Binance promises interest rates of over 60 percent for credit balances in euros

In times of zero or even penalty interest with classical banks for assets in euro the world-wide prominent crypto stock exchange Binance makes an attractive offer. Whoever provides euros as liquidity at Binance can look forward to interest rates that recently even exceeded 60 percent.

Driven by the growing market for DeFi, there are more and more opportunities in the crypto industry to earn interest by providing liquidity. For Bitcoin (BTC) for instance around 10 per cent of expected annual interest are at present realistic, also with Binance as respectable offerer by Staking. For Ethereum (ETH), the linchpin of the young DeFi range, even 20 per cent and more are usual by Yield Farming, than aimed annual interest rate approximately with Uniswap. What Binance is now launching under “Liquidity Swap” is out of the series. This program also accepts euros directly as a fiat currency as a deposit.

Binance Swap for Euro – how does it work?

Binance makes it very easy for you to deposit euros as liquidity. Under the menu item “Finance” you will find the new sub-section “Liquidity Swap”. Here you will see the currency pairs that are currently available in this program from Binance. For Euros, the link to the stablecoin Binance USD (BUSD) is displayed. Now you can deposit Euros from your Binance account and expect interest from then on.

Binance will earn interest for you automatically by distributing fees received and interest earned from the liquidity pool elsewhere. The expected interest rates fluctuate and have already reached more than 60 percent for Euros, today, Wednesday, the expected value is almost 20 percent. You can withdraw your Euros from the pool at any time, interest is paid out daily.

What Binance handles for you in the background is another method of DeFi. That’s why the promised interest rates are always just a forecast and can in reality be both above and below. You can rely on Binance to handle the deals seriously, the world’s largest crypto exchange has not been conspicuous by irregularities so far. The growing market for DeFi and crypto-currencies in general is crying out for liquidity, this is how the returns can be explained, which amaze classic bank customers.

Conclusion: Binance Liquidity Swap for Euro – new chance for good interest rates

The risk in Binance Liquidity Swap for Euro is low, the outlook for double-digit interest rates is good. The special is the acceptance of the Fiat currencies of euro (and also British pound) for these deals, which does not exist in such form at other crypto exchanges at present. Thus hardly anything speaks against approaching the topic DeFi here at Binance as a private investor and to obtain interest rates, which your bank cannot promise you anything like that.

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