Do you know how to earn daily income in your Binance account by holding specific cryptocurrencies? This article will detail Binance's new feature—holding coins to earn interest.
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What is Binance's holding coins to earn interest?
Binance's holding coins to earn interest is a feature that allows users to automatically earn staking rewards by holding tokens in their spot account. It not only offers high flexibility but also allows you to trade, withdraw, or use related assets freely while earning rewards.
After completing the registration, you can follow these steps to find and enable this feature:
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Open the Binance app homepage and click the top 【More】 button.
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Select the 【Wealth Management】 option.
What is Binance's holding coins to earn interest? How to participate in Binance's holding coins to earn interest feature?
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In the dropdown menu, find "Holding Coins to Earn Interest."
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Once this feature is enabled, as long as your cryptocurrency is stored in the spot account, you do not need to transfer it to a savings or fixed-term financial product to earn daily income.
For example, if I hold SOL and ADA in my account, the system will calculate the earnings daily and distribute them automatically. As long as USDT is kept in the spot account, the system will automatically calculate the earnings.
These earnings come from the staking mechanism of the blockchain, and Binance returns a portion of the staking rewards to users.
Advantages of holding coins to earn interest
Flexible and convenient: No redemption process, assets have no lock-up period;
Trade or withdraw anytime: Funds can be used freely;
Daily distribution of earnings: Earnings are automatically credited to the spot account.
Frequently Asked Questions about holding coins to earn interest
What earnings can I obtain by participating in holding coins to earn interest?
By participating, you can earn rewards through the blockchain staking mechanism, usually distributed in the form of native tokens. Currently, only certain tokens are supported; specific information can be found on the holding coins to earn interest page.
How are earnings calculated and distributed?
Earnings are calculated based on the daily average holding amount of eligible tokens in your spot account. The system will start taking snapshots at 08:00 (Beijing time) the day after activation and calculate earnings based on this.
The first earnings will be distributed to the spot account between 08:00 and 16:00 the day after the snapshot, and thereafter daily distributions will occur. Due to network delays and other factors, there may be brief delays.
The daily earnings formula is:
Daily earnings = Staked amount * Annual Percentage Rate (APR) / 365 (retaining a few decimal places)
Please note that the Annual Percentage Rate (APR) will be adjusted based on market conditions to ensure stable and competitive earnings.
Where can I view my earnings?
You can view your current earnings and estimated Annual Percentage Rate (APR) on the holding coins to earn interest page, and you can also check detailed records in 【Wealth Management History】→【Holding Coins to Earn Interest】.
Is there a minimum or maximum holding limit for holding coins to earn interest?
Yes, there is a minimum holding requirement, and there is also a limit on the maximum holdings that can be included in the calculation; any excess will not be counted towards earnings. Relevant information can be found on the page.
Can I choose which tokens to participate in holding coins to earn interest?
No. Once the feature is enabled, all eligible tokens will automatically participate without the need for manual selection.
If I have open spot orders, can I still earn holding coins to earn interest?
No. Assets that are in a frozen state or in open orders cannot generate earnings; please refer to the relevant terms for details.
What is the difference between automatic subscription and holding coins to earn interest?
Holding coins to earn interest applies to certain designated tokens, and assets will not be locked, allowing for trading or withdrawal at any time.
Automatic subscription will automatically transfer available tokens in the spot account into a principal-protected earning product.
When both are enabled simultaneously, the system will prioritize allocating assets to automatic subscription. You can customize which tokens participate in automatic subscription in the settings.
Automatic Subscription (Earning Product) Holding Coins to Earn Interest
Position to view holdings Wealth Management Account Spot Account
Flexibility - Can be redeemed at any time
– May require submitting a redemption request
- Can be redeemed at any time
– No redemption process required
Source of earnings Multiple sources, mainly from lending income Earnings generated from on-chain staking mechanism
Earnings calculation method Earnings calculated based on the number of tokens subscribed to the principal-protected earning product After activation, the system takes multiple snapshots of holding data daily and calculates staking earnings based on average holdings
Do BNB assets participating in holding coins to earn interest count towards activities like Launchpool, HODLer airdrops, or Megadrop?
They do not count towards the above activities.
Are there any fees for participating in holding coins to earn interest?
No additional fees are required; earnings will be distributed daily based on the Annual Percentage Rate (APR) displayed on the page.
Why does the Annual Percentage Rate (APR) change?
The Annual Percentage Rate (APR) is adjusted daily based on market and other factors to maintain the stability and competitiveness of earnings.
This is the detailed content on what is Binance's holding coins to earn interest? How to participate in Binance's holding coins to earn interest feature?