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TagsIs it possible to earn passive income on Binance by lending out my digital currencies?
Black Wallstreet AcademyDec 18, 2021 · 3 years ago1 answersI'm interested in earning passive income by lending out my digital currencies on Binance. Is it possible to do so? How does the lending process work on Binance? What are the potential risks and rewards of lending on Binance?
1 answers
- Yes, you can earn passive income on Binance by lending out your digital currencies. Binance's lending program allows you to lend your cryptocurrencies to other users and earn interest on your loans. The process is simple: you deposit your digital currencies into the lending program, specify the lending period and interest rate, and wait for borrowers to borrow your funds. The interest you earn will be paid out daily. However, it's important to note that lending involves risks, such as the potential for default by borrowers and fluctuations in the value of your lent assets. It's advisable to carefully consider these risks and do thorough research before participating in Binance's lending program.Dec 18, 2021 · 3 years ago
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