Hello. This video a review of Deposits, Staking, and Mining Pool in BINANCE. All 3 options are included in the Binance Finance system. That is, Binance offers tools for investing in cryptocurrency in order to get a percentage growing like in a normal bank. This is a very interesting proposal because the risks are less than with crypto trading. About everything in order, I will tell you further.
Deposits and Binance Savings
Deposits or Binance Savings is an easy way to invest in Binance for passive earnings. You lend your money to the crypto exchange and get a reward for it. To learn more, go to the main page of the BINANCE website, category “Finance”, select the “Savings” page. The first field has deposits “Flexible Savings”.
There is a small percentage, but there are few obligations on you. At your discretion, invest the amount for a short period and withdraw it at any time for your needs. Below, the next field has deposits “Locked Savings”. This is for choosing investments in the tokens for a certain period, for example, from 7 to 90 days. At this time, the money will freeze and you will not be able to use it.
The percentage here is much higher, up to 7.17% in the case of BTC, and 6.17% in the case of USDT, when freezing money for 90 days. Next is the field “Activities”, this is a special promotion from BINANCE. It does not happen often, and users are prompted to invest in a particular token at a high interest-rate. The last promotion activities were with an ERD coin, for 7 days and a rate of 10 percent.
And the last field is “Staking”. Here have projects in which BINANCE encourages us to buy the crypto, and receiving a reward for holding in the account. To find more details, go to the “Finance” category, select the “Staking” page. Now you will see more information. Here is a list of all cryptocurrencies that you can buy and hold for profit.
To see the full list, scroll down and click on “View more”. Here are the names of digital money, the interest rate for holding, and the required minimum buying of tokens. What is the difference between Deposits from Staking in BINANCE? The fact that in the Deposits you freeze money and give it to the EXCHANGE ACCOUNT, and then get it back.
In the case of Staking, you just keep any cryptocurrency in YOUR ACCOUNT. Staking is the storage of money in cryptocurrency to support blockchain network operations. Members get paid simply for buying digital money and holding it in BINANCE. But in Deposits (Binance Savings), Binance needs money to lend.
Binance Mining Pool
The next interesting option is Binance Pool (for mining). Mining is a process of supporting the blockchain network and some cryptocurrencies in general, as well as creating new coins. But it’s difficult for an ordinary person to mine because require to buy expensive computer equipment and pay a lot of money for electricity. And this does not always pay for itself.
The so-called mining-pools come to the rescue. This is a special platform on which a group of people miners unites to use together computer power for mining coins. The block reward is thus also shared among all participants, depending on how much computing power they have provided for mining.
There is a huge amount of mining-pools, but I personally recommend Binance Pool. Its advantages: 1) BINANCE is both a mining-pool and a crypto exchange where you can trade and earn coins, including one that cannot be mined. 2) The availability of investment tools with minimal risk – Binance Deposit and Binance Staking.
Video review about Deposits, Staking and Pool BINANCE is completed. If you were looking for an opportunity to invest in cryptocurrency in order to get profits with minimal risk, this is what you need. In Binance Finance there is no need to spend a lot of time and nerves, as when trading crypto. Start use to it! That’s all and keep in touch for the next videos.