Binance boosts Bitcoin savings APYs sixfold for retail investors

The cryptocurrency exchange Binance has revised the structure of the savings rates for ‘Flexible Savings’ in Bitcoin and the stablecoins USDT, BUSD and USDC.

The Flexible Savings instrument allows crypto assets to be locked up indefinitely at a relatively modest rate, with the option to withdraw at any time.

The table below sets out the savings-rate structure:

For Bitcoin, the following APY:

• Level 1 (<0.05 BTC) — 3%;
• Level 2 (0.05 BTC-0.5 BTC) — 1%;
• Level 3 (>0.5 BTC) — 0.1%.

Previously, the BTC APY was 0.5% across the board. Thus, for smaller Bitcoin amounts, it has risen sixfold.

For stablecoins USDT, BUSD and USDC, a two-tier APY structure is provided, ranging from 0.3% to 3% (from larger totals to smaller).

The new rate structure will take effect today, 2 November, at 00:00 UTC.

Earlier in October, Binance учредила фонд на $1 млрд for the development and support of the Binance Smart Chain ecosystem.

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