Bitcoin Cash BCH is now 8% Flexible on Binance Earn
A few months ago I wrote about Binance Earn and invested there some small amounts of different cryptocurrencies. What I noticed is that APR for cryptocurrencies change. For example, for Bitcoin Cash (BCH) I remember that I checked not so long about and it was 2% but now it is 8%.
This article is not investment advice. But I think that’s an interesting observation, that Binance increased it’s APR rate for BCH. Moreover, this is for a “Flexible” duration, which means you can withdraw at any time without loss of profit. In Binance earn for different crypto there are 30 days duration, 60, 90, and even 120. With your non-Flexible, “Locked” investment you can also withdraw earlier than the appropriate term, but then the interest you received (and it’s shared with you daily) will be deducted from your deposit. In “Flexible” deposits you won’t have such loss.
For example, for stablecoins USDT and BUSD the APR is also 8%, and it used to be 10% or even higher in the recent past. Moreover, on these stablecoins you will have such rate only up to $1000 deposit, then if you deposit more — it will be less than 1%. And on BCH as you can see from the screenshot below — the quota is 2500 BCH which is really a lot compared to other cryptocurrencies.
Just to compare, when I wrote about Binance Earn 3 months ago, the APR for MATIC was 21.54% (as I see it from my screenshot illustration) but now it is only 13.9%. This is for 90-days locked deposit, for “Flexible” deposit it’s only 2%.
This doesn’t mean I want to say that Binance started to believe less in MATIC and more in Bitcoin Cash or that Binance wants to attract BCH deposits much more than many other cryptocurrencies. Let’s take a look at BNB — it has 6.2% APR on 120-days (maximum available deposit) and only 0.35% on “Flexible”.
The APR of my small investments of MINA, NEAR, ATOM in Binance Earn remained unchanged, but it was lowered for SHIBA and ADA.
I use Bitcoin Cash as cash for daily payments, in example recently I used all my crypto-blog earnings to pay for fuel (with Binance Pay) so I didn’t invest BCH into Binance Earn, but I will consider this option for the future.
In conclusion, that’s not investment advice, only a small observation, as I know among my crypto-blog readers many people use BCH.