how does staking work on Binance? in this article in shetcoiner website we are introducing Staking features and teaching the way of getting profit from Staking in Binance, so stay with us to the end of this article.
Binance is a well-known crypto currency trading platforms. The exchange started operating on July 14, 2017 and has a wide range of crypto currencies. This exchange with many facilities and support for different currencies has been able to attract many users around the world. Many people use this exchange when they want to enter crypto currencies and check its services. In the 2018, this exchange was recognized as the largest exchange in terms of the volume of financial transactions. The exchange also launched a currency called BNB, which became very popular. This currency has been recognized as one of the best crypto currencies and has attracted many investors.
Teaching Staking in Binance
Staking is a cryptocurrency in Binance exchange and an awesome way to make long time profit for investors. Thanks to this feature, you can have income by just buying a cryptocurrency and without any activity or trades. This investing progress works based on PoS algorithm.
For using this ability, you just need to buy enough amount of currency that has Staking feature in Binance with a good yearly profit, then transfer your wallet to Binance exchange and in the Earning section look for different types of cryptocurrencies that have the Staking feature.
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Staking different types
In Binance exchange there are two types of Staking like other currency exchanges:
- Fixed Staking
- Flexible Staking
In the first type of Staking (Fixed) you will receive a fix yearly profit after that you assigned your cryptocurrency to this contract and you don’t need to be worried about your profit the market value is descending.
Fixed stacking has now become one of the methods of market control by exchange offices. For example, exchanges such as Binance help control fluctuations by providing high annual profits to maintain a new cryptocurrency.
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New coins that come to market usually always benefit from sharp fluctuations, and these sharp fluctuations are not desirable for the long-term buyer, but the exchanges and the manufacturers of these coins by giving their contracts with the exchanges in giving a fixed annual profit to those Who perform the fixed stacking process, provide the opportunity to reduce their cryptocurrency fluctuations and bring their coins to the top coins on the market.
In the fixed stacking process, you can also stack your cryptocurrency for other periods instead of annually, for example for 15, 30 or 60 and 90 days.
In the second type of Staking that is called Flexible Staking, the amount of your profit may change. For example, when the market value is rising your profit will increase of when the value in the market is descending your profit will decrease. In the Flexible investments, there is a high level of risks and you should not do it without full information about it.
In the flexible stacking process, exchange offices enter into a contract with the manufacturer or the aforementioned cryptocurrency manufacturer to make flexible profits annually or at shorter intervals.
These time intervals can be between 7, 10, 15, 30 or 60 days or more.
Binance’s BTC minimum trade amount
Staking in Binance is one of the ways for being far from market’s swing and cryptocurrencies price drop in market. You can easily invest on Stable Coin Tether or Binance Coin in Staking when the market value is descending and you don’t want to invest directly in it and have a fix and risk-less profit.