Welcome, in this article we focus on Binance locked staking features and what rewards you can get in 2021.
We will describe what Binance is and what Binance locked staking is and why you can get rewards by staking your cryptocurrencies.
Further, we will compare Binance staking VS Kraken staking and VS Coinbase staking.
Binance locked staking offers you a great opportunity to earn crypto passive income.
What is Binance?
Binance was founded in 2017 is the world´s largest crypto exchange. Nowadays, Binance is offering many different features like trading, P2P trading, margin trading, futures trading, and Binance Earn.
Binance Earn is a feature where you can earn passive income on your cryptocurrency holdings. Here, we will go into deep with regards to locked staking which is a part of Binance Earn.
You will find Binance Earn under Finance in the top menu at Binance. After this, you have to search for your particular cryptocurrency of interest. If available, all current options are listed and you just click “Stake” to proceed.
What is Binance Locked Staking?
Binance locked staking is a feature on Binance Earn where you lock your crypto to earn rewards as passive income.
You don´t have do to anything more than sign up for 15, 30, 60 or 90 days and after this your account will be credited on daily basis.
What is Binance Flexible Savings?
Binance flexible savings is a feature on Binance Earn where you can earn passive income on your crypto holdings without having to lock them up for a certain period as is the case for Binance locked staking.
Read more about Binance flexible savings review.
Binance Locked Staking Passive Income
With Binance locked staking you can earn very good rewards and ROI(return on investment) and the best of all, it´s completely passive income.
Read more about how you can invest in cryptocurrencies to earn passive income.
Binance Staking VS Kraken Staking
Here, we will compare Binance staking VS Kraken staking so you easily can see where to get the best yields and earn the best ROI.
Kraken staking has no lock up periods and you can unstake your cryptocurrencies as you like. However, remember that staking Ethereum 2.0 is different and the only option to redeem this stake is to sell it in the market.
Binance Staking VS Coinbase Staking
Here, we will compare Binance staking VS Coinbase staking so you easily can see where to get the best yields and earn the best ROI.
You can opt out your staking at any time with Coinbase.
To opt out of staking rewards on Coinbase:
On web: Go to Settings and select Financial Services. From there, you can toggle the Rewards icon off to opt out
On mobile: Go to Settings on the iOS or Android app and select Financial Services. From there, you can toggle the Rewards icon off to opt out
Risks with Binance Locked Staking
What are the risks with Binance locked staking?
We will list the risks we have identified and addressed associated to Binance locked staking. However, there might be more risks and some risks are even individual
- Your capital (cryptocurrencies) are locked for a certain period. During this period you might need them or the cryptocurrency might decrease in price
- Binance can get hacked
Binance Locked Staking Pros and Cons
As for any investment, there are pros and cons with Binance locked staking.
It´s always up to you to compare the proc and cons based on your personal situation and decide, whether or not, its worth to take the risk to earn the passive income for the locked staking
- Binance locked staking give you the best yield for many cryptocurrencies. This is especially true for Solana, Algorand, Binance Coin and more
- Binance is the largest centralized crypto exchange
- Your cryptocurrencies are locked for a certain period of time
- Binance can get hacked and you are not in control of the private keys
- You have to renew the locked staking after the lock up period. There is no automatic renewal feature