Guide to Using Binance Earn for Beginners

When starting to trade and invest in cryptocurrencies, people usually begin with Spot Trading. This is one of the simplest ways to buy and sell financial assets. However, many people feel unsure about what to do with their idle digital assets. Therefore, passive investing can be a good option – and Binance Earn is the amazing platform to get started. In this article, we will cover the basics of passive investing, the potential benefits and limitations. We will also go over a quick guide on how to start earning money from your digital assets with Binance Earn. What is Passive Investment? Passive investing is a way to earn profits without putting in too much effort. This means investing money in things like stocks or digital assets and letting it grow over time. You don't need to constantly check or make multiple buy and sell transactions. This approach has become popular not only in traditional markets but also in the field of encryption. With a passive investment approach, holders of cryptocurrency can earn a steady income from digital assets without the need to trade frequently. In the cryptocurrency space, you can generate passive income through various methods. Each method comes with its own risks and benefits. Some common examples include staking, yield farming, lending, and borrowing. Advantages of Passive Investment Receive rewards: Users can earn rewards and increase their digital assets through passive investment methods, regardless of market fluctuations. Consistency: Passive investing typically follows a pre-established investment strategy, allowing investors to maintain a consistent approach over time without needing frequent adjustments or market timing. Time efficiency: Passive investing requires less time and effort compared to active trading. Therefore, this method is suitable for investors who prefer a simple approach that does not require much effort to manage their portfolios. Limitations of Passive Investment Market risk: Passive investing differs from active management - which has the ability to respond to changing market conditions. Therefore, investors are more susceptible to market downturns or prolonged periods of underperformance. Limited flexibility: Depending on the chosen strategy or product, investors may not have quick access to their assets. Market concentration: Some passive investment methods may concentrate heavily on a few assets or large-cap sectors, increasing susceptibility to risks or market downturns affecting those sectors. What is Binance Earn? Binance Earn is an amazing place for users to earn passive income from holding digital assets. This platform offers a variety of products to meet the needs of different investors, from beginners to seasoned users. Binance Earn provides users with 2 ways to increase income: Simple and Advanced. You can choose to invest in digital assets to earn predictable profits or opt for higher returns than the average but with corresponding risks to the principal amount you invest. Simple Earn offers Flexible Products, Fixed Products, ETH Staking, SOL Staking, and Soft Staking. Similar to depositing money in a bank, you can deposit cryptocurrency and receive passive rewards. Advanced Earn includes Dual Investment, Dual Investment RFQ, Smart Arbitrage Trading, and On-chain Yield. These products allow you to leverage market insights by applying various financial strategies. How to Start Using Binance Earn?

1. Log in to your Binance account and then find [Earn] in the top menu.

2. You will be redirected to the Binance Earn interface. Here, you can view the available products such as Simple Earn, Advanced Earn, and Loan. On this page, you will find a summary of the digital assets you hold and an estimate of your profits on the last day.

3. Scroll down to find the list of available products. Here, you can view various digital assets along with their APR and estimated time. You can also use the search function or filters to look for specific assets.

4. To start earning money from your assets, you need to choose a product and register. Add the amount you want to use, read the summary, and click Confirm when you are ready. You can view the Product Regulation tab at the top for more details about each product.

5. The Flexible product allows you to withdraw funds at any time. The Fixed product will require you to lock funds for a certain period. Below is an example of a Fixed term product with different locking periods.

How to Start ETH Staking on Binance?

1. Open the Simple Earn section on Binance. You will see various staking options such as ETH, SOL, and Soft Staking. Click on [ETH Staking] to get started.

2. When you enter the ETH Staking page, you will see information such as the reference APR, Conversion Rate, and Total ETH staked. This information gives you an overview of the potential rewards and the current state of the staking pool.

3. To start staking, click on [Register] and enter the amount of ETH you want to stake. In return, you will receive WBETH (Wrapped Beacon ETH)—a token representing the staked ETH along with rewards. Read and agree to the terms, then click on [Continue]. You can view the Product Regulations tab at the top for more details on each product.

. WBETH allows you to continue earning staking rewards while still using the staked ETH. Unlike traditional staking that locks your ETH, WBETH can be traded and transferred. You can sell, transfer to your personal wallet, or even use it on DeFi platforms outside of Binance while still receiving staking rewards. 5. If you want to retrieve ETH, go to [ETH Staking] and then click on [Withdraw]. Enter the amount of ETH you want to withdraw from your BETH or WBETH balance and then click [Withdraw]. You will receive ETH based on the exchange rate of WBETH to ETH at the time you withdraw. How to Start SOL Staking on Binance?

1. Open the Simple Earn section on Binance. You will see various staking options such as ETH, SOL, and Soft Staking. Click on [SOL Staking] to get started.

2. When you enter the SOL Staking page, you will see information such as the reference APR and the conversion rate. This information gives you an overview of the potential rewards and the current conversion rate between SOL and BNSOL.

3. To start staking, click on [Register] and enter the amount of SOL you want to stake. In return, you will receive BNSOL (Binance Staked SOL)—a token representing the staked SOL along with rewards. Read and agree to the terms, then click on [Confirm]. You can view the Product Regulations tab at the top for more details about each product.

4. BNSOL allows you to continue earning staking rewards while still using your staked SOL. Unlike traditional staking that locks your SOL, BNSOL can be traded and transferred. You can sell, transfer to a personal wallet, or even use on external DeFi platforms while still receiving staking rewards.

5. If you want to retrieve SOL, go to [SOL Staking] and then click on [Withdraw]. Enter the amount of BNSOL you want to exchange from your BNSOL balance. Read and agree to the terms, then click on [Confirm]. You will receive SOL based on the exchange rate of BNSOL to SOL at the time you withdraw.

How to Start Soft Staking on Binance?

1. Open the Simple Earn section on Binance. You will see various staking options such as ETH, SOL, and Soft Staking. Click on [Soft Staking] to get started.

2. Click on [Activate]. Make sure you have read and agreed to the Soft Staking Terms ( and the related risk warnings ) before clicking on [Start Earning].

3. By participating in Soft Staking, you can receive rewards generated through the staking mechanism of the blockchain, also known as Proof of Stake (PoS). Rewards are usually paid in the native token of the blockchain ( unless otherwise specified). Summary Passive investing in cryptocurrency can provide great opportunities for individuals to increase their holdings over time without much effort. Binance Earn allows users to access a variety of products designed to maximize passive income while minimizing risk.