Our FAQ series on Binance is doing well. Hence, we have part #4 for you here. We answer more Binance-related questions for you. This time around, we look at staking, trading, Binance US, the ‘Earn’ option, and futures.
In case you want to catch up with our earlier Binance FAQ series, you can look up part 1, part 2, and part 3. So, let’s have a look at what we have cooking on new Binance FAQs.
How Binance Staking Works
You can stake a variety of coins on Binance. They offer a flexible or locked staking option.
Here are the options that Binance offers.
- Locked staking — At any given time, Binance offers around 100 different coins for this. Locking periods range from 120, 90, 60, to 30 days. The longer the staking period, the higher the reward. For example, Moonbeam (GLMR) currently gives 59.8% for 120 days. However, the max amount you can stake is 20 GLMR. On the other hand, 30 days staking GLMR gives you a 7.9% reward, but you can stake a lot more coins. It’s worthwhile to check this page on a regular basis, to see new additions and rate changes.
- Flexible DeFi staking—For example, BNB at 3.59%. You can redeem your staked assets at any time.
- DeFi staking—Binance offers ~15 tokens here. It’s a mix of flexible and locked staking. That differs between coins. For example, currently dYdX staked for 30 days gives a 9.5% APR. On the other hand, BUSD for 120 days earns a 10.73% APR, but it’s already sold out. The flexible lock option earns you a 1.25% APR with a limit of 40,000 BUSD. Once more, it’s worthwhile to check this page regularly for updates.
Look at our comprehensive article about staking on Binance.
We will also temporarily suspend $BETH deposits and withdrawals, tentatively from 12:00am UTC on September 14 to 12:00am UTC on September 16, 2022.
After the merge, ‘ETH 2.0’ Staking on #Binance will resume.
— Binance (@binance) August 25, 2022
How Binance Futures Work
Futures are part of a complex trading strategy. It requires a good understanding of the market. Since you need to use margin, it can be very lucrative. On the other hand, you can also lose an essential amount of money if the market goes against you.
With Futures, you buy an asset in the future, at a predetermined price and date. Binance made trading Futures look like the Spot trading exchange. This added to the Binance Futures trading platform becoming a popular one. Take a look at our extensive article, if you want to find out more about how to trade Futures on Binance.
According to the data from https://t.co/OiMrtCRWZD, @Binance leads both, #Bitcoin and #Ethereum markets by daily futures volumes:
24H #BTC Futures Volumes – $30.4B
24H #ETH Futures Volumes – $34.9B
Derivatives analytics 👉 https://t.co/G24pDZM43L pic.twitter.com/DfCOXbMJXk
— CryptoRank Platform (@CryptoRank_io) August 23, 2022
How Binance US Works
In 2019, Binance was no longer allowed to operate in the US. This was due to regulatory issues. In a partnership with BAM Trading Services, they set up Binance US. As a result, this company adheres to US laws and regulations. It’s a carveout only for Americans.
Binance redirects all US citizens who want to register on their platform to Binance US. Currently, there are four states where Binance US isn’t available yet. These are Hawaii, New York, Texas, and Vermont. However, Binance US aims to gain access to all states.
They don’t offer as many coins as Binance Global and have a lower trading volume. Nonetheless, for US citizens, Binance US is a viable crypto trading option.
We wrote already a comparison about Binance vs Binance US. This explains a lot about how Binance US works.
The best #crypto platform for low fees just got better. #BinanceUS is the first major platform to offer zero-fee #bitcoin trades for BTC/USD, BTC/USDT, BTC/USDC & BTC/BUSD spot pairs, for all users without trading volume requirements.
Read: https://t.co/UYvNNvael2 pic.twitter.com/YDV0x3dfcJ
— Binance.US 🇺🇸 (@BinanceUS) June 22, 2022
How Binance Earn Works
Binance Earn gives you a whole spectrum of different earning options.
- Flexible — The only thing you need to do is visit the ‘Earn’ page, look for savings and click the button. For instance, 5% on BTC. You can redeem your assets at any time.
- Locked — Lock your coins for 7 to 120 days and earn up to 35% on selected tokens. Check this page regularly, since offers change constantly. Some offers are popular and sell out quickly.
- BNB Vault — A combination of Launchpool, Savings, and DeFi staking. For BNB only.
- Auto-invest —A DCA (Dollar Cost Averaging) strategy. Read our thorough article on Auto-invest and DCA.
- Locked and DeFi Staking — As described before.
- ETH 2.0 Staking — You can join ETH 2.0 staking before The Merge.
- DOT Slot Auction — When there are DOT slot auctions, stake your DOT.
- Liquidity Farming — Provide liquidity and earn farm rewards and transaction fees.
- Swap Farming — Almost easier than Spot trading, and earn BNB rewards on selected swaps.
- Launchpool — Newly launched tokens. Stake them and earn rewards.
Buy crypto at a lower price or sell crypto at a higher price in the future. In the meantime, earn rewards from interest.
We wrote an in-depth article on Dual Investment Program for more details.
Source: Binance Earn
How Binance Trading Works
Binance Trading works in a user-friendly way. So, two easy ways to start trading are,
- Spot trading — Buy or sell crypto with some extra tools. For instance, market-, limit-, or stop-limit orders.
- Binance Swap — Trade by swapping crypto. In the meantime, earn BNB rewards on selected swaps.
We wrote articles on both options. Please click on the links above to access them.
Enjoying 0 fee #BTC trading?
Well, we've got more good news for you. $ETH trading will soon be free on #Binance too!
Starting from August 26, you'll pay 0 fees when trading the $ETH/#BUSD spot trading pair.
➡️ https://t.co/FeELJnBu0P pic.twitter.com/rdydMACG60
— Binance (@binance) August 23, 2022
We hope you enjoyed this new Binance FAQ article. Binance FAQ Part 5 and Binance FAQ part 6 are on their way. We will update the links once we release them. In case you haven’t signed up yet to Binance, find out how to do that here.
- Get a $100 instant bonus with a first-time deposit of $50 within 7 days,
- Get a 20% trading fee discount for life!
- Get $200 worth of 2 months Altcoin Buzz Access PRO Membership (50+ Trading Signals, Hidden Gems) and unlock up to $500 more in prizes
For further details, visit our special Binance Page. Terms & Conditions Apply.