$ETH Yes, it is possible to keep your Ethereum (ETH) on Binance to earn yields. Binance offers several products in its Binance Earn section that allow you to generate passive income with your cryptocurrencies, including ETH.
The most common options for Ethereum on Binance are:
* Simple Earn (Flexible and Locked):
* Flexible: Allows you to deposit your ETH and earn daily yields. The main advantage is that you can withdraw your funds at any time without penalties. The annual yield rate (APR) is usually lower than in locked products.
* Locked: Requires you to lock your ETH for a fixed period of time (for example, 30, 60, or 90 days). In exchange for the temporary illiquidity, you receive a higher yield rate than the flexible option. You cannot withdraw your funds before the lock-in period ends.
* ETH Staking (ETH Staking):
* Staking is the process of "locking" your ETH to participate in the validation of transactions on the Ethereum network, which now uses a Proof of Stake (PoS) consensus mechanism.
* Binance simplifies the staking process for you. Instead of having to operate your own validating node (which requires 32 ETH and technical knowledge), you can delegate your ETH to Binance.
* By staking ETH on Binance, you receive a liquid staking token called WBETH (Wrapped Beacon ETH). This token represents your staked ETH plus the accumulated rewards. The advantage of WBETH is that it is a token you can use in other decentralized finance (DeFi) products while your original ETH continues to generate rewards.
* ETH staking generally offers an attractive yield rate and allows you to contribute to the security and operation of the Ethereum network.
How to get started?
* Log in to your Binance account.
* Go to the "Earn" section in the top menu.
* Search for Ethereum (ETH) in the list of available assets.
* Select the product that best suits you (Flexible, Locked or ETH Staking).
* Enter the amount of ETH you wish to stake and confirm the operation.
Important considerations:
* Risks: While these products allow you to earn yields, the value of Ethereum is volatile. A drop in ETH price could outweigh the gains you earn from the yields.
* Terms and conditions: It is essential to read and understand the terms of each product, including interest rates, lock-in periods, and any other conditions.
* Variable yield: Yield rates (APR or APY) may fluctuate based on market conditions and the network.
In summary, Binance offers a simple and accessible way to put your Ethereum to work to generate passive income through products like Simple Earn and ETH Staking.
