IOTA, ONT Now Added by Binance to Flexible Savings

News
Fri, 05/15/2020 - 10:56
Yuri Molchan
The giant crypto trading venue Binance has spread the word that IOTA (MIOTA) and Ontology (ONT) have been added to its Flexible Savings products
Cover image via stock.adobe.com

Binance has announced that it has added IOTA and ONT to the list of crypto assets supported by Flexible Deposits.

The individual maximum limit for IOTA is 50,000,000 coins. As for ONT, this figure is 20,000,000 coins.

Flexible Savings on Binance is aimed at giving users the chance to earn interest on their crypto by lending it to Binance Margin and making profits on that.

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Here’s how Binance describes the potential profit from providing your crypto for Flexible Savings products:

“Average annual return: The average annual return (APR) uses the average daily interest rate from the past 7 days, multiplied by 365. It is a reference to the daily interest you are entitled to, but not exactly the same as the actual interests.”

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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