Binance FAQ

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.

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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.

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.

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.

How Binance Earn Works

Binance Earn gives you a whole spectrum of different earning options.

Savings

  • 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.

Staking

  • 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.

Farming

  • 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.

Dual Investment 

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.

Binance

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.

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.

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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Binance. Copyright Altcoin Buzz Pte Ltd.

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