Hello, I’m Eunkye. I can do anything if I have money.
The recent increase in international interest rates is fierce to curb inflation. With the FOMC announcement, the investment market will be very nervous riding on a big seesaw. However, many people are interested in stable deposits and installment savings due to the increase in international interest rates. Most banks are also releasing a variety of products at this time. I also thought that this interest rate would be worth listening to deposits or installment savings, so I looked for some deposit products.
First of all, if you search Naver for installment savings, you promise up to 10% interest. I’ve been hit with stocks and coins a lot, so I think 10% interest is worth it.
If you go into the interest rate, the limit on the amount is quite low as below, and it is not easy to meet the conditions for receiving the highest interest.
If you look at the “High Withers Regular Savings,” which appears first, the amount is up to 100,000 won, and the basic 3% + additional 2% is applied to the general public, and 5% is added to 10% for low-income families. There are many other products that open cards together or only first-time subscribers in the financial sector.
However, even if the preferential terms were met and the preferential interest rate was added to the 10% interest rate,
Interest income is taxable, so it is about 56,000 won after tax. I’ve already lost my mind to save money even if I look up to this point. To be honest, installment savings are used to save a lot of money rather than to make money, but I thought I would be offended even if I received that amount by filling it with maturity.
So the product I’m going to introduce today is Binance’s “Earn”.
The product promises 10% annual interest and is not yet taxed on coin income, so you can receive interest without tax. I will explain the reasons and advantages of doing it with the process. There is no reason not to do it just by looking at annual interest and tax exemption, but if you look below, there is no reason not to do it.
an investment method
Sign in or sign up for Binance
Friends Referral Program | Refer & Earn | Binance Official
Lite Referral Standard Referral Claim your 100 USDT cashback voucher You’re just steps away from receiving your reward. 1 Create your account 2 Deposit more than $50 within 14 days after registration Receive 100 USDT cashback voucher each Get started
www.binance.com
Log in to Binance. If you don’t have an ID, I recommend you to sign up. Binance is the world’s largest exchange, and if you are thinking of investing in virtual currency, you must have at least one Binance ID. It’s my repertoire. If you’re uncomfortable, you can use the reference. It’s convenient to sign up with your mobile number later, and you can use Upbit to transfer money to Binance, so you can use it under the same name as Upbit.
2. TRX (Tron), XRP (Ripple) transmission from Upbit to Binance
Since coins cannot be purchased from Binance itself, TRX (tron) and XRP (ripple) are purchased from Upbit. I often use XRP (Ripple) because of its fast transmission speed and low commission. In order to prevent errors in address and transmission network writing when transferring coins from Upbit to Binance, I send TRX (Tron) and XRP (Ripple) from Upbit in advance. When you send it in advance, you send the remaining amount when it is normally deposited into Binance.
I heard that you can get it back when you send the wrong money, but the process is very difficult. You need to get your act together and proceeding!
★ It is recommended that you check the kimchi (Kimchi Premium) with a small tip and deposit it in Binance.
Kimchi Premium and Cryptocurrency Real-time Market Price Check, Kimf
It provides real-time fluctuations in kimchi premium reverse, cryptocurrency, and bitcoin market prices. Kimf’s website, Kimf
kimpga.com
You can check the kimchi on the above site, and you can search XRP (Ripple) or TRX (Tron) on the coin search and buy it at Upbit when the kimchi is 1-2%. Kimp compares the price with Binance when buying coins at Upbit, and most of them are a little more expensive. Moving the coin to Binance -> Upbit when the gimps are high, and moving the coin to Upbit -> Binance when the gimps are low can result in a risk-free return, which is called a ‘bundle’.
3. Buy USDT or BUSD after selling TRX (Tron) and XRP (Ripple) at Binance
Sell TRX (Tron) or XRP (Ripple) deposited in Binance and buy USDT (Tether) BUSD (Binance USD). These two stable coins are the Earn coins that we will invest in this time. To explain this,
USDT (Tether)
It is also called Tether and is the world’s first stable coin. As the name suggests, it is a virtual currency whose price of coins rarely changes.
To keep the price constant, we hold legal currency or other cryptocurrency as collateral or use sophisticated algorithms to control supply to maintain the price.
USDT is pegged (1:1 match) to the legal currency of the United States, so you can think of it as 1 USDT = 1.
BUSD (Binance USD)
It is a stable coin that is pegged 1:1 with the dollar issued by Binance.
★ That’s why we need to make this investment. The dollar’s rise is the rise of USDT and BUSD because USDT and BUSD pegged 1:1 with the dollar. As international interest rates rise, the value of the dollar, the world’s key currency, is increasing and the value of the won is decreasing. The interest on this product will be paid in USDT and BUSD, so it is equivalent to receiving dollars. It’s a very attractive investment because you can also take care of the rise in the dollar exchange rate.
These stable coins are so stable that concerns about defagging (the breaking of pegging) are weak. Defegging… you can think of Terra, but if the USDT collapses, I think the coin board will be shaken because it’s a symbolic coin of Stable Coin. Personally, I think the probability of defegging is slim because if the BUSD collapses, the binance collapses.
Once you have purchased USDT and BUSD, the initial preparation is complete.
4. Click “Earn” with the Binance app and click USDT and BUSD
Turn on the Binance application, press ‘Earn’ on the first screen and select ‘USDT’. Flexible Savings is free to deposit and withdraw, and it does not take a lock, so you can pay interest even if you put it in and take it out for a day. Check and click ‘Flexible Savings’ APR 10%. APR stands for annual rate of return.
You can proceed with USDT and BUSD in order.
5. Subscribe to Subscribe
Fill in the purchased USDT, lower it, select the check box, and press ‘Confirm’ to finish.
Please note that if you pay 10% interest only for 2,000USDT, and if you get more than that, the interest rate will be lowered, so you have to set it below 2,000USDT. Likewise, BUSD pays 10% for 2,000BUSD, so you can invest about 4,000 dollars.
As of now, $4,000 is about 5.28 million won, 10% of which is 528,000 won, and total income without tax. Compared to the 56,000 won in the bank product above, there is a difference of almost 10 times, so it is much better to Earn at Binance if it is the same amount.
6. Checking interest and withdrawing
It pays interest per hour, so it’s also fun to see interest. Select ‘Wallets’ in the Binance app, select the BUSD or USDT you are investing in, and click ‘Redeem’. Then select the quantity you want to withdraw and select ‘Fast Redemption’.
Fast Redemption is an immediate withdrawal, and “Standard Redemption” is a withdrawal the next day as described below, but it doesn’t mean much because it’s a stable coin. If you save about $2,000 per stable coin, you’ll get $0.54 per day in interest. If you turn both the BUSD and USDT, it’s a lot of $1.08. It can be called a gift after collecting only 10 days, and it is a good product in many ways.
It’s better to be incited quickly because you don’t know when the honey bucket will break. Let’s quickly participate and enjoy the money copy event and endure the decline.