Binance Adds Another Top 10 Coin to its Lending Program

Binance

Binance Adds Another Top 10 Coin to its Lending Program

Binance is all set to launch its sixth phase of lending products on  25th September at 6:00 AM (UTC), where 14-day fixed-term lending products will be made available. The service is available to users on a first-come-first-serve basis.

Binance Adds EOS, LINK to Sixth Phase of Lending Program

Per an official announcement on Binance’s twitter handle, Binance is all set to launch its sixth phase of Binance Lending Products on September 25th.

Source- Twitter

In the sixth phase of Binance’s lending initiative, users will be able to lend Binance Coin(BNB), Bitcoin(BTC), EOS, Ethereum Classic(ETC), Ethereum(ETH), ChainLink(LINK), Tether(USDT) and Ripple(XRP) to earn interests payable from Sep. 25 to Oct. 09. 

Source- Binance Lending Product Details

The annualized interest rate for initial lending products with a 14-day fixed maturity term has been set at 10 percent, 3 percent, 6 percent, 7  percent, and 6 percent, 6 percent, 10% and 6% for Binance Coin(BNB), Bitcoin(BTC), EOS, Ethereum Classic(ETC), Ethereum(ETH), ChainLink(LINK), Tether(USDT) and Ripple(XRP) respectively.

A Look At Binance’s Different Phases of Lending

The fifth phase of Binance lending products saw privacy coins Monero(XMR), ZCash(ZEC) and Dash(DASH) being listed. Binance launched its fourth phase of lending on the 18th of September.

The third phase of the launch saw Ripple(XRP), Litecoin(LTC) and USDC being added to the lending platform providing 7% annual returns.

Binance launched the second phase of its lending program on the 4th of September. In the second phase, 14- day and 28-day fixed-term lending products were made available.

The first phase of Binance lending began on the 28th of August with returns as high as 15% on BNB coin. Binance believes that the various phases of lending will increase the availability of funds to margin traders.

Binance Supporting the EOS Hard Fork and Upgrade

Today, Binance also announced that it will support the upcoming EOS hard fork and upgrade. For the same purpose, deposits and withdrawals of EOS will be suspended starting from 2019/09/23 12:00 PM (UTC). However, trading of EOS will not be affected.

Will Binance’s ongoing initiatives bring more traders to the platforms? Will the crypto market soon present the scenario of “Spoilt for Choice” as leading exchanges compete to get the best user experience? Let us know what you think?

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Binance Adds Another Top 10 Coin to its Lending Program
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Binance Adds Another Top 10 Coin to its Lending Program
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Binance is all set to launch its sixth phase of lending products on  25th September at 6:00 AM (UTC), where 14-day fixed-term lending products will be made available. The service is available to users on a first-come-first-serve basis.
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Author: Supriya Saxena

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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Supriya Saxena 216 Articles

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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