What is staking and how to earn from it?
✅Staking is a way to earn on cryptocurrency by locking coins to support the blockchain's operation. The user deposits assets into a staking pool and receives rewards in the form of new tokens.
How to get started?🫣
1. Go to the Binance Earn section.
2. Choose a coin (for example, ETH or ADA).
3. Specify the amount and the locking period.
The longer you participate, the higher the income. Staking is suitable for long-term investors.
✅Deposits on Binance: how do they work❔
A deposit on Binance is a way to earn passively, similar to a bank deposit, but in cryptocurrency.
TWO types of deposits:
💎Flexible deposit: Allows you to withdraw assets at any time, but the interest is lower.
💎Fixed deposit: Locks funds for a term (for example, 30 or 90 days) with higher returns.
💎Just select the desired product in Binance Earn, deposit assets, and earn interest.
✅What is a liquidity pool?
💎A liquidity pool is a mechanism of decentralized exchanges where traders swap assets. You can become a liquidity provider by depositing token pairs, such as USDT and BNB.
How to earn?
💎Deposit assets into the pool.
💎Earn a commission from the trades of other users.
💎Liquidity pools are attractive to experienced users, but it's important to consider risks such as 'impermanent loss'.
All three tools provide an opportunity to earn passive income and manage crypto assets. 🚀