Yes, you can participate in BNB staking, straight from your wallet - however, if you’re looking to stake some altcoins, Binance is actually the perfect place to do so.Īs of writing this tutorial, with Locked Staking, you will be able to stake 104 different cryptocurrencies. However, once again - the fact that users have a choice is awesome! Note, though, that these staking types are only going to be available with the international Binance platform - if you’re looking at how to stake on Binance US, your options are going to be limited to a single type of staking ( more on that later).Īnother immediately-evident feature that you’ll notice is the variety of coins and tokens available to be staked on Binance. Yes, the APYs are going to be rather different, depending on the type of Binance staking that you choose. This, in turn, removes the hassle of dealing with the technicalities from you ( the user), and allows you to simply enjoy the passive interest that will start accumulating with time. Specifically, it refers to the more traditional exchange-based staking functionality - one where the exchange platform aggregates user funds, and stakes them, on various decentralized finance projects. With Locked Staking, you will be able to choose the period of time for which you want to lock your funds.ĭeFi Binance Staking, as the name suggests, is quite different. Your cryptocurrencies will then support the processes happening on the blockchain. Locked Staking means that you will lock your designated funds in a separate Binance wallet ( one that’s separate from your spot trading Binance wallet). Mostly, the differences lie in risk and APYs ( Annual Percentage Yields). Locked Staking and DeFi staking are going to appeal to different types of people. That’s already quite unusual, and a huge benefit - it’s not something that many other crypto brands can offer! Yup, that’s right - there are two different staking method options for anyone who’s interested in Binance staking. One of the biggest benefits that you’ll see, right off the bat, is the fact that there are two big choices for you to make - whether you want to participate in Locked Staking, or DeFi Staking. Whether you’re looking for BNB staking, or how to stake on Binance US, the staking benefits offered by Binance are definitely worth considering. Let’s talk about that, shall we? Staking on Binance: A Smooth and User-Friendly Experience The marketplace itself has a variety of additional features and benefits - some of which are completely exclusive to Binance!Īmong all of the services offered by the platform in question, naturally, you have Binance staking - a dedicated section of the website where you can earn passive interest on some of your crypto assets. Being primarily known as a cryptocurrency exchange, it’s so much more than that!īinance has a dedicated NFT marketplace - a place where artists can upload their work, purchase and sell NFTs. It’s not a country- or region-specific service - instead, every few months, you can see Binance making the news, regarding some new country that it started operating in.Īnother point that’s likely super-important to anyone who’s looking for Binance staking options is the fact that Binance has a huge selection of different services available on their platform. These are among the main reasons why Binance has been as successful as it is, worldwide. In its own right, Binance has managed to not only become one of the recognizable names in the industry, but also showcase that the company cares both about security, as well as KYC compliance, exponentially. While these titles might not sound like a big deal to some, if you know anything about the crypto industry, one thing’s for sure - time spend on the market and project reputation are exceptionally important. As you can imagine, this isn’t without good reason, either!įor starters, let’s get the obvious out of the way - Binance is the largest cryptocurrency exchange on the planet, and also among the most respected crypto-related platforms, in general. So - why stake crypto on Binance? Well, multiple reasons, really! At the beginning of this Binance staking tutorial, I’ve pointed out that Binance is often considered to be one of the best staking platforms on the market. Unless stated otherwise, though, all of the features I’ll be mentioning will relate to the former platform. If you’re looking for staking, though, read on - I’ll be talking about that, too. Naturally, the first question that you might have is this - why should anyone use Binance staking, specifically? The Benefits of Binanceįor the sake of clarity, keep in mind that I’ll be talking about the international version of Binance. So, we won’t spend too much time discussing what is staking - instead, we’ll focus on the process of doing so with Binance.
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