Binance Savings, previously known as Binance Lending, has added Stellar Lumens (XLM) and Ripple’s token, XRP to the list of support list of assets on Flexible Deposits.
Binance Savings is a value added service for the Binance users that hold idle digital assets.
Here are the details of this saving product.
XRP’s Individual Max Limit is 50,000,000 XRP
XLM’s Individual Max Limit is 200,000,000 XLM
Binance makes it clear that it can adjust interest rates. Binance can also adjust maximum individual limits on flexible deposits and this is depend on market and risk factors.
Another thing to keep in mind is that amounts allocated to Binance Savings products will not be able to receive corresponding staking rewards.
What is Binance Savings?
It is a financial product that Binance provides to its users to lend and earn interests. In this, users lend his / her idle cryptocurrency assets to Binance Margin and get interests.