The world's largest crypto exchange Binance continues to offer various options for its users.
At this point, Binance made a new announcement for Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), XRP, Litecoin (LTC), Pepe Coin (PEPE) and Optimisim (OP).
Binance Margin, which has launched a new promotion for BTC, ETH, DOGE, SHIB, XRP, LTC, PEPE and OP, stated that investors who borrow these assets will automatically be exempt from an hourly interest fee.
“To thank our users for their continued support, Binance Margin is excited to launch a new promotion for BTC, ETH, DOGE, SHIB, XRP, LTC, PEPE and OP on 14.08.2023 at 06:00 UTC.
The promotion period is determined as 14.08.2023 06:00 UTC to 18.08.2023 06:00 UTC.
During the Promotion Period, all users who borrow any of these eligible cryptocurrencies through Binance Margin will automatically receive an hourly interest fee waiver.”
Explaining this promotion with an example, Binance gave the following example:
“User A and User B each borrowed 10 Bitcoins on 15.08.2023 05:20 UTC. Both User A and User B borrowed BTC on the same day at 06:15 UTC and 05:55 UTC, respectively. they give back.
Given that BTC interest borrowed on Binance Margin accrues every hour, users A and B should receive interest for two hours and one hour respectively under standard conditions. (Except during the Promotion Period)
During the promotional period, user A will pay only one hour of interest due to the application of an hourly interest waiver from 2 hours.
On the other hand, no interest will be charged as user B completes repayment of BTCs within the first hour after borrowing.”
*Not investment advice.