Understand how your money grows: What is Simple Earn and the APR? 🇻🇪
If you already have your digital dollars, the next step is to understand how to make them work. It's not just about "saving money", it's about optimizing it.
Here I explain the 3 key points you need to know:
1️⃣ What is Simple Earn?: Think of it as a digital savings account. You deposit your USDT and Binance gives you daily rewards for providing liquidity. The best part is that in Flexible mode you can withdraw your money instantly to use it in P2P whenever you want.
2️⃣ What does APR mean?: It's the "Estimated Annual Rate". If you see a 6%, it doesn't mean you'll earn that tomorrow, but rather it's the projection for a year. To know your daily earnings, the platform divides that percentage by 365 days of the year and deposits it to you every morning.
3️⃣ The power of Compound Interest: If you activate "Automatic Subscription", today's earnings are added to your capital for tomorrow. This way, every day you generate interest on a slightly bigger amount without doing anything extra.
It’s the smartest way to combat inflation with the assets you already have.
📝 Note: This is educational content and does not represent financial advice.
Did the explanation help you? Give a Like if you now have a clearer understanding of how your savings work or share this post with a friend who needs to understand these terms. 📈
If you already understood the theory and want to take action, check out my previous post where I explained with images the detailed step-by-step to activate this option in less than a minute.
