Binance Review : Is Binance safe and legit to invest in?
What is Binance?
- Binance is an exchange platform where users around the world can deposit their cryptocurrency and exchange it for other currencies for very low fees, buy cryptocurrencies, send to other users and even SPEND it in the real world. The latest feature on Binance is Binance Pay ( where you can apply for a Binance Card and use it in the real world using you crypto. Binance offers many options for trading, lending, borrowing, stacking, earning passive income, bonuses, competitions, NFT marketplace, launchpads, saving methods, farming, liquidity options, investment options and many other things.
- Binance Pay is a system made for payments around the world for very low fees and almost instant transactions. You can use you cryptocurrencies to shop and even send it to your friends and family members. For now Binance Pay is available only in limited number of countries where you can freely use your card to shop and spend your crypto.
How can I Earn money in Binance?
- There are many ways to earn money in Binance. You can choose from Staking, Saving, Liquidity farming, Auto-Invest option, Pool farming, Eth2.0, Dual Investment, Lauchpads and BNB vault.
How much can you earn from staking Binance?
-Staking will lock your funds for a period of time that you chose and will give you different % depending on the coin. Remember the % that are given are on a yearly basis. So if you choose for example ADA, and you lock it on 30 days period, you will get 4,31% ( this 4.31% is on a yearly basis - if you want to calculate the earnings for 30 days period, just divide 4,31% with 12 months and you will get the earnings for a given period)
-What coins can you stake on Binance?
-There are many coins that you can stake on Binance at the moment.
Some of them are : ADA, FTM, STX, SOL, NEAR, FLOW, SAND, BTTC, BSW, AVAX, CAKE, ZIL, AXS, KSM, ONE, WAVES, ALGO, ROSE, TRX, BNB, DOT, SHIB, FIL, VET, XTZ, MATIC, IOTX and more.
-What is staking lock time and how lock can i stack my funds?
- You can choose all this coins to stack and lock your funds for a certain period of time.
You can choose from:
- 30 days period (which usually gives the lowest %)
- 60 days period
- 90 days period(which usually gives the highest %)
Sometimes there are new promotions which will allow you to stack you crypto for 120 days and will give you very good percentages. If a coin is sold out, that means you will have to wait for another person that has already staked it, to pass the time and when a new spot opens you can stack your funds. There is a "Reminder" option which you can select, and it will notify you when a position on a coin is now open so you can stack your crypto.
What does flexible Savings mean on Binance?
-Flexible Savings does allow you to Stack your crypto but Not as Staking your crypto does. The difference is that Flexible Savings gives you % earning on a daily basis and Staking
your crypto is for minimum of 30 days. Flexible Savings allows you to redeem your crypto the same day without any losses and Staking will redeem your crypto the same day you ask BUT it will cost you all your previous earnings when stacked. So you stack a coin on 30 days and you want to redeem your crypto on the 20-th day - you will have to pay back the earned crypto in the previous 20 days.
Flexible Saving locks your crypto on a daily basis so you don't lose any earnings.
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