Lending on Binance

Has anyone tried out Binance´s lending product they just launched? I`m considering moving some coin their to get some interest.

https://www.binance.com/en/lending/

What do you mean? Are you looking to lend, as in it's a bond market, of sorts? Kinda like crowd lending - Lending Club or Prosper?

I've never heard of Binance lending.

If you are just looking to earn some interest, there are "crypto savings accounts" out there.

I've never used Binance lending or a crypto savings account though.

If a crypto exchange has margin trading, then it needs "lender" for those who are gonna trade by borrowing.

For example here are the rates that bitfinex pays you: https://photoshar.in/bitfinex-loan-rates

I'm not going to test it because profit is too small. It's a shame to freeze capital.
I'm also a bit surprised that Binance decided to take such step. Paying fixed percentage is not best associated. I will only mention Bitconect and other similar programs. In the case of Binance there is no cheating, but I don't go in this because it pays too little.

I have received several payments. I recommend to try this platform.

Be careful with Binance, they have been targeted and blacklisted by regulators all over the world, from the UK to Malaysia, and it has been going on for quite a while now.