As the world has suddenly moved into an economic crisis, ADA investors are searching for ways to earn daily interest on their ADA funds. Many of these users may be holding these ADA while others could be using them for other purposes. But what’s better than having our funds work for us at all times?
In the next sections, we will share with you how to earn daily interest on your ADA coins. You will increase your ADA funds on a daily basis and help you save some funds in just a few single steps.
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ADA Passive Income
If you want to get ADA passive income, you will have to create an account on the Binance exchange. This platform is the one that would help you get ADA passive income and earning daily interest on your ADA funds.
The company is offering the Binance Savings option that would help you get ADA passive income and increase your funds over time. This is certainly useful for individuals following the “hodling” strategy.
At the time of writing, you can deposit your ADA and start getting interest on them with the flexible deposit option. That means that you can deposit your funds and have them available with the interest earned at any moment you decide.
You will not have to wait long periods of time to get your ADA back. You can keep them for as long as two days and as much as you’d like. Currently, the interest rate is 0.68% annually on the ADA funds you have (this can change at any time). This is much more than traditional fiat currency deposits, which makes it very attractive for an asset that has a limited and decreasing supply.
Create a Binance Account
In order to get ADA passive income, we will have to deposit some ADA into the exchange. This is why you will have to create an account. If you already have a Binance account, you can move forward with the guide.
Go to Binance’s official site. You need to be sure that the Binance account is the official one. There are many phishing sites that are stealing users’ funds by using Binance credentials. This is why you can enter the Binance exchange by using the official link.
You need to create a free account. You will not have to pay for keeping your account open, so don’t be worried if you don’t use it later. At the same time, Binance protects users’ data and information. If you want to open an account, you will have to select “Register” on the upper right side of the screen.
Insert all the information they ask for and once the account will be created, you will have to confirm and validate your account through an email the company will send to you. Once you have done that, you will be able to deposit some ADA on this platform to get a daily interest on your funds.
Deposit Your Fund
Once you created your account, you will have to go to Wallet and then click on Spot Wallet (Deposit & Withdraw). You can see the section we are making reference to in the image below:
You will have to search in the Search Coin option, the ADA cryptocurrency. Thus, you will only need to write ADA there and the coin will appear. The whole system is very intuitive.
This is where you will have to click on Deposit and send the funds from your ADA wallet or another exchange. Once the funds will be deposited, we will have the possibility to add them to our savings and get daily interest on our ADA funds.
Start Earning ADA!
Now that you have deposited ADA on your Binance account, you will be able to start earning daily interest on your ADA funds. You will have to open the Earn section and click on Savings – Deposit crypto and earn rewards.
You will be able to select the Flexible option here. You can subscribe your ADA for a yearly interest rate of 0.61%. One of the highest at the moment offered by cryptocurrencies in the platform.
The Auto-Subscribe option will allow you to earn compound rewards to your ADA funds. If you deposited funds and you have already earned some ADA, the funds will be added to your initial investment automatically.
Binance will ask you to accept the Binance Savings Service Agreement and you will be able to start earning rewards on your ADA. This is the easiest and fastest way to start earning ADA passive income.
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