Can you lose money saving with Binance Earn?
Asked 3 years ago
Hey peeps, I want to start saving my money in a interest account and I discovered that Binance Earn has got compound interest and overall much better deals than your general brick & mortar banks. However, I need to check to make sure that my money won't disppear on me. Is Binance Earn secure?
Andrew Moran
Monday, March 14, 2022
Yes, it is highly possible that you can lose money even by taking advantage of Binance Earn.
The problem is that even by accruing interest and compound interest on your deposits, you could still lose your investment if the value of the cryptocurrency or virtual token you staked falls.
But the interest rate can be quite attractive and offer you a source of passive income.
Please follow our Community Guidelines
Related Articles
How to Identify a Good Investment Company
Sofia Thai
April 23, 2021
Know This About the IronFX Broker
Filip Dimkovski
June 15, 2021
Solved - The Answers to eToro's Trading Knowledge Assessment
Andrew Moran
December 22, 2024
Related Posts
Filip Dimkovski
Should I Invest Into QQQ or VOO ETF?
Filip Dimkovski
Should I Open an Investment Account for My Children?
Filip Dimkovski
What Are Examples of Appreciating Assets?
Filip Dimkovski
24Option Review: Account Types, CFDs, Safety, and More
Filip Dimkovski
Is Investing in Index Funds a Good Place to Start?
Andia Rispah Igobwa
How Many Shares per Stock Should I Buy?
Can't find what you're looking for?