As the world has suddenly moved into an economic crisis, TRX investors are searching for ways to earn daily interest on their TRX funds. Many of these users may be holding these TRX 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 TRX coins. You will increase your TRX funds on a daily basis and help you save some funds in just a few single steps.
Disclaimer: All the information provided by CryptStorm.com and its writers is for educational purposes only. Don’t take the information you read on our site as investment advice. Never invest more than what you are able to lose and contact your local advisor if you want to invest. We are not responsible for the decisions you make.
TRX PASSIVE INCOME
If you want to get TRX passive income, you will have to create an account on the Binance exchange. This platform is the one that would help you get TRX passive income and earning daily interest on your TRX funds.
The company is offering the Binance Savings option that would help you get TRX 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 TRX 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 TRX back. You can keep them for as long as two days and as much as you’d like. Currently, the interest rate is 0.61% annually on the TRX funds you have. This is much more than traditional fiat currency deposits, which makes it very attractive for an asset that has a limited and decreasing supply.
Read More: Guide About How To Invest In Chainlink
CREATE A BINANCE ACCOUNT
In order to get TRX passive income, we will have to deposit some TRX 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 TRX on this platform to get a daily interest on your funds.
DEPOSIT YOUR FUNDS
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 TRX cryptocurrency. Thus, you will only need to write TRX 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 TRX 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 TRX funds.
START EARNING TRX!
Now that you have deposited TRX on your Binance account, you will be able to start earning daily interest on your TRX funds. You will have to open the Finance section and click on Savings – Deposit crypto and earn rewards.
You will be able to select the Flexible option here. You can subscribe your TRX for a yearly interest rate of 1.54%. One of the highest at the moment offered by this platform. If you catch locked savings account with TRX, you can earn up to 10% yearly — however, this does not happen so often.
The Auto-Subscribe option will allow you to earn compound rewards to your TRX funds. If you deposited funds and you have already earned some TRX the funds will be added to your initial investment automatically.
Consider buying a Ledger Nano X to store your cryptocurrencies you do not use to earn rewards. This hardware wallet will help you protect your funds from hackers and other problems.
Binance will ask you to accept the Binance Savings Service Agreement and you will be able to start earning rewards on your TRX. This is the easiest and fastest way to start earning TRX passive income.
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