17 May How to Save as an Individual on Xend Finance using the website
Xend Finance allows you to save a portion of your income and get significant return allowing you to reach your financial goals quicker.
The currency you use to save is BUSD, a stable currency pegged to the Dollars.
1 BUSD = 1 Dollar.
So, basically, you’re saving in dollars, preserving the value of your savings.
To save on Xend Finance you need BUSD and BNB for transaction fees.
You have two savings options:
- Flexible Savings: Save, withdraw, manage your money for free at any time with up to 15% annual percentage yield (APY) and interests distributed daily. It's suitable for savers who need flexibility for their cash.
- Fixed Savings: Lock cash away for a fixed period of time with no access to it until maturity. It‘s suitable for users who need to save cash for a long time and earn better returns.
Steps to make personal savings on Xend Finance
- Download MetaMask from https://metamask.io/ on your Google Chrome or Firefox
- Set up your MetaMask for Binance Smart Chain
Setting up your MetaMask
- Access the Settings on MetaMask
- Locate the Add Network in Settings
- Click the Add Network and input these details in the fields:
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com
- Save and leave the Settings
Buying BUSD & BNB
- Visit Binance.com to buy BUSD & BNB
- Copy your wallet address from Metamask
- Do a withdrawal from Binance to the copied address
Save your personal savings on Xend Finance
- Click on Personal Savings on bsc.xend.finance
- Choose between Flexible and Fixed savings
- Input the amount of BUSD you want to save
- Click Save and connect to MetaMask
- Click Confirm and you have started saving on Xend Finance.