On the 7th of November 2023, Binance, the world's largest crypto exchange platform in terms of volume, announced the introduction of a Tether (USDT) earning program with up to a 13% annual percentage yield (APR) for its users and investors.

With this new program, Binance is offering investors and users of the exchange platform an opportunity to earn up to a 13% annual percentage yield. This is exciting news; however, please note that this offer is only available for a limited time. Only the quickest participants will be able to benefit from it. The program commenced on November 7, 2023, and will conclude on November 13, 2023. If you're reading this now, you're still in time to participate!

“Back by popular demand... you can now earn up to 13% APR with $USDT on #Binance Earn!

Subscribe to $USDT on Simple Earn Flexible Products to enjoy the exclusive bonus rate, limited time, and first-come, first-served only.”

Binance announced on its X account. In the announcement, the exchange noted that all users who hold open positions for USDT Flexible Products will receive both Real-Time APR and Bonus Tiered APR rewards during the Promotion Period. Once the promotion ends, users will be entitled to Real-Time APR rewards only.

The exchange platform won't be the first to run this type of program; in fact, many different cryptocurrency exchange platforms and businesses have previously offered rewards on crypto assets to their users. Unlike Bitcoin and Ethereum, stablecoins such as USDT and USDC are in higher demand and typically yield more rewards.

Source : Bitcoinmarketjournal.com

According to Bitcoin Market Journal Statistics, it shows the Nexo platform offers up to 16% APY on USDT deposits, Coinloan offers 6% APY on USDT and USDC, Youhodler has a 12% yield, and Crypto.com offers up to 6.5% APY on USDT and DAI.

Binance is presently the largest centralized cryptocurrency exchange platform. The platform lists 402 cryptocurrencies, supports 11 fiat currencies, and offers 1,591 markets (cryptocurrency trading pairs). The most popular trading pair on Binance is BTC/USDT. According to nansen.ai statistics, out of the 85.73 billion Tether in circulation, Binance holds a significant 20.70% of the entire supply, rendering the reward program an excellent choice.

What are you thoughts on this USDT earning program? Do you think it is ideal? Let us know in the comment section.