What's Soft Staking?
Soft Staking is a way to keep your crypto in one place on Binance and earn rewards (interest). Currently, it is a type of Simple Earn that is popularly known as Flexible on Binance.
Flexible Earn has many advantages.
(1)_ Withdrawal at any time
In soft staking, your crypto is not locked, so you can withdraw it whenever you want. There is no lock period. For example, some coins such as USDT, BNB, ETH, etc... can be auto-rewarded by staking them in the Binance Earn โ Flexible Section.
(2) _ Earning rewards (interest)
You will earn daily interest for the entire period of your investment in Flexible Earn. The rewards (interest) you receive will not be the same. Depending on the coin/asset you stake, the interest rate (APY โ Annual Percentage Yield) is calculated daily. Typically, you can get 1% to 5%, and some projects can even give you 10%.
(3)- Finally, I would like to mention that Flexible (Soft Staking) is less risky than Locked Staking. This is because if you stake a Crypto and the market suddenly goes down, with Flexible (Soft Staking), you can immediately withdraw your Crypto and sell it without losing much. If your Crypto is Locked Staking during a market down, then by the nature of Locked Staking, you can only withdraw it at a specific date and time, so the loss is greater and the risk is higher.
How to start earning rewards with Soft Staking (Flexible)?
(1) First, you must have a Binance account with KYC.
(2) If you want to stake USDT, you must transfer the amount you want to stake (usdt) to the Spot wallet.
(3) Then go to Earn and select
Simple Earn (Flexible)
Select the type of coin you want to deposit
Select the amount you want to deposit
Click Confirm
Once all these steps are completed, the Soft Staking (Flexible) activation process is complete and your Rewards will be credited to your Spot wallet once a day.
If you are a Long Term Holder, you can make a convenient Staking and receive Rewards.
Let's make a profit with Cryptoโฃ๏ธ
#SoftStaking
Soft Staking is a way to keep your crypto in one place on Binance and earn rewards (interest). Currently, it is a type of Simple Earn that is popularly known as Flexible on Binance.
Flexible Earn has many advantages.
(1)_ Withdrawal at any time
In soft staking, your crypto is not locked, so you can withdraw it whenever you want. There is no lock period. For example, some coins such as USDT, BNB, ETH, etc... can be auto-rewarded by staking them in the Binance Earn โ Flexible Section.
(2) _ Earning rewards (interest)
You will earn daily interest for the entire period of your investment in Flexible Earn. The rewards (interest) you receive will not be the same. Depending on the coin/asset you stake, the interest rate (APY โ Annual Percentage Yield) is calculated daily. Typically, you can get 1% to 5%, and some projects can even give you 10%.
(3)- Finally, I would like to mention that Flexible (Soft Staking) is less risky than Locked Staking. This is because if you stake a Crypto and the market suddenly goes down, with Flexible (Soft Staking), you can immediately withdraw your Crypto and sell it without losing much. If your Crypto is Locked Staking during a market down, then by the nature of Locked Staking, you can only withdraw it at a specific date and time, so the loss is greater and the risk is higher.
How to start earning rewards with Soft Staking (Flexible)?
(1) First, you must have a Binance account with KYC.
(2) If you want to stake USDT, you must transfer the amount you want to stake (usdt) to the Spot wallet.
(3) Then go to Earn and select
Simple Earn (Flexible)
Select the type of coin you want to deposit
Select the amount you want to deposit
Click Confirm
Once all these steps are completed, the Soft Staking (Flexible) activation process is complete and your Rewards will be credited to your Spot wallet once a day.
If you are a Long Term Holder, you can make a convenient Staking and receive Rewards.
Let's make a profit with Cryptoโฃ๏ธ
#SoftStaking
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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