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Do you want to know the advantages of saving in cryptocurrencies? here we tell you

23 Aug 2021 – 1:00 p. m.

Binance sponsored content

Binance, one of the best cryptocurrency exchange platforms, brings us closer to the world of digital investment. He explains to us what are the benefits of this type of saving and the investment opportunities. Cheer up!

It is increasingly common to hear a friend or family member talk about their interest in saving in cryptocurrencies, a term that for many may remain unknown, but that for the world of digital investments is a reality, and a safe and secure path. profitable.

The interest is such that according to the Global Crypto Adoption Index 2020 by the analyst Chainalysis, Colombia is one of the countries in Latin America that has increased that rate the most. use in cryptocurrencies, occupying the ninth position of 154, only below Venezuela who has the third place.

In addition, there are already cryptocurrencies that are a pair of some currencies, that is, they are digital currencies that have the same value of the dollar, for example, but that have all the characteristics and advantages of the crypto world. Binance, the cryptocurrency exchange platform with the highest commercial volume in the world already offers these digital dollars, so there you can save in dollars, but crypto-style.

So that we can all understand how to enter this universe, the platform explains how the products it offers work. It’s not that difficult!

To register and create an account on Binance, click here

Among these products are Flexible Savings, which allow you to have a savings account within the cryptocurrency ecosystem: you deposit your digital currencies in these accounts and you can earn profitability for these deposits, in fact, with higher returns than those of traditional banks. And like any savings account, you can easily deposit or withdraw (redeem) money whenever you want.

After the subscription, you will receive crypto-assets through Flexible Savings, and the interest calculation begins on the second day. It is worth noting that the interests acquired with these products will be distributed to your account daily (even if crypto markets fall).

On the other hand, for those who want to obtain higher returns, they have the option of using the service of Blocked Savings. They work similar to a CDT in Colombia, since the user deposits their money (or in this case their cryptocurrencies) and will not be able to withdraw them until an agreed time.

Although there is no flexibility when it comes to withdrawing (redeeming) cryptocurrencies, it is a more effective way of saving: on the one hand, because it reduces the temptation to spend your resources and because the time blocked helps to generate higher returns.

The profitability that Binance pays to its savers is dynamic, and is calculated based on a moving average of the return of the last seven days. This means that it is possible that some days users receive moderate profits and other days they obtain strong returns.

There are more complex, but highly interesting savings alternatives. For instance, Staking Blocked: It sounds complicated, but it can be understood as a collective investment fund. That is, you allocate part of your savings to collaborate in a network of Blockchain, and receive profit in return. Interest or returns are distributed daily and resources can be redeemed (withdrawn) at any time.

Binance also offers a solution for those seeking liquidity: advance swaps. Which can be understood as a payroll advance, but applied to cryptocurrency savings accounts. (For more information on Staking, see the platform of Binance Academy).

Binance has been in operation for about five years and has a presence in more than 40 countries around the world, with decentralized offices. In Colombia it is increasingly positioned as an important benchmark in the cryptocurrency market, which seeks to give Colombians the opportunity to have Financial Freedom and the country, take great steps to open up to digital money. Cheer up.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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