I've already added an article on how to Boost your Brave (BAT) passive income using Binance Savings. This will take the learnings from that post and present a new method for earning even more from your BAT savings.
Binance provides a 0.44% APY on your BAT earnings on Binance. While it is not much, you can earn a bit extra if you were to move your BAT earnings monthly to Binance. For example, I receive an average of 10BAT a month. Without Binance, that equates to 120BAT a year. Moving it to Binance will give me 120.24BAT a year - an extra of 0.24BAT.
However, Binance allows you to convert your BAT to any other token at the fair market value price - you need to have 30BATs to do so. And if you look into Binance earnings, you can always find tokens/coins that have significantly higher returns. For example, AVAX gives you a 21.20% return.
So here is the super boost algorithm:
- Migrate your BAT earnings to Binance as soon as they vest
- Put your BAT earnings into Binance Savings and earn 0.44%
- As soon as you get 30BAT, convert it to some other token, for example, AVAX
- Put your AVAX (or any other token) into Binance Savings and earn even more
So in my AVAX example, here are the earnings I would make (assuming the current market price for AVAX and BAT)
- Not doing anything and keeping BAT in Gemini: $79.20 / year
- Moving into Binance and use Savings on BAT: $79.39
- Converting BAT to AVAX as soon as possible: $123.26
If you want to play with this model, here is a Google Sheets you can clone and modify to your need.