Step By Step Guide on How to Stake Coins on Binance Exchange and Earn Interest
Check this guide before staking your coins.
Binance crypto exchange offers different types of “earn interest” programs.
For example, using the “Flexible Savings” option, you can subscribe your crypto to earn interest, with the flexibility to redeem your funds at any time. After subscribing, you will receive Flexible Savings assets. Interest calculation starts on the second day. Using this option, you can expect APYs between 0.3% to 4% approximately.
ETH 2.0 Staking, BNB vault, and Liquid Swap are some other options.
However, if you want to stake your coins, you have to use the “Locked Staking” option. According to Binance:
“Locked Staking” is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. From 0:00 AM (UTC) on the day after Locked Staking is confirmed to the end of the corresponding product period, the staking interest is distributed on a daily basis. Also, users can choose to redeem in advance. After choosing early redemption, the principal will be returned to the spot account, and the distributed interest will be deducted from the refunded principal. Due to different global time zones, it takes 48–72 hours to receive the…
