A Beginner’s Guide to Binance Earn 

Prison Professors Masterclass Digital Economy: Lesson 12: Binance BNB

Start your passive investing journey today and unlock the potential of your crypto holdings with Binance Earn! #Crypto #PassiveInvesting #BinanceEarn #FinancialFreedom #Investing #DigitalAssets #PrisonProfessors #MichaelGSantos

Lesson 12: A Beginner’s Guide to Binance Earn

Lesson Intro:

The world’s largest crypto exchange, Binance, entered into a collaboration agreement with our nonprofit, the Prison Professors Charitable Corporation. With this collaboration, we’re able to provide justice-impacted people with a great resource they can use to learn about cryptocurrency, decentralized finance (DeFi), Web3.0, Artificial Intelligence, and other topics that relate to the digital economy. The agreement is part of our nonprofit’s ongoing efforts to help people prepare for success after prison.

Some people have access to our videos, others do not. If a staff member in your prison will authorize videos, invite them to contact Prison Professors for information on how we can send DVDs with additional educational materials to help people learn–and potentially an in-person presentation in your facility.

Each lesson includes critical thinking questions and a glossary. We encourage participants to use these lessons, and to memorialize their learning path by building a profile on Prison Professors Talent. More information on how to build a personal profile at the end of this workbook.

12. A Beginner’s Guide to Binance Earn

TL;DR

Passive investing in cryptocurrencies allows users to earn rewards from their idle digital assets with minimal effort. Platforms like Binance Earn offer benefits such as lower fees, a consistent investing strategy, and less time effort compared to active trading. Binance Earn provides a range of products to help users earn passive income, including flexible and locked savings options. To get started, log in to your Binance account, navigate to the Earn section, explore the available products, and see the estimated returns. Choose a product, subscribe, and confirm your investment. Flexible options allow you to redeem your funds anytime, while fixed options require lock-up periods for higher interest rates. Passive investing through Binance Earn offers a great opportunity to grow your crypto holdings over time with minimal effort, providing a diverse range of products to meet the needs of different investors.

Key Takeaways

  • Passive investing in cryptocurrencies allows users to earn rewards from their idle digital assets with minimal effort.
  • Passive investing in platforms like Binance Earn offers benefits such as lower fees, consistent investing strategy, and less time effort.
  • This guide covers the basics of passive investing and how to get started earning from your crypto holdings with Binance Earn.

Introduction

When people first begin their journey into cryptocurrency trading and investing, they often start with spot trading, which is among the simplest ways of buying and selling financial assets. However, many feel uncertain about what to do with their idle digital assets, so passive investing can be a good choice – and Binance Earn is a great place to get started.

In this article, we will cover the basics of passive investing, its potential benefits and limitations. We will also go through a quick guide on how to get started earning from your crypto holdings with Binance Earn.

What Is Passive Investing?

Passive investing is a way for people to grow their money without working too hard. It means putting money into things like stocks or cryptocurrencies and letting it grow over time. You don’t need to check it all the time or do lots of buying and selling. This approach has gained popularity not only in traditional markets but also in the cryptocurrency space.

With passive investing, cryptocurrency holders are able to earn a steady stream of income from their digital assets without the need for frequent trading. In the crypto space, passive income can be generated through various methods, each with its own set of risks and rewards. A few common examples include staking, yield farming, and lending and borrowing.

Advantages of Passive Investing

  • Lower fees: Passive investing typically involves lower fees compared to actively managed funds, as it requires less frequent trading and asset reallocation.
  • Consistency: Passive investing usually follows a set investment strategy, allowing investors to maintain a consistent approach over time without the need for frequent adjustments or market timing.
  • Time efficiency: Passive investing requires less time and effort compared to active trading, making it suitable for investors who prefer a hands-off approach to managing their portfolios.

Limitations of Passive Investing

  • Market risk: Passive investing doesn’t involve active management to respond to changing market conditions, potentially leaving investors susceptible to market downturns or prolonged periods of underperformance.
  • Limited flexibility: Depending on the strategy or product chosen, investors may not have the flexibility to quickly access their funds.
  • Market concentration: Some passive investment vehicles may be heavily concentrated in a few large-cap assets or sectors, increasing vulnerability to risks or market downturns impacting those sectors.

What Is Binance Earn?

Binance Earn is a great place for users to receive passive income from their crypto holdings. It offers a diverse range of products to meet the needs of different investors, from beginners to experienced users.

Binance Earn provides users with access to flexible savings, locked savings, and a few other products – each offering unique features and benefits. Flexible savings allow users to deposit and withdraw their funds at any time, while locked savings offer higher interest rates in exchange for locking up funds for a specified period.

How to Get Started With Binance Earn?

  • Log in to your Binance account and find [Earn] at the top menu.
  • You will be redirected to the Binance Earn interface. Here you can see the available products, such as Simple Earn, High Yield and Auto-Invest. On the right side, you will find a summary of your holdings and an estimate of your returns in the last 30 days.
  • Scroll down to find a list of available products. Here you can see the different assets followed by estimated APR and duration. You can also use the search function or filters to look for specific assets.
  • To start earning from your holdings, you have to choose a product offering and subscribe to it. Add the amount of funds you want to use, check the summary and click Confirm when ready. You can check the Product Rules tab at the top for more details on each offer.The Flexible options allow you to redeem your 
  • funds anytime. The Fixed ones will require you to lock your funds for a certain period. Below is an example of a Fixed term product, with different lock-up periods.

Closing Thoughts

Passive investing in cryptocurrencies can offer great opportunities for individuals to grow their holdings over time with minimal effort. Binance Earn provides users with access to a variety of products designed to maximize passive earnings while minimizing risk.

Further Reading

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Critical Thinking Questions

  1. What are the potential benefits and risks of passive investing in cryptocurrencies, and how can one mitigate those risks?
  2. How does passive investing in cryptocurrencies differ from active trading, and why might some investors prefer one approach over the other?
  3. In what ways can platforms like Binance Earn contribute to financial literacy and economic empowerment, particularly for individuals preparing to re-enter society?
  4. How can building a personal profile on Prison Professors Talent enhance the learning and professional opportunities for individuals engaging with these educational resources?
  5. What ethical considerations should be taken into account when investing in cryptocurrencies, and how can investors ensure they are making responsible financial decisions?

Advocacy Initiative:

We encourage participants to begin memorializing the ways they are using time in prison to prepare for success upon release. I encourage participants to create a personal profile by:

  1. Writing a simple biography
  2. Writing a daily journal to show all that you’re learning
  3. Writing book reports that memorialize the books you read
  4. Writing a release plan to show the ways you’re preparing for success upon release

These strategies helped me immensely once I got out. By using my time wisely inside, I was able to raise capital, build businesses, and succeed in ways that few people would think are possible for someone who served multiple decades in prison. Anyone can do the same—if they prepare first.

If you’d like to follow in the same footsteps, I encourage you to begin building your personal profile. Get started by sending an email message to our team at:

Prison Professors Talent
[email protected]
32565 Golden Lantern, B-1026
Dana Point, CA 92629

Our interns will accept your email invite. You may then send the interns a message such as:

Dear Interns,  

My name is xxx, and I am in prison. I would like to begin showing the strategies I am using to prepare for success upon release. Please send me a Release Plan Workbook, and any other books that will help me prepare for the job market. After receiving those workbooks, I will begin building my profile to show others how I am using my time inside to prepare for success outside.  

Sincerely,
[Your Name]

Glossary

  • Asset (noun) – Any resource owned by an individual or entity, typically financial in nature, that can be used to generate income.
  • Binance (noun) – A cryptocurrency exchange platform offering various financial products and services, including passive income options.
  • Borrowing (noun) – The act of receiving something of value, usually money or assets, with the promise of returning it or its equivalent.
  • Concentration (noun) – The degree to which a particular asset or sector dominates an investment portfolio.
  • Consistency (noun) – The quality of maintaining a steady and unchanging approach or strategy over time.
  • Cryptocurrency (noun) – A digital or virtual currency that uses cryptography for security and operates independently of a central bank.
  • Earning (noun) – The act of receiving income or rewards, typically from investments or labor.
  • Flexibility (noun) – The ability to easily adapt or change strategies or actions, particularly in financial contexts.
  • Idle (adjective) – Not active or in use, often referring to assets that are not currently generating income.
  • Interest (noun) – The charge for the privilege of borrowing money or the return on investment for deposited funds.
  • Investing (noun) – The act of allocating resources, usually money, in order to generate income or profit.
  • Lending (noun) – The act of providing money or assets to another party with the expectation of being repaid, often with interest.
  • Lock-up (noun) – A period during which invested funds cannot be withdrawn without penalty.
  • Passive (adjective) – Requiring minimal active management or effort, typically used in the context of investing.
  • Portfolio (noun) – A collection of financial assets such as stocks, bonds, and cryptocurrencies held by an investor.
  • Redeem (verb) – To exchange or convert an asset for cash or its equivalent, typically upon reaching maturity or a specified condition.
  • Savings (noun) – The portion of income not spent on current expenditures and set aside for future use, often earning interest.
  • Staking (noun) – The act of locking up cryptocurrency funds in a wallet to support the operations of a blockchain network, earning rewards in return.
  • Strategy (noun) – A plan of action designed to achieve a long-term or overall aim, especially in the context of investing.
  • Yield (noun) – The income return on an investment, usually expressed as an annual percentage rate (APR).

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