Today we will talk about one of the most popular passive income opportunities on Binance — staking!
What is staking?
Imagine that you have crypto just sitting in your balance. Now imagine that instead of it just gathering dust, you can 'stake' it and earn rewards for it!
Staking is when you lock your coins in the network to support its operation (for example, confirming transactions) and for this, you earn interest — like a deposit in a bank, but in the crypto world.
What types of staking are available on Binance?
1. Fixed staking ⏳
You 'freeze' your coins for a certain period (for example, 30, 60, or 90 days) and receive a fixed reward.
2. Flexible staking 🔄
You can withdraw your coins at any time, but the income will be slightly less than with fixed staking.
3. DeFi staking ☁️
Binance helps you invest in decentralized protocols (like PancakeSwap or Aave), where you can also earn interest. But the risks are a bit higher here.
How to start earning from staking on Binance?
Everything is very simple:
1. Log in to the Binance app or website.
2. Go to the 'Earn' section → 'Staking'.
3. Review available coins and offers: for example, ETH, SOL, ADA, and many others.
4. Choose the coin you are interested in, click 'Stake Now'.
5. Specify the number of coins and confirm.
That's it! Now your coins are working for you!
What to pay attention to?
• Lock-up period: if you choose fixed staking — the coins cannot be withdrawn until the end of the term.
• Annual yield (APY): the higher the APY, the more you can earn. But also pay attention to the risks!
• Risks: the coin's price may drop, and even the earned interest may not cover the losses. Be careful.
Why is this cool?
• Passive income without much effort.
• Instead of the crypto just 'sitting', it works for you.
• Binance makes everything as simple as possible even for beginners.
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