Binance, the largest crypto exchange in the world, has added XRP to its list of dual investment products. The exchange published an official blog to announce the new listing. The exchange will also launch a fresh batch of Dual Investment products with revised Target Prices and Settlement Dates. Users can use the new products to utilize Binance’s Sell High or Buy Low products.
As per the official announcement, the new XRP product will be available for trading on the 4th of October 2022, at 10:00 UTC. Moreover, the subscription format will be on a first-come, first-served basis.
Additionally, the APR (annual percentage rate) for the product ranges from 4% to 179%. At press time, XRP was trading at $0.453423, up by 0.8% in the last 24 hours.
What are Binance’s dual investment products?
Dual investment products allow users to acquire or sell cryptocurrencies at their preferred price and date in the future, without any fees. “Sell high” users are those who want to get rewards on crypto holdings, or who want to sell crypto for a higher price in the future.
On the other hand, “buy low” users are those who want to earn rewards on stablecoin holdings or want to purchase crypto for a lower price in the future.
To use dual investment products, users need to go to Binance’s dual investment page, and select the currency they want to buy or sell. Users then need to choose if they want to sell high, or buy low. Then users can select their desired price (“Target Price”) and desired date (“Settlement Date”) to buy or sell, and put in the subscription amount.
The official announcement noted that dual investment may stop accepting new subscriptions at any moment. Moreover, the APR would change in real-time, depending on market fluctuations prior to subscription.