Binance Coin (BNB) is a growing, promising crypto token. However, you don’t have to visit the markets to make money off of it. The CoinDepo platform offers a safer way.
Binance is a global cryptocurrency exchange founded in 2017 to provide international users with a tool to store, sell, buy, and exchange cryptocurrencies on a peer-to-peer and institutional basis. The platform allows its customers to conduct operations with the most recognized volatile cryptocurrencies and stablecoins.
Binance operates its own volatile cryptocurrency, Binance Coin, or just BNB. The coin has high potential thanks to its impressive security and widespread popularity. Its attractive price is around $200 as of October 2023. Due to this feature, BNB’s investment opportunities are impressive. The coin is often used for staking, trading, arbitrage, etc.
In the absence of experience on crypto exchanges, you can use crypto savings accounts for BNB. This is probably the best way of earning money: get interest without participating. Luckily, CoinDepo offers Compound Interest Accounts for BNB cryptocurrency with an impressive annual percentage rate of up to 18% + compound interest. If you’re interested, let’s get to know this cryptocurrency and CoinDepo’s product.
BNB Cryptocurrency Overview
Binance Coin (BNB) is a digital asset that has achieved notable recognition and spreading in the realm of crypto coins. Released in the Summer of 2017, BNB was initially powered by the ERC-20 token of Ethereum’s blockchain network. The reason for its creation came about due to the huge growth of the platform and the need to organize transactions to pay for procedure fees.
As time progressed, the cryptocurrency transformed into a universal asset for operations within the Binance ecosystem, including the exchange, its Smart Chain (which eventually became one of BNB’s governing blockchain systems), and Binance Launchpad, dedicated to token launches and fundraising.
What can distinguish BNB from its counterparts in the crypto realm and how to earn interest on crypto? It is versatility & integration into Binance’s platform. Its native coins can be used to pay transaction fees with attractive discounts that cannot be found when paying with other digital assets. BNB has a dual-chain architecture, meaning that users can stake their coins on both Smart Chain and Binance Chain to gain rewards in the form of BNB or other currencies.
As Binance is the globe’s leading cryptocurrency exchange platform, the coin is definitely backed up by the market’s trust and its legitimacy. The Binance platform’s intuitive design, security, and stability further increase the coin’s demand. Additionally, they destroy some coins when there are too many of them to cut down supply and increase demand.
Due to these factors, the asset is widely used on third-party platforms for arbitrage, a practice of buying a currency in one market and selling it in another for a higher price. The coin is a popular guest of airdrops, when a company or individual gives away crypto as part of a contest, thus providing an opportunity to make money.
Some banks and players in the cryptocurrency industry provide a way to passively earn guaranteed interest by storing BNB coins in crypto savings accounts. The user’s crypto assets will be used for their own needs, but the entire amount will be compensated with interest. Sadly, these organizations may offer a low annual interest rate of no more than 10%.
CoinDepo offers a better solution – Compound Interest Accounts for your BNB coins at an interest rate of up to 18% APR + compound interest. Another percentage figure is 100% and it shows a level of guarantee & reliability of returns from your CoinDepo Compound Interest Account. Let’s check what this product is about & how to start a CoinDepo account.
Compound Interest Accounts from CoinDepo
CoinDepo is an innovative service that offers cryptocurrency custody, instant crypto lending without a collateral account, and Compound Interest Accounts for your volatile cryptocurrencies and stablecoins that earn interest for one of the six compounding periods: daily, weekly, monthly, three months, six months, and a year.
The interest earned via the company’s services can be withdrawn to your external wallet. The company’s partners include Fireblocks, the #1 Institutional digital asset custodian, Ledger, also a major player in this market, and most importantly, the Binance platform, whose cryptocurrency you can use for Compound Interest Accounts.
As fleetingly mentioned below, there are two main types of Compound Interest Accounts from CoinDepo: for volatile cryptocurrencies floating in value against fiat currencies and stablecoins, whose rates are pegged to national currencies or collaterals on their blockchain systems. The only difference is that accounts for volatile cryptocurrencies like BNB allow from 12% APR + compound interest and up to 18% APR + compound interest, while stablecoin accounts offer between 18% and 24% APR + compound interest.
You don’t have to be involved in earning interest on your Compound Interest Accounts, but you can keep an eye on the stats to see if it’s worth adding more, changing the compounding period, or withdrawing your funds. All these actions are available at any time, plus you are not obliged to hold your assets for the entire selected period.
Why Choose Crypto Savings Accounts from CoinDepo?
CoinDepo offers a wide array of benefits to all users who start their Compound Interest Accounts, whether top-notch investors and traders or down-to-earth users who also want to earn on crypto. Here are the prominent benefits:
- Earn BNB Passively. No involvement is needed to get funds from your Binance Coins, but you can check the dynamics of your profits via a monitoring service by CoinDepo.
- Guaranteed. Risk is not part of the deal when buying products from Coindepo. The service will not disappear with your BNB. All you might need to worry about is the coin’s price, which has shown itself to be quite stable for a long time.
- Diversify Your Assets. A non-involvement savings account that will accumulate crypto sounds great if you need to add some new source of income to your business strategy.
- Top-Notch Protection. CoinDepo added a lot of security measures to protect all deposits & withdrawals, including Email Confirmation Code, 2FA, security keys, encryption, and so on.
- Support Anytime. CoinDepo runs a 24/7 customer support service that will help with any technical issues.
So, how do you start earning compound interest on your BNB account at CoinDepo?
How to Start Earning on Compound Interest Accounts
The process is pretty simple and includes several easy steps:
- Register & Verify Identity on CoinDepo. To do the former, add your email and password; to do the latter and increase the deposit and withdrawal cap, add your ID documents, like a passport.
- Add BNB to your CoinDepo Crypto Wallet.
- Choose a Compounding Plan. Whether you need money quickly or are looking for long-term benefits, one of these plans will help you: daily, weekly, monthly, three-monthly, semi-annually, yearly.
- Wait & See. You can check your earning stats at any time using CoinDepo monitoring service.
- Withdraw Your Funds. You can do it anytime with no penalty.