May 2022 guide to Binance crypto products

May 2022 guide to Binance crypto products

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Chris
Chris

An editor at Coincrop


05 May 2022 | 6 min read
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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

The Binance founder

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 assetsReward assetsAPY Rate
Deposit Axie Infinity

Axie Infinity (AXS)

Earn Axie Infinity

Axie Infinity (AXS)

20.0%

Flexible

Deposit PancakeSwap

PancakeSwap (CAKE)

Earn PancakeSwap

PancakeSwap (CAKE)

12.0%

Flexible

Deposit Binance USD

Binance USD (BUSD)

Earn Binance USD

Binance USD (BUSD)

10.0%

Flexible

Deposit Tether

Tether (USDT)

Earn Tether

Tether (USDT)

10.0%

Flexible

Deposit Waves

Waves (WAVES)

Earn Waves

Waves (WAVES)

10.0%

Flexible

Deposit APEcoin

APEcoin (APE)

Earn APEcoin

APEcoin (APE)

8.00%

Flexible

Deposit Gambit

Gambit (GMT)

Earn Gambit

Gambit (GMT)

7.29%

Flexible

Deposit Polygon

Polygon (MATIC)

Earn Polygon

Polygon (MATIC)

6.00%

Flexible

Deposit Bitcoin

Bitcoin (BTC)

Earn Bitcoin

Bitcoin (BTC)

5.00%

Flexible

Deposit Chiliz

Chiliz (CHZ)

Earn Chiliz

Chiliz (CHZ)

5.00%

Flexible

Deposit Curve DAO Token

Curve DAO Token (CRV)

Earn Curve DAO Token

Curve DAO Token (CRV)

5.00%

Flexible

Deposit Bnx Finex

Bnx Finex (BNX)

Earn Bnx Finex

Bnx Finex (BNX)

5.00%

Flexible

Deposit The Sandbox

The Sandbox (SAND)

Earn The Sandbox

The Sandbox (SAND)

5.00%

Flexible

Deposit Terra

Terra (LUNA)

Earn Terra

Terra (LUNA)

5.00%

Flexible

Deposit Drep [new]

Drep [new] (DREP)

Earn Drep [new]

Drep [new] (DREP)

5.00%

Flexible

Deposit Horizen

Horizen (ZEN)

Earn Horizen

Horizen (ZEN)

5.00%

Flexible

Deposit Mobox

Mobox (MBOX)

Earn Mobox

Mobox (MBOX)

5.00%

Flexible

Deposit Qtum

Qtum (QTUM)

Earn Qtum

Qtum (QTUM)

5.00%

Flexible

Deposit Kyber Network

Kyber Network (KNC)

Earn Kyber Network

Kyber Network (KNC)

5.00%

Flexible

Deposit 0x

0x (ZRX)

Earn 0x

0x (ZRX)

5.00%

Flexible

The following shows rates that can be earned from fixed term saving products:

Deposit assetsReward assetsAPY Rate
Deposit Axie Infinity

Axie Infinity (AXS)

Earn Axie Infinity

Axie Infinity (AXS)

70.0%

Fixed (15 days)

Deposit PancakeSwap

PancakeSwap (CAKE)

Earn PancakeSwap

PancakeSwap (CAKE)

50.0%

Fixed (15 days)

Deposit FUNToken

FUNToken (FUN)

Earn FUNToken

FUNToken (FUN)

45.0%

Fixed (14 days)

Deposit JasmyCoin

JasmyCoin (JASMY)

Earn JasmyCoin

JasmyCoin (JASMY)

35.0%

Fixed (60 days)

Deposit Drep [new]

Drep [new] (DREP)

Earn Drep [new]

Drep [new] (DREP)

35.0%

Fixed (30 days)

Deposit MDX

MDX (MDX)

Earn MDX

MDX (MDX)

25.0%

Fixed (15 days)

Deposit Dock

Dock (DOCK)

Earn Dock

Dock (DOCK)

25.0%

Fixed (15 days)

Deposit PancakeSwap

PancakeSwap (CAKE)

Earn PancakeSwap

PancakeSwap (CAKE)

25.0%

Fixed (7 days)

Deposit Axie Infinity

Axie Infinity (AXS)

Earn Axie Infinity

Axie Infinity (AXS)

25.0%

Fixed (7 days)

Deposit JasmyCoin

JasmyCoin (JASMY)

Earn JasmyCoin

JasmyCoin (JASMY)

25.0%

Fixed (90 days)

Deposit JasmyCoin

JasmyCoin (JASMY)

Earn JasmyCoin

JasmyCoin (JASMY)

20.0%

Fixed (30 days)

Deposit FUNToken

FUNToken (FUN)

Earn FUNToken

FUNToken (FUN)

20.0%

Fixed (7 days)

Deposit COCOS BCX

COCOS BCX (COCOS)

Earn COCOS BCX

COCOS BCX (COCOS)

20.0%

Fixed (15 days)

Deposit Drep [new]

Drep [new] (DREP)

Earn Drep [new]

Drep [new] (DREP)

20.0%

Fixed (15 days)

Deposit FUNToken

FUNToken (FUN)

Earn FUNToken

FUNToken (FUN)

15.0%

Fixed (60 days)

Deposit Elrond

Elrond (EGLD)

Earn Elrond

Elrond (EGLD)

15.0%

Fixed (15 days)

Deposit FUNToken

FUNToken (FUN)

Earn FUNToken

FUNToken (FUN)

10.0%

Fixed (30 days)

Deposit Terra

Terra (LUNA)

Earn Terra

Terra (LUNA)

10.0%

Fixed (7 days)

Deposit The Sandbox

The Sandbox (SAND)

Earn The Sandbox

The Sandbox (SAND)

10.0%

Fixed (7 days)

Deposit Tether

Tether (USDT)

Earn Tether

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

The Binance 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

Binance is headquartered in the Cayman Islands

Yes. A network fee is charged for withdrawing digital assets.

Acceptable forms of identification include driver’s license, government issued ID or passport.

Interest on earnings is paid in the native currency.

Binance supports a variety of methods in multiple territories for funding cryptocurrency purchases.

 


Chris

Chris

An editor at Coincrop
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Chris 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.


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