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Dual Savings Product on Binance, and what you should know about that
Binance has launched the 25th phase of dual savings products on January 13, 2021, which is to be served on a first-come, first-served basis with a subscription period of one day, i.e., from January 13, 2021 (4:00 AM UTC) to January 14, 2021 (4:00 AM UTC). The time for settlement is 8:00 AM (UTC)on the day of expiry, and the price of settlement depends on the index of BTC prices across Bittrex, LMAX Digital, Itbit, Bitstamp, Coinbase Pro, and Gemini. The highest and lowest prices will not be considered from these exchanges & the average prices of the remaining five exchanges will be considered for settlement price.
Are you confused about Dual savings? It is a kind of financial product through which users can have the highest possible earnings and the satisfaction of digital asset risk management needs.
On January 13, 2021, another important announcement was a 50% lowerinterest rate to borrow EUR and RUB till January 20, 2021 (8:00 AM UTC).There is an extensive range of crypto assets, collateral assets, interest rates,and maximum loanable limits offered in Binance loans.
Binance launched loan services to satisfy the funding requirements of Binance users. The registered Binance user can only avail of this service, and it supports BTC, ETH, and all other cryptos as collateral.
Binance is trying hard to satisfy its existing users and to attract new users. Still, a person should be careful doing the trading as it might cause losses. Dual savings seem to be fascinating to a new user, but it does involve many risks. Here, the settlement price and the pegged price are used to determine the final settlement even though the return rate is fixed. It doesn't offer principal protection.