09. How to Use Locked Staking on Binance

 

What is Locked Staking?

 

Staking is to deposit your coins and earn rewards. Although it can work as a way to increase your crypto holdings, it has its dangers and risks such as slashing, malicious attacks, and stringent technical requirements.

 

*Although Binance strives to reap the benefits of financial products, it is crucial to fully understand the risks.

 

First, traders need to understand that there are 2 types of staking.

 

Locked Staking

 

Locked staking refers to the process of locking your digital assets on a Proof of Stake blockchain for a certain period of time. This not only contributes to the network but also provides you staking rewards. The more coins you stake, the higher the rewards.

 

*Interest will be calculated and distributed between 0:00 and 8:00 (UTC+0) on the second day after the subscription day.

 

 

 

1. Go to [Earn] ➡︎ [Binance Earn]

 

 

 

2. Go to [Staking] ➡︎ [Locked Staking]

 

 

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

 

 

 

 

4. Select [Duration] ➡︎ Enter [Amount] ➡︎ [Confirm]

 

 

• Duration: You can click on the different duration to see their respective estimated annual percentage rate (Est. APR) to pick the best offer. Please note that the Est. APR is adjusted daily based on the on-chain staking rewards. 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 allocated assets.
• Available amount: It shows the available balance in your Spot Wallet that you can use to stake on Locked Staking. There is a minimum amount required for staking. If your balance is lower than that, you won't be able to stake.
• Auto-Staking: You may choose to enable the Auto-Staking function. The system will automatically restake the product after the subscription period has expired.

 

It is possible to redeem your assets during the locked staking period.

 

To view your Locked Staking history or redeem your assets at a sooner period,

 

Go to [Wallet] ➡︎ [Earn] ➡︎ [Staking] ➡︎ [Locked Staking] and Click the [Redeem earlier] button shown on the right.

 

*Please note that if you redeem the Locked Staking products in advance, the interest generated will be deducted from the principal when you unstake.