Dear guests of our service!
Staking appeared as an alternative to mining, unlike which you do not need to buy expensive equipment. It is enough just to buy certain crypto-coins and store them on the exchange in your wallet. You will receive income only from the fact that you will hold certain cryptocurrencies on the Binance.
Coin staking is the process of obtaining passive income from storing cryptocurrencies on your wallet in the exchange account. This process is called Proof of Stake (PoS) – proof of ownership.
For the fact that users choose such an algorithm of the blockchain and store coins on the wallet, they are rewarded in the same coins. Receiving a reward for staking attracts a large number of applicants, which in turn ensures the operability of the entire blockchain systеm.
The principle of operation of staking is simple: the more you keep the coins you need for a steak, the greater the reward you will receive.
Types of steak on the Binance
According to the scheme of work, staking is actually the same as a bank deposit with interest. In the bank, you put money at interest and do not touch them for a certain period. And in staking, you put crypto coins at interest and don’t touch them either. The more money you have deposited, the more income you will receive.
The Binance Exchange offers several options for staking options:
Fixed staking (fixed rate deposits);
Perpetual stacking (floating rate deposits);
Fixed Betting (Locked Betting)
The first option is fixed staking, now it is called “fixed rate deposits”. This is actually a complete analogue of a bank deposit. We put (stake) cryptocurrency for a certain period. We can choose the period ourselves from those offered by the service, from a few days to several months.
Indefinite stacking (Flexible Staking)
Perpetual stacking or “floating rate deposit” is, in my opinion, the most interesting way to earn money on staking. In this case, you can “freeze” the coin for any period and receive interest every day. And if necessary, you will be able to pick up your coins at any time, without losing the dividends that have accumulated during this time.
If you are interested in this area of business and passive income, you can invest in cryptocurrency and its staking from $ 150, the term of investments is not limited.