If you are thinking about where to put your money within the Binance platform, there are various types of wallets, and each has a different use depending on your savings goal. The best wallet for you depends on whether you are looking for security, fixed earnings, or if you're trying to venture into quick profits but with risk.
The first wallet is the "instant wallet" or Spot Wallet. This wallet is like an electronic safe where you store the cryptocurrencies you buy or transfer from other wallets, but it does not provide any earnings. In other words, the cryptocurrencies remain as they are, and you will only profit if the price of the cryptocurrency rises in the market and you sell it. The instant wallet is excellent if you just want to hold your cryptocurrencies or do manual trading (that is, buying and selling for yourself).
If you want to keep your money and earn daily or weekly profits without effort or trading, the right wallet for you is the "simple earnings wallet" or what is known as Simple Earn. This wallet is similar to a savings account in a bank; you deposit your cryptocurrencies and earn profits in return. There are two types: flexible and restricted. The flexible means you can withdraw your money at any time, while the restricted offers you higher profits but you cannot withdraw it until after a certain period, like 30 or 60 days.
If you do not need your money at the moment and can wait for a while, the restricted option is good because it offers a higher return. If you prefer flexibility and want to withdraw at any time, the flexible wallet option is very suitable for you. Earnings in this wallet generally range between 2% and 6% annually, depending on the type of cryptocurrency.
There is also a financing wallet, such as Staking or Launchpool, which means you lock your cryptocurrencies for a certain period, helping to support the network or a new project in exchange for profits. This method offers good profits, but it also requires locking the cryptocurrency and not using it for a while, and the risk is low to medium.
Finally, there is the futures contracts wallet or Futures, which is intended for those with significant trading experience. Here you can obtain large profits in a short time, but at the same time, you could lose everything quickly. For this reason, it is never recommended if you are a beginner or do not wish to take on high risk.
In general, if you are looking for a place to safely store your money and earn a small profit without worrying about losses, I recommend the flexible Simple Earn wallet. If you have an amount that you don't need at the moment and want better returns, try the restricted version. The instant wallet is good for storage and manual trading, but it does not offer earnings, and other wallets like futures are intended for professionals.
In summary: the best wallet for you is the one that aligns with your goal and the level of risk you are willing to accept.