Welcome to Pando Infinity
What is DeFi Staking? Guide to Staking DeFi on Binance
What is DeFi Staking? How is the profit from this staking different from other staking on Binance? The following article explains the easiest way to understand this form of money.
DeFi is a form of decentralized finance. DeFi Staking is the act of locking crypto assets to become validators in a decentralized finance or blockchain and earning rewards. However, DeFi (DApp) projects are still unfamiliar to the majority of users.
In order to make it easier for users to invest in decentralized finance projects, Binance launches the DeFi Staking feature. This feature allows users to participate in investing in DeFi products by staking crypto assets available in Spot Binance wallet and earn profits easily with just one click.
Users participate in Staking products on Binance with just one click. Binance participates in DeFi products on behalf of users, receiving and distributing income to users.
Step 1: Login to your Binance account. Register at the link below:
Step 2: Access the Staking feature: Click the Earn tab, select DeFi Staking.
Step 3: Perform Staking: In the this page, click Stake Now, enter the amount of assets you want to stake, read and agree to the Accept terms of service box, then select Confirm.
After performing the above step, users can find detailed staking information in [Wallet] – [Earn] – [DeFi Staking]. After staking successfully, the system will calculate your profit and distribute it to the daily Spot wallet.
Is Binance responsible if the project’s On-chain contract is hacked during DeFi Staking?
Binance will not be responsible for any loss resulting from the security of the On-chain contract. Binance is just an intermediary platform that introduces projects and provides users with related services as well as management and distribution of income.
Time to lock crypto assets when participating in DeFi Staking?
Currently, Binance offers a variety of options with locking periods ranging from 1 day, 7 days to 30 days or longer. Normally, assets will be unlocked and returned to the account within T +1 day. However, the repayment period will depend on the crypto asset class and this time will be clearly announced in the investment package.
Does early withdrawal have any profit?
On early withdrawal, the investor will not receive any profit. At the same time, the early withdrawal process requires manual work with complex operations and incurs additional costs for transferring funds on the blockchain. Therefore, users please choose the appropriate lock time when registering to participate in DeFi Staking on Binance.
Above is the information you need to know about Staking on Binance. It is a simple and effective way to earn money based on DeFi projects. Besides, if you want to launch your own staking platform that combines high-quality features with industry-specific security using top-rated blockchain technology, Pando Infinity is the perfect choice. Feel free to contact us to find how we can turn your brilliant idea into life!