How Blockchain Relates to Your Queries

Cryptocurrencies and Bitcoin:

Blockchain is the technology behind all cryptocurrencies. Bitcoin operates on its own blockchain, recording every BTC transaction (e.g., your 0.01 BTC transfer).

Other cryptocurrencies (e.g., Ethereum, USDT) use different blockchains, supporting diverse functions like smart contracts or stablecoins, as you asked about in “cryptocurrency vs. Bitcoin.”

Example: When you buy 0.008 BTC ($500) for investment, the purchase is recorded on the Bitcoin blockchain.

Binance Earn:

Deposits in Binance Earn (e.g., USDT, ETH) involve blockchain transactions. For instance:

Staking ETH: Locked on the Ethereum blockchain to earn ~4% APR.

USDT Savings: Recorded on Ethereum or BNB Chain, with rewards tracked off-chain by Binance.

Example: Depositing 200 USDT in Simple Earn creates a blockchain transaction to Binance’s wallet, ensuring security.

Earning Crypto:

Mining (Bitcoin): You contribute computing power to add blocks to the Bitcoin blockchain, earning ~3.125 BTC per block (post-2024 halving).

Staking (ETH, ADA): You lock funds on a Proof of Stake (PoS) blockchain to validate transactions, earning 3-10% APR.

Example: Mining with an Antminer S19 adds a block to the Bitcoin blockchain, earning ~$187,500 at $60,000/BTC.

Investing and Transfers:

Blockchain ensures secure, transparent transfers (e.g., withdrawing 0.01 BTC from Binance to a Ledger wallet, as you asked).

Each transaction is verified by nodes, added to a block, and confirmed (10-60 minutes for Bitcoin), preventing fraud.

Example: Your Bitcoin transfer pays a ~$1-$10 fee, recorded on the blockchain, visible to all nodes.

Avoiding Scams (e.g., MTFE):

Blockchain’s transparency lets you verify transactions, unlike MTFE’s opaque platform, which faked trading data and wasn’t blockchain-based.

Example: Check Binance’s deposit address on the Bitcoin blockchain to confirm legitimacy, avoiding MTFE-like scams.