Bitcoin Forum

Hey Guys!

Do anybody here lucky enough to invest on Binance lending 6% interest in USDT? I waited on this event but its already full after few minutes when it opens.

Yes, it is filled up within few minutes but anyone can lend other option too. Besides lending, there are few coins which are offering staking facilities. I am doing staking of TRX, ONE, and other coins. I think Binance is giving a huge chance of income for its members. I really appreciate this type service specially staking.

Seems there is very high demand for this USDT lending by lenders and borrowers.  Op should probably follow it closely for the next opportunity.

Wonder how safe is staking on the exchange staking facility. I personally do not think staking on exchange is a good idea. I guess most people will eventually choose the staking approach rather than running things themselves.

I thought I was the only one who was unlucky yesterday, but apparently not. I assume they will reopen the program in the March-April 2020 period with more coin options after completing the redemption of the previous deadline.

The flexible deposits option is still open and not yet full, but the number of applicants is far less than a fixed deposits.

Perhaps you made a little mistake here, lending rates on Binance are calculated by year not by month, it should be 6% per year.

Good point, but he is probably referring to the fixed lending packages that Binance is offering in which you lock up your funds for 1 month if I remember well. The interest is per annum, but the lending period is 1 month.

Perhaps you should check it first personally before you post comment like that here. It's seems that you didn't even visit binance lending section. They are different timeframe on lending section in binance not only 1 year besides that, I never saw one year time frame there. Do you really it?  ::)


This is how binance lending section looks like.
https://i.imgur.com/YwHsjqS.jpg

I have been invested in this for around a month now, getting some decent gains. However, you need to have hundreds of thousands invested to see any impressive interest.

Currently, I'm earning around $0.50 per day on around $6,000 I believe.

Binance lending products definitely get a thumbs up from me. I just wish they had a TUSD or USDC option too!

Edit: Just found out I'm on the 2.77% annual yield plan, damn it.

It was filled pretty quickly and it is not the first and not the last time, when Binance is doing such lending. But they have already decreased profit percentage, because few months ago, this period was 14 days and they shared 10 percent.

Was that the plan they have before this 6% came out? For a month, you'll be getting $15 with $6,000 which I think seems low but this feature is giving a legit income interest.

$100 is the minimum for USDT lending? and after a month, it's the due then they'll reopen slots? is that correct?

Hmmm, 6% monthly is a huge money which is not feasible. Otherwise everyone can just put their money and go to sleep. It should be yearly which is understandable.  What happens when exchange gets hacked, are the loans backed up by anything!

If you are looking for lending why not to try another lending platform like Nexo?
Nexo offers even higher interest, upto 8% on all stable coins. Never heard about the platform? It is probably the biggest crypto lending platform with more than 300 000 active users! So why are you waiting for limited slots on Binance?  ::) :D

I agree 100% NEXO is really good, it may not give 65 a month but it gives 8% APR annual interest accrued daily n your NEXO wallet when you hold stablecoins, so if you compound also that interest, it works out to eve more. This is much better than holding FIAT in the bank and that devalues yearly because of inflation and also you have the very low interest you get in the bank. In Nexo even if you have small amounts you get that high interest, which is great because it caters to both small and big fish alike and doesn't discriminate as the Banks do, who only care about themselves and the big customers they cater for. We need to look t ways of hedging our more volatile crypto assets, with some stablecoins that at least earn us something while we have some of our assets parked in them. Every penny we own must work for us in one way or another.

Earnings are monthly, check out the link below. However, I have no idea about the lost funds, but mostly big exchanges like Binance pay back the stolen money from the cold wallet.


If you are talking about this, it is annual investment, but Binance's offer is a monthly gain of 6%. For more: https://www.binance.com/en/lending

The problem is if staking offers less than lending. The total tokens and coins matters a lot in this case. how much we will receive based on how much total tokens in our wallet.



It's stafe and really simple because you don't need to do a lot of things and just hold your tokens in the exchange site's wallet. i guess you will receive your annual yield from the staking process

Staking on a exchange is not considered safe as you do not have access to your Private key. What you can do is download Atomic wallet and stake the same number of coins that Binance is offering with the access to your Private key.

there are lots of traders and majority of them are already in huge losses thanks to months and months of altcoin dumps so they are jumping at any opportunity to make any small amount of profit. 6% is big so you can imagine how they rush to give their money hoping for profit.

I do hope they also facilitate staking and lending on their own coin so it can increase the price of BNB by more. Aside from participating on launchpad, they can offer staking for bnb so users can maximize it's benefit while holding. What do you think? It's hard to join lending cause its easily been filled up.

Like other Binance events, it is hard to participate in it like IEO and like it. Because of the hype, it's a great market Binance and many people are enthusiastic about using it. So it's reasonable in a few minutes we run out of slots to follow each event.

It is all about putting your money to work here. It is good that we are having several ways of making money in crypto rather than the usual ways and that is making crypto to become more interesting by the day. I hope other exchanges can as well do something for their community.

Exactly. 6% monthly is not going to work. How will they invest the money to make it back? This is just a promotion. They not going to have it open forever. This is also why there is a limited amount of people that can invest.
6% a year would be sustainable though I would not be happy without legal protection. The next day the place you invested is not there any more and there is nothing you can do about it.

Must need trust for that, binance also has a reputation that cannot be underestimated just because of hacking. The 6% program has ended for new subscribers. I look at the history of their success with 6%, even running for 14 days in the previous event, it's natural that many are waiting for the same event to reopen.

If you guys have spare amount then why go with the lending especially with a 6% interest rate, it's quite big for me though. I mean it's hard to loan a money as you wouldn't know what could possibly happen next to your trading. Just stick on what you knew you could earn and trade with your means.

The risk of this loan is very high. Without full confidence, I will not start the loan of digital tokens. I always use my spare money to buy cryptocurrencies.

risk ? you mean the interest rate rather  . i feel that 6 percent interest rate per month is already way too much but not really far from other greedy lenders that i know but i guess that is how lending company/business works .  this is why i dont ever try to lend on a lending company or a lending platform  online but i rather prefer borrowing money directly to the people that i know  because i can negotiate the interest and my repayment if delay  . and thats also what you do , you are also a wise guy like me  .