10. How to Use Defi-Staking on Binance

 

  The term DeFi stands for “Decentralized Finance”. DeFi provides users with decentralized financial services through smart contracts on a blockchain.

 

 

 

1. Go to [Earn] ➡︎ [Staking]

 

 

 

2. Choose a Coin to Stake ➡︎ Click [Stake Now]

 

There is a total of 15 coins available for Defi-Staking, including BTC, BNB, ect.

 

3. Choose [Type] ➡︎ [Duration] ➡︎ [Amount] ➡︎ Click [Confirm]

 

*During the staking period, your assets will be locked on-chain, so you won't be able to withdraw or perform any transactions with the staked assets.

Type

 

"Flexible" allows you to redeem your staked assets at any time.

 

"Locked" refers to staking your assets for a specific time frame.

 

Compared to Flexible Staking, Locked Staking provides higher interests but requires you to lock your assets for the displayed duration. You can still redeem your assets at any time you wish before the end of the locked duration, but you won't receive any interest generated over your staking period. Your staked assets will be unlocked and returned to your Spot Wallet the following day.

 

If you want to redeem your assets before the locked period ends, click [Redeem earlier]. Please note that unlocking your staked assets requires a specific time based on the specifications of the chain you're staking on. If you redeem your staked assets in advance, you will lose your interest and the interests you have generated will be deducted when your assets are returned.