With Binance staking you can earn a passive income up to 25% per year. We will explain how you can get this interest step-by-step in this article.
Binance offers staking with many different alternatives for locked staking, flexible staking and Defi staking. We will go through the differences between those terms, what coins you can stake and how much return you can expect from the staking.
How to enter the Binance staking?
Below you see the Binance page after you have logged in to your account. Go in under Finance tab and select Staking.
After this, you will enter the staking area at Binance. Here, you can see that you are able to choose between locked staking, flexible staking and Defi staking as shown in the picture below.
Binance Locked Staking 2.8-16% APR
Binance locked staking offers you to lock your cryptocurrencies over a predetermined period of time to obtain returns. The longer you lock them, the higher the return you will get. You can choose between periods of 7 to 90 days.
What coins are available for Binance locked staking?
Below you can see a screenshot on what coins are available for locked staking at Binance. Also, it is possible to read the maximum estimated annual yield which ranges from 2.8% up to 16%. You will always receive to highest yield when you lock for the longest period available for that specific coin and this you find under the tab locked period days. In addition, you find the minimum locked amount for each coin and the unlock period for each coin.
Available coins for locked staking at Binance are EOS, BAND, XEM, IRIS, DASH, GXS and ONE.
Binance Flexible Staking 1-16% APR
Binance flexible staking offers you to earn interest on certain cryptocurrencies without a locking period. This is much better than locked staking if you dont know for how long you can lock your coins. However, usually this also comes with a lower return on investment (ROI).
What coins are available for Binance flexible staking?
Below you can see a screenshot from the Binance flexible staking. As you can see there are many cryptocurrencies available for this service and the expected ROI is between 1-16% which is great for flexible staking.
Available cryptocurrencies for flexible staking at Binance are SXP, KNC, TOMO, Ark, EOS, ARPA, Lisk, THETA, LOOM, KAVA, Tezos, ATOM, TRON, Algorand, Harmony ONE, Fetch.ai, Stratis, QTUM, Komodo, Vechaing and Ontology.
Binance Defi Staking 12-25%
Binance Defi staking allows you to stake Defi projects. DeFi (Decentralized Finance)provides financial services to users through smart contracts. Existing DeFi projects aim to provide higher annualized earnings for specific currencies.
Binance has a specific warning for Defi staking: “Binance strives to offer its users only the best DeFi Mining projects. However, Binance only acts as a platform to showcase projects and provide users with related services, such as accessing funds on behalf of the user and distributing earnings, etc. Binance does not assume liability for any losses incurred due to project on-chain contract security issues.”
What coins are available for Binance Defi staking?
Binance defi staking offers an annual return of 12-25% according to the print screen below.
Available cryptocurrencies for Defi staking at Binance: Kava BNB and Compound DAI.
Conclusion Binance Staking
Binance is the largest cryptocurrency exchange which probably add a lot of confidence into these products. However, you must always remember that investments always come with certain risks. Binance has declared some of these risks and there is always risk that the account can be hacked, the return can change over time and the underlying asset can decrease over time. Still, we believe this is a very good way to earn some passive income on your crypto holdings and we use this service ourselves for Algorand, TRON and Tezos.