Binance is the largest cryptocurrency exchange and offers a range of features. For a new user, navigating through these services can be overwhelming.
I began trading on Binance back in 2019, and there are a few features that I have found to be particularly useful. I wish I had known about these features earlier, which is why I wanted to share with you the TOP 3 services that I frequently utilize on the Binance.
1. Simple Earn
One of those features on Binance that I have been constantly using since I discovered it is Simple Earn. There is a good reason why this feature is called Simple Earn. It is the simplest way to earn a yield on your crypto holdings that I know.
In the screenshot below, you can see the current estimated APR for some of the most popular coins and tokens. You can search for your favorite coin and start earning with just a few clicks. Simply add the amount of tokens and start earning.
Additionally, you also have the option to benefit from the compound effect by turning on the auto-subscription. When you turn on the auto-subscription then the available balance in your Binance Spot Wallet will be used daily to subscribe to the Earn Product that you have chosen.
It is also worth keeping an eye on special offers for Binance Simple Earn Products. These are usually announced on Wednesdays via Binance's social media channels. On Earn Wednesdays, Binance announced special rewards across Simple Earn, ETH Staking, Dual Investment, Auto-Invest, and similar services. These special offers on Earn Wednesdays are always a good deal and it is worth it to keep an eye on them. I subscribed to the Binance Announcements Channel on Telegram to keep myself up-to-date.
For example, right now, there is a special offer for the stablecoins $FDUSD and $USDT where you can earn the real-time APR plus up to 10% bonus tiered APR!
2. BNB Vault
Another service on Binance that I am constantly using is the BNB Vault. In my opinion, the best place to put my $BNB to work is the BNB Vault which combines rewards from Simple Earn and Launchpool.
BNB Vault combines rewards from Simple Earn and Launchpool. I know that when I keep my $BNB in the BNB Vault new projects that are launching via the Launchpool are automatically being farmed with my $BNB balance. On the other hand, if I need my $BNB to allocate it for a presale on the Binance Launchpad or any other purpose, I can redeem my coin anytime.
3. BNB Trading Fee Reduction
Another feature that I am constantly using on Binance is paying my trading fees in $BNB to enjoy a 25% trading fee discount. I enabled this feature a long time ago and now I have a hard time finding it again. It is very well hidden in the debts of your dashboard. If you are also having a hard time finding the button to enable the 25% $BNB trading fee discount in your dashboard I recommend reading the guide "How to Use BNB to Pay for Fees and Earn 25% Discount" in the Binance FAQ section.
The $BNB trading fee reduction of 25% on Binance is one of the many benefits for $BNB holders. I you haven't enabled this feature yet, I recommend doing so. A 25% discount is a great deal that I don't want to miss.
My Final Conclusion
These were my TOP 3 features that I have been constantly using on Binance since I discovered the exchange. Of course, I am interested in the features that you are constantly using on Binance. For example, does anyone use the Binance Rebalancing Bot? The rebalancing bot is another feature of Binance that you can use regularly. Please let me know in the comments.
If, for some reason, you have not yet registered on Binance, please consider using my referral link with the invitation code E3PGAJCE to sign up. Using it saves trading fees for each Binance trade, a win-win.
I hope my post provides valuable information, but it doesn't replace your #DYOR. Although I may appear knowledgeable in my profile picture, I am not your financial advisor. Please do not consider my article as financial advice.
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