Earn up to 15% interest on BNB, Tether, and Ethereum Classic on Binance

Binance announced the launch of a lending platform, offering up to 15 percent annualized interest rate for 14-day fixed-term BNB, USDT, and ETC …

Binance announced the launch of a lending platform, offering up to 15 percent annualized interest rate for 14-day fixed-term BNB, USDT, and ETC based instruments.

Crypto lending comes to Binance

Binance, one of the largest cryptocurrency exchanges in the world, officially announced the launch of its lending platform. According to the company’s Aug. 26 blog post, the platform will launch on Aug. 29 as a value-added service aimed at Binance users who hold “idle digital assets.”

The lending products will initially be available for subscription starting from 6:00 am UTC on August 28, 2019, to 12:00 am UTC on August 29, 2019, on a first-come, first-served basis. Only those with Binance “Level 2” verification or beyond are eligible to lend, meaning anonymous accounts cannot participate in the offering.

#Binance Will Launch Lending Platform: 14-Day Fixed Term $USDT, $BNB and $ETC Lending Products Available for Subscriptionhttps://t.co/i3LKCvhLUqpic.twitter.com/pxsBaXZnWu

— Binance (@binance) August 26, 2019

Binance Lending will enable users to lend their Tether (USDT), Ethereum Classic (ETC), and Binance Coin (BNB) holdings and earn interest. The company’s blog post stated that all of the lending products will have a 14-day fixed maturity term, with the interest rates for BNB, USDT, and ETC set at 15, 10, and 7 percent, respectively.

Binance diversifying its offer

The exchange set a total subscription cap at 5 million USDT, 200,000 BNB, and 20,000 ETC. According to the blog post, if all of the products get fully subscribed, total interest of 19,178 USDT, 1,150 BNB, and 53 ETC would be paid out.

The interest rates Binance would pay for those products would be 1,150 BNB, 19,178 USDT, and 53 ETC, it said in the blog post, all of which are currently worth around $50,000. To limit the supply, all user accounts will have a hard cap set for all of the products—1 million USDT, 500 BNB, and 1,000 ETC.

Changpeng Zhao, the CEO of Binance, said that the interest rate for each product is guaranteed. “Your crypto balance will always grow, regardless of how the market moves,” he added.

Yet, this raises the question as to why Binance would offer practically free money to users. Whether this is a marketing play or a profitable lending business is still unclear.

The company said more Binance Lending products will be released soon once the company evaluates the demand for new coins and tokens. However, there is a possibility that the interest rates will change as new tokens are added. Binance’s blog post stated that the interest rates for all of the upcoming phases will be adjusted “based on market reception of the initial phase,” leaving the door open for an increase (or decrease) in rates.

Binance Coin |BNB

Updated: Aug 26 at 8:06 pm PDT

$25.23

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Binance Coin, currently ranked #7 by market cap, is down 4.44% over the past 24 hours. BNB has a market cap of $3.92B with a 24 hour volume of $282.23M.

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Binance Coin is down 4.44% over the past 24 hours.

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Filed Under: Altcoins, Binance, Crypto Exchanges, Price Watch

Priyeshu GargPriyeshu Garg

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in Computer Science Engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving the transportation problems at his company, he can be found writing about the blockchain or roller skating with his friends.

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Binance Adds Lending for Binance Coin (BNB), Ethereum Classic (ETC) and Tether (USDT)

According to the recent announcement, Binance investors will be able to earn passive income with 15% annual interest rates for BNB, 7% for ETC, …
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Binance, the world’s largest crypto exchange, announced Monday that it has added a lending platform with 14-day fixed-term products for Binance Coin (BNB), Ethereum Classic (ETC) and Tether (USDT).

#Binance Will Launch Lending Platform: 14-Day Fixed Term $USDT, $BNB and $ETC Lending Products Available for Subscriptionhttps://t.co/i3LKCvhLUqpic.twitter.com/pxsBaXZnWu

— Binance (@binance) August 26, 2019

According to the recent announcement, Binance investors will be able to earn passive income with 15% annual interest rates for BNB, 7% for ETC, and 10% for USDT.

The designated hard cap per account for BNB, ETC and USDT-denominated lending products will be initially set at 500 BNB, 20,000 ETC, and 1,000,000 USDT respectively.

(Binance)

“Binance Lending is simple and intuitive to use. Users can subscribe to any lending product and earn interest, it’s as easy as that,” said Binance CEO Changpeng Zhao. “The interest rate for each product is guaranteed, so your crypto balance will always grow, regardless of how the market moves.”

Binance isn’t the first major exchange to launch a lending product. Last December, Hong Kong-based OKEx launched its OK PiggyBank functionality, which allows users to lend their crypto holdings to margin traders to earn daily interest. KuCoin also offers daily interest for holding its exchange token, KuCoin Shares.

More: Binance Will Launch Lending Platform: 14-Day Fixed Term USDT, BNB and ETC Lending Products Available for Subscription

Similar: OKEx Now Lets Users Earn Daily Interest by Lending Their Crypto


Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

BNBUSD Rates by TradingView

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Here’s What You Need to Know About Binance’s Next IEO, Perlin

Perlin’s ultra-accessibility is all tied into its smart contract platform. Currently, WebAssembly (WASM) is easily supported by all web browsers, including …

Binance’s next IEO, Perlin (PERL), will go live in 3 days. Here’s what you need to know about this new launch.

From Harmony to Matic, Binance’s IEO has been a kickstarter for many promising cryptocurrencies this year. Participation is dependent on BNB holdings and, almost always, the demand exceeds expectations.

Just over 3⃣ days remain until the ticket 🎟️claim period for the @PerlinNetwork$PERL token sale on #Binance Launchpad opens.

Check your eligibility & average $BNB holdings here:

👇👇👇👇https://t.co/TKGN49fMMJpic.twitter.com/73HIjKPTE1

— Binance (@binance) August 21, 2019

With Binance’s new IEO right around the corner, many are wondering: what’s Perlin? Here’s what you need to know.

What Is Perlin?

Perlin is a permissionless proof-of-stake system which currently boasts 31,000 transactions per second and 0 to 4-second finality. The team claims that it is the “world’s fastest ledger” with “easy-to-use WebAssembly smart contracts.” The ultimate goal is to have Perlin power decentralized applications for what will be the ‘Web 3.0.’

Perlin’s ultra-accessibility is all tied into its smart contract platform. Currently, WebAssembly (WASM) is easily supported by all web browsers, including Firefox, Chrome, Internet Explorer, and Safari. WASM is supported in many coding languages, including Rust, C/C++, Java, Python, Elixir, and more. The WASM smart contracts are made possible by Perlin’s ‘Wavelet Ledger’ which is both decentralized and scalable.

If you want to support BeInCrypto and trade on one of the world’s largest cryptocurrency exchanges, sign up for a free account at Binance!

Perlin operates on a DAG consensus model which takes inspiration from Avalanche, a protocol developed by Cornell University professor Emin Gun Sirer. Noted code reviewer Andre Cronje has said that Perlin’s code thus far is “terrifyingly good” and is a “new paradigm.” He’s usually known for having especially harsh reviews, but this one seemed out of the ordinary.

Wavelet is set to be in association with 40,000 companies, 150+ countries, 120 institutional investors, and has access to 4M+ nodes according to the Perlin site.

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Binance Seeing High Demand

With Perlin bringing in much hype, demand for the IEO could be the highest we have seen in months. There are only a select number of spots open, and you can check your eligibility and position based on your BNB holdings on the Binance Launchpad itself.

It remains to be seen whether Perlin can live up to the high expectations it has set for itself. The project is currently fully operational on MainNet as of this summer, but the tokens will, of course, be on Binance Chain until token swap. So, we still have to wait and see if the tech will meet expectations.

Just recently, the Binance research team discovered a dusting attack on Litecoin’s network.

Do you plan to participate in the Perlin IEO? Let us know your thoughts in the comments down below.

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There is No Place for Binance IEOs on Binance US Yet

(Meanwhile, competing major American exchange Coinbase is considering the addition of new assets, including Harmony and Matic, both of which …
There is No Place for Binance IEOs on Binance US Yet 101
Source: Instagram, Binance

While Binance US, the American branch of major cryptocurrency exchange Binance, included four stablecoins among its 30 potential candidates to be listed on this upcoming platform, no Binance IEOs (initial exchange offerings) are on the list.

Hyped projects such as BitTorrent (47th by market capitalization), Fetch.AI (207), Celer (180) and Matic Network (127), that raised capital on the Binance Launchpad platform, have been left outside of the list alongside with many other coins, including Tron (13th by market capitalization).

(Meanwhile, competing major American exchange Coinbase is considering the addition of new assets, including Harmony and Matic, both of which offered tokens to the public via the Binance Launchpad.)

Binance US said that among other things (unspecified), they examined five areas of each candidate asset:

  1. “Whether trading the candidate asset will affect Binance U.S.’s ability to comply with applicable legal requirements, including, without limitation, U.S. AML/CFT and securities laws and their implementing regulations;
  2. Whether the candidate asset’s core team has a clear strategy to solve a real problem and make the world a more efficient place;
  3. Whether the candidate asset’s community has a record of reaching compromises and consensuses to move the project forward, and how well the asset’s core team interacts with the asset’s community members;
  4. Whether the candidate asset’s market supply and demand are reasonably fair and likely to meet Binance US’s quantitative standards; and
  5. Whether the candidate asset is technologically secure to transact and/or realistic to build.”

Meanwhile, many concerned Tron holders have voiced their frustration publicly, stressing that Tron needs a trading venue where U.S. citizens are allowed to participate, and that this must happen very soon.

1xBit

Justin Sun, founder of Tron and CEO of Bittorrent, responded to these concerns without promising anything more specific that this: “We should have more U.S. based exchanges for sure. Let me work on that. We promise within 2019 the community will see huge progress on that.”

Binance’s own token, Binance Coin (BNB), is also among the assets currently being explored for listing. Binance CEO Changpeng Zhao earlier said that they “don’t know” if BNB will be listed in the U.S.

Meanwhile, experts have recently argued that the BNB token is likely to become problematic for Binance as it establishes itself in America, because “it is both a security and a utility token and as such passes the Howey test for being a security irrespective of its utility properties.”

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However, it’s still not clear, when the final list of the coins available on Binance US will be revealed. The new platform is estimated to be launched in the coming months. In either case, current American users of Binance.com, the main trading platform of Binance, will not be able to use this platform starting September 12.

Binance US, which is operated by the U.S.-registered company BAM Trading Services, was not available for immediate comment.

In an update from the Binance US CEO Catherine Coley, the exchange revealed that it is considering to list these 30 crypto assets:

There is No Place for Binance IEOs on Binance US Yet 102
Source: coinpaprika.com, Binance US, 13:30 UTC

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Binance Coin price analysis: BNB price consolidating below $30

While Bitcoin Cash saw a hell of a day on the other hand when the currency hit the lowest and highest point of two weeks on the same day.

The consolidation is evident in the Binance Coin price analysis charts since the currency is stagnant at twenty-nine dollars ($29) moving in the small margin of one.

The ERC 20 token backed by one of the largest cryptocurrency exchanges in the world Binance the cryptocurrency has been performing well since inception.

Binance Coin price analysis: BNB price consolidating below $30 2Binance coin price chart by Trading View

As evident in the chart, the price is jumping by 0.1 to 0.4, however, it is unable to break past the key resistance point at thirty ($30).

Binance Coin price analysis prediction

A consolidation period seems to be afoot Binance Coin’s future. Binance Coin (BNB) left its daily trend behind on August 8 but the fifty days (50) moving average (MA) was still not crossed by BNB; hence, it stayed in the red zone.

The twenty (20) day exponential moving average (EMA); bullish- along with the relative strength index (RSI) stationed at the 50 point mark, have nothing but consolidation in store for the cryptocurrency.

Binance Coin price analysis: BNB price consolidating below $30 3Binance Coin price chart by Trading View

The consolidation region will be enclosed between twenty-four ($24.1709) dollars and on the higher side, at thirty-two ($32.50) dollars.

If things go bullish, after the consolidation period ends, then BNB price can be expected to receive support on the eighteen dollar mark ($18.30). Previous analysis dictates that BNB will be on an all-time high after it breaks off from the consolidation.

While Bitcoin Cash saw a hell of a day on the other hand when the currency hit the lowest and highest point of two weeks on the same day.

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