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SPOT WALLET VS FUNDING WALLET
Spot Wallet in Binance is used for trading cryptocurrencies directly on the exchange platform. Users can buy, sell, and hold various cryptocurrencies in their Spot Wallet. Any funds in the Spot Wallet can be used for trading, withdrawing, or transferring to other wallets.
Funding Wallet on Binance is used for providing funding for margin trading. Users can transfer funds from their Spot Wallet to the Funding Wallet to earn interest by lending their assets to other traders. The funds in the Funding Wallet are not available for regular trading, withdrawal, or transferring to other wallets until the lending period is over.
Example:
- If you want to trade Bitcoin for Ethereum on Binance, you would use your funds from the Spot Wallet.
-If you want to earn interest by lending your USDT to margin traders, you would transfer your USDT from the Spot Wallet to the Funding Wallet.
#Write2Earn
Spot Wallet in Binance is used for trading cryptocurrencies directly on the exchange platform. Users can buy, sell, and hold various cryptocurrencies in their Spot Wallet. Any funds in the Spot Wallet can be used for trading, withdrawing, or transferring to other wallets.
Funding Wallet on Binance is used for providing funding for margin trading. Users can transfer funds from their Spot Wallet to the Funding Wallet to earn interest by lending their assets to other traders. The funds in the Funding Wallet are not available for regular trading, withdrawal, or transferring to other wallets until the lending period is over.
Example:
- If you want to trade Bitcoin for Ethereum on Binance, you would use your funds from the Spot Wallet.
-If you want to earn interest by lending your USDT to margin traders, you would transfer your USDT from the Spot Wallet to the Funding Wallet.
#Write2Earn
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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