Binance Adds BNSOL To Auto-Invest, ‘Buy Crypto’, And Loans Services
In Brief
Binance adds BNSOL to Auto-Invest, “Buy Crypto,” and Binance Loans services, allowing users to purchase it through Auto-Invest starting at 10:00 UTC.
Cryptocurrency exchange Binance announced the addition of Binance Staked SOL (BNSOL) to its Auto-Invest, “Buy Crypto,” and Binance Loans services.
Starting at 10:00 UTC today, users will have the option to purchase BNSOL through any payment methods available on Binance Auto-Invest.
The Auto-Invest feature enables users to automate their cryptocurrency investments using a dollar-cost averaging (DCA) strategy, which helps them grow their holdings over time. With this feature, users can opt to buy cryptocurrencies on a daily, weekly, bi-weekly, or monthly basis. The purchased cryptocurrencies will be deposited into a Simple Earn Flexible Products account.
Users interested in utilizing this function are encouraged to log into their Binance account, navigate to the “Earn” – “Auto-Invest” section, and select BNSOL from the available cryptocurrencies. They can make a Single Token plan for one cryptocurrency or opt for a Multi Assets plan, such as a Portfolio plan to invest in several cryptocurrencies or an Index-Linked plan. Prior to subscribing, users have an option to review the simulated Return on Investment (ROI) based on the selected timeframe.
In addition, users can now purchase BNSOL using VISA, MasterCard, Google Pay, or Apple Pay, or buy and sell BNSOL with their wallet balances via the “Buy Crypto” webpage. Binance has also added BNSOL as a new collateral option for Binance Loans (Flexible Rate) and VIP Loans.
BNSOL: What Is It?
BNSOL is a liquid staking token tied to Binance’s newly introduced Solana Staking product, which provides an opportunity for users to stake Solana (SOL) tokens on the platform, simultaneously maintaining flexibility and control over the assets through the token.
When users stake SOL, they receive BNSOL in return. These tokens enable users to continue earning staking rewards while being able to trade, lend, or utilize their assets within Binance’s ecosystem or across decentralized finance (DeFi) platforms. This product is designed to help users maximize the potential of their staked Solana by offering features such as dynamic rewards, improved liquidity, flexible redemption options, and a user-friendly experience.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
