What is Binance staking High Yield Offer and How to Join?
Binance did launch a new earning product in April 2021, Binance high yield staking offer.
What is this?
This is a product under Binance earning, where you can get extreme high APY if you deposit certain cryptocurrencies. There is a maximum cap for each cryptocurrency that is low if you are a high net worth individual. However, if you are an average holder of cryptocurrency this high yield program should be perfect for you.
Binance high yield staking is a great way to make your crypto work for you and get a crypto passive income.
What currencies can i Stake with Binance High Yield? Offer
Binance has released it´s high yield staking program in several batches as you can see in the table below.
Also, there is a maximum amount for each Binance high yield staking program since it wouldn´t be sustainable to give such high returns to very large amount of deposits.
This is probably a product to attract more users and more value locked into Binance.
Read our full Binance review if you are looking for more information about Binance.
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| Digital Assets | Duration | Max. Locked Staking Limit Per User | Standard Annualized Interest Rate | Min. Locked Staking Limit |
ADA | 15 days | 200 ADA | 17.79% | 0.1 ADA |
DOT | 15 days | 15 DOT | 27.79% | 0.01 DOT |
TRX | 15 days | 1,000 TRX | 12.49% | 0.1 TRX |
EOS | 15 days | 50 EOS | 12.49% | 0.01 EOS |
CAKE | 15 days | 20 CAKE | 37.49% | 0.01 CAKE |
| Digital Assets | Duration | Max. Locked Staking Limit Per User | Standard Annualized Interest Rate | Min. Locked Staking Limit |
KSM | 15 days | 2 KSM | 32.47% | 0.01 KSM |
ONE | 15 days | 4,000 ONE | 24.79% | 1 ONE |
1INCH | 15 days | 150 1INCH | 31.79% | 0.1 1inch |
ALGO | 15 days | 300 ALGO | 21.49% | 0.1 ALGO |
IOST | 15 days | 12,000 IOST | 24.49% | 1 IOST |
| Digital Assets | Duration | Max. Locked Staking Limit Per User | Standard Annualized Interest Rate | Min. Locked Staking Limit |
MATIC | 15 days | 210 MATIC | 43.29% | 1 MATIC |
SOL | 15 days | 15 SOL | 23.22% | 0.01 SOL |
ATOM | 15 days | 35 ATOM | 34.47% | 0.1 ATOM |
BAKE | 15 days | 100 BAKE | 26.79% | 0.1 BAKE |
XTZ | 15 days | 120 XTZ | 27.32% | 1 XTZ |
ICX | 15 days | 400 ICX | 24.79% | 1 ICX |
| Digital Assets | Duration | Max. Locked Staking Limit Per User | Standard Annualized Interest Rate | Min. Locked Staking Limit |
AVAX | 15 days | 25 AVAX | 16.79% | 0.1 AVAX |
TKO | 15 days | 200 TKO | 34.79% | 1 TKO |
KAVA | 15 days | 115 KAVA | 32.34% | 0.1 KAVA |
DASH | 15 days | 1 DASH | 16.62% | 0.01 DASH |
NEAR | 15 days | 125 NEAR | 24.79% | 0.1 NEAR |
DODO | 15 days | 255 DODO | 47.49% | 0.1 DODO |
How to Join Binance High Yield Staking?
In this step-by-step guide we will walk you through on how to join Binance high yield staking program.
- Sign up with Binance
- Login to Binance
- Navigate to Finance in the top menu and click on Binance Earn
Once you have entered the Binance Earn section you can search for which coin you would like to stake.
In our example, we searched for Cardano ADA, as you can see in the screenshot below.
For ADA, there is a high yield staking option that returns 17.79% APY, as you also can see in the screenshot below. For this alternative, you have to lock your ADA for 15 days.
Also, there are other duration periods as you can see in the screenshot.
Once you decide what duration period to stake, you click on the yellow stake button.
Here, you need to confirm the amount you want to stake and confirm that you have read the terms and conditions.
What are the risks with Binance High Yield Staking?
As with any investment, there are risks with staking.
Locking up funds in a smart contract is prone to bugs, so it’s always important to DYOR.
Binance is the largest crypto exchange but it has suffered from an exchange hack as many other crypto exchanges.
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Terms and Conditions - High Yield
- Subscription Period: Usually, the subscription period is 15 days for Binance high yield earning program
- Locked Staking Format: First-come, first-served basis.
- Interest Calculation Period: From 0:00 AM (UTC) on the day after Locked Staking is confirmed to the end of the corresponding product period.
- Interest Payout Time: On a daily basis.
- Monitor you investments: Go to Binance earn, Locked Staking assets by going to Wallets > Savings > Locked Staking.
- Dynamic APY: The APY is adjusted daily based on the on-chain staking rewards and the specific APY is subject to the page display on the day.
- About early redemption: Users can choose to redeem in advance. After choosing early redemption, the principal will be returned to the spot account, and the distributed interest will be deducted from the refunded principal. Due to different global time zones, it takes 48-72 hours to receive the tokens.
- Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will not be responsible for your trading losses.
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Text source: Crypto Blog with Cloud Mining, Exchanges, Passive
