Binance extends again it's flexible lending supported crypto currency list with TRX and LTC, and that's another great new.
Again, lending is a good way to make interest of supported cryptos, especially when you're in a non-willing hodling situation or when this crypto is not stackable.
It allows you to continue to generate crypto with crypto.
Two options here:
Auto subscribe give the possibility to enroll available crypto automatically each night.
In each case, flexible deposit allows to lend when you want, for the amount you want, and always be able to recover it quick: money is not blocked.
To recover (redeem) options:
- Wait for next night trigger: you keep the day's interest
- Fast: you recover quite instantly, but lose the day's accrued interests
For TRX, and as lent money make it not available = hold, in your account. My point here is to highlight it won't probably be accurate to flexible lend TRX, as Binance already soft-stakes your TRX account, with currently 7-9% annual interest.
It extends the list of currencies supported under flexible lending feature: BTC, BCH, ETH, BNB, BUSD, USDT, EOS, ETC and LINK.
I want to end this telling i don't do Binance for a long time, but am impressed with quantity of new features, comparing to some others, ok i don't practice all platforms, so when will coinbase, kraken or kucoin do lending too?
Ok all, thanks for reading, hope it helps, crypto subject is a very rich subject, so it's another contribution from mine for community.
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In all cases, have a nice day!