Binance Lending is now adding ETC and LINK to its list of supported assets on Flexible Deposits, which is a value-added service to Binance users who hold idle digital assets.
ETC holds an individual limit of 1,00,000 ETC and LINK holds an individual limit of 1,00,000.
#Binance Lending Adds @eth_classic $ETC and @chainlink $LINK to Flexible Depositshttps://t.co/edrc6f1KMc pic.twitter.com/O37ymITEI4
— Binance (@binance) March 23, 2020
It is to be noted that Binance Lending will be adjusting interest rates and maximum individual limits on flexible deposits based on market and risk factors.
Earlier, Binance Lending had added ETH, BCH, and EOS to the list of assets that support Flexible Deposits. BCH, EOS, ETH had 1,000,000 individual max limits. In Binance US, you can also buy and trade cryptocurrencies. Binance US has added ETH, BCH & EOS.
Things You Need To Know About Flexible Deposit Lending
Lending is the financial product provided by Binance to its users to lend and earn interests. Users can lend their idle crypto assets to Binance Margin, and earn interests. Flexible Deposits are the crypto savings account.
The users can subscribe to their crypto to earn interest, with the resilience of recovering the funds at any time and convenience of daily interest and real-time funds credit.
Terms of Flexible Deposit Products
Based on the average annual return the APR uses the daily average interest rate from the past 7 days which is multiplied by 365. It can be considered as a reference to the daily interest which the user is entitled to, but not exactly the same as the actual interest.
On the other hand, based on the interest per thousand crypto assets are calculated based on the daily interest rate.
