The largest cryptocurrency exchange in the world, Binance, now offers XRP as a dual investment product. The new listing was announced on the exchange’s official blog.
The exchange will also release the latest Dual Investment products with updated Target Prices and Settlement Dates. Users can leverage the new items to utilize Binance’s Sell High or Buy Low products.
According to the official release, the new XRP product went live for trading on October 4th, 2022, at 10:00 UTC. In addition, subscriptions will be available on a first-come, first-served basis.
The product’s APR (annual percentage rate) varies from 4% to 179%. At the time of publication, the price of XRP was $0.4777, up 5.6% over the previous day.
Dual investing solutions allow users to buy or sell cryptocurrencies at a future date and price of their choosing without paying any fees. Users who “sell high” aim to profit from their cryptocurrency investments or sell their cryptocurrency at a higher price in the future. Users who “buy low” want to get rewards for holding stablecoins or want to buy cryptocurrencies at a lower price in the future.
Users must visit Binance’s dual investment website and choose the currency they wish to buy or sell to use dual investment products. After that, users must decide whether they wish to sell high or buy low. Then consumers can choose the price they want to pay (“Target Price”), the date they want to buy or sell (“Settlement Date”), and the subscription payment.
According to the official announcement, the dual investment may stop accepting new members anytime. Also, the APR would fluctuate in real-time in response to market swings prior to subscription.
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