Binance Launches New Simple Earn Offers with Up to 16.2% APR
Caroline Bishop Dec 04, 2024 09:02
Binance introduces new Simple Earn promotions, offering up to 16.2% APR on FDUSD Fixed Rate Locked Products and 7% on EURI Flexible Products. The promotion runs from Dec 4 to Dec 17, 2024.
Binance, a leading cryptocurrency exchange, has announced a new round of promotions under its Simple Earn program, which offers lucrative Annual Percentage Rate (APR) rewards for eligible users. According to Binance, users can earn up to 16.2% APR with FDUSD Fixed Rate Locked Products and 7% APR with EURI Flexible Products.
Promotion Details
The promotion period is set from December 4, 2024, to December 17, 2024. Interested users need to subscribe on a first-come, first-served basis. The rewards are distributed in two formats: Real-Time APR rewards are accumulated in users’ Earn Wallets every minute, while Bonus Tiered APR and Locked Product APR rewards are credited to users’ Spot Wallets daily.
How to Participate
To take part in these offers, users can buy FDUSD or EURI on the Binance Spot market or deposit these assets into their Binance accounts. They can then navigate to the Simple Earn section on Binance, search for FDUSD or EURI, and subscribe to the relevant products. FDUSD Locked Products offer a 16.2% APR over a 14-day period, while EURI Flexible Products provide a 7% Bonus Tiered APR.
Understanding Binance Simple Earn
Binance Simple Earn allows users to earn daily rewards by depositing digital assets for flexible or locked terms. This program provides users the flexibility to subscribe or redeem assets almost anytime, maintaining liquidity while earning rewards. The APR rewards are funded by Binance’s own reserves and are determined based on market conditions.
Additional Considerations
Users should be aware that changes to the Simple Earn Rewards Rate can occur and will be communicated on the Binance platform. Moreover, early redemption of locked assets is possible, but it will result in the forfeiture of all earned rewards, and assets may take up to 72 hours to return to users' wallets.
Binance has emphasized that the promotion is not affiliated with the issuers of FDUSD or EURI. The assets deposited in Simple Earn may be loaned to other Binance users, such as those using Margin and Crypto Loan products.
For those interested in maximizing their crypto holdings, this promotion offers an attractive opportunity to earn significant returns in a relatively short period. However, users are advised to review Binance’s terms and risk warnings before participating.
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