What is BUSD
Binance USD (BUSD) is a stable coin pegged to the United States Dollar ($) that has received approval from the New York State Department of Financial Services (NYDFS). So for every BUSD in circulation, 1 USD is stacked away.
What is Binance Lending?
Think of Binance Lending as a platform where you lend your assets ( In this case BUSD) to Binance and earn interest over time. There are two types of Lending:
1. Flexible Lending
Here you can lend to Binance and opt out whenever you feel like. This gives you flexibility but does not offer as many returns as fixed lending.
2. Fixed Lending
Just like the name suggests, when you subscribe to this, your assets (Funds) will not be accessible over a specific period of time. Think of this as you would a fixed deposit account. Fixed lending offers greater interest.
How do I subscribe and earn interest?
Step 1: Convert your fiat money into BUSD
- Sign into Binance. Register here if you have no account (10% discount on trading fees 😉😉)
- Select Buy Crypto at the top and choose USD, and enter the amount you want to convert. Follow the Prompts.
Step 2: Subscribe to the lending product
Select Earn and then Lending. At this point you will see all our lending products. Subscribe to what suits you and start earning interest.
If you have additional questions, please see our FAQ
- Binance Team
