDX) | 25.0%Fixed (15 days) |
 Dock (DOCK) | Dock (DOCK) | 25.0%Fixed (15 days) |
PancakeSwap (CAKE) | PancakeSwap (CAKE) | 25.0%Fixed (7 days) |
Axie Infinity (AXS) | Axie Infinity (AXS) | 25.0%Fixed (7 days) |
JasmyCoin (JASMY) | JasmyCoin (JASMY) | 25.0%Fixed (90 days) |
JasmyCoin (JASMY) | JasmyCoin (JASMY) | 20.0%Fixed (30 days) |
FUNToken (FUN) | FUNToken (FUN) | 20.0%Fixed (7 days) |
 COCOS BCX (COCOS) | COCOS BCX (COCOS) | 20.0%Fixed (15 days) |
Drep [new] (DREP) | Drep [new] (DREP) | 20.0%Fixed (15 days) |
FUNToken (FUN) | FUNToken (FUN) | 15.0%Fixed (60 days) |
 Elrond (EGLD) | Elrond (EGLD) | 15.0%Fixed (15 days) |
FUNToken (FUN) | FUNToken (FUN) | 10.0%Fixed (30 days) |
Terra (LUNA) | Terra (LUNA) | 10.0%Fixed (7 days) |
The Sandbox (SAND) | The Sandbox (SAND) | 10.0%Fixed (7 days) |
Tether (USDT) | Tether (USDT) | 9.00%Fixed (60 days) |
Can I borrow from Binance?
You have two option, #Binance Loans or #Binance Margins. Binance Loans platform allows you to borrow USDT or BUSD by securing a collateral amount of crypto within your account.
Binance Margin allows you access greater sums of capital by getting additional funds from a third-party provider, currently there are 69 borrowable cryptocurrencies on Binance Margin.
How do I use Binance?
There are three ways that the Binance services can be used:
- Android application
- Apple iOS application
- Web site
How is customer support provided?
Customer support is provided as follows:
- Live support 24/7 – 365
- Requests submitted through the web site
Are there any referral or affiliate programs?
Binance operates a comprehensive referral program:
- Set how much referral commission to share with your friends
- Earn up to 40% commission when friends start trading
For commercial partners, an affiliate program offers the following commissions:
- Up to 50% on spot
- 30% on futures
- 30% on Binance pool
- 20% on NFTs
- 15% on liquid swap
Binance FAQs
Chris
An editor at CoincropChris is a Crop Crop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely assembling lego models.
