Binance Earn - Help me understand!

[Madmim]

Hello,

I am new to Binance & I have some USDT there. I am not going in to trading activities yet.

Saw Binance Earn tab. Read the article about it. But I am not sure if there is a chance to lose my USDT if I put my money on any of these https://prnt.sc/131nbp1

Want to know if there is any catch. Any of these schemes are 100% risk free?

Thanks in advance.

[Little Mouse]

You don’t have any risk investing in such schemes as you will only stake the coins and get some % in returns. If you are staking USDT, you have nothing to lose. However, it’s never a good idea to keep/store your funds on exchanges as you will no longer be the controller of the fund.
Have you heard the trouble with cashing out fiat in Myanmar Banking? Such things are expected in centralize services.

[OmegaStarScream]

You shouldn't be using a centralized exchange to store your money, especially not when you're staking because you're usually locking your funds for a certain period of time... which means that if you ever need that money, there is no way to get it until the waiting period is over and even if that was not a problem, there is always that possibility of the exchange getting hacked.

Now, if you're asking about the APY, etc. then these are legit. In fact, you're probably going to be earning less compared to what you would earn if you did the staking using a decentralized platform.

[Oshosondy]

You shouldn't be using a centralized exchange to store your money, especially not when you're staking because you're usually locking your funds for a certain period of time... which means that if you ever need that money, there is no way to get it until the waiting period is over and even if that was not a problem, there is always that possibility of the exchange getting hacked.

You can release your coin from binance earn at anytime but if it is not up to the period to get the profit, that means no profit will be given. There are different types of ways to stake, daily, weekly and bi-weekly, I have forgotten if monthly is among, but you can remove your coin after you stake it at any time on binance.

I too will not encourage anyone to use centralized exchange to stake, the exchange can be hacked, anything can happen because we do not completely have power over our own coins, that is why I will support that people should not leave coins on centralized exchanges.

[bitmover]

You shouldn't be using a centralized exchange to store your money, especially not when you're staking because you're usually locking your funds for a certain period of time... which means that if you ever need that money, there is no way to get it until the waiting period is over and even if that was not a problem, there is always that possibility of the exchange getting hacked.

Yeah.. people think that apy is free money ,  but it is not. You lose the control and custody of your coins, and you are also under reasonable risk, as exchanges might have problems. Even defi protocol have risks, as there might be bugs in the smartcontracts,  or the owner of the defi could have add a back door or something Like that.

Now, if you're asking about the APY, etc. then these are legit. In fact, you're probably going to be earning less compared to what you would earn if you did the staking using a decentralized platform.

You will also earn less than you would earn in smaller exchanges. Small exchanges have higher risk, so they pay more.

[bhadz]

It looks like they're risk free because it is Binance. But if you will analyze what people above me said, you're putting your money at risk because it's an exchange.
You don't hold your keys and you'll never know what will happen in the future without it holding the keys. If you're freely going with any of those features and they have a free withdrawal rule, you earn almost nothing with them.

[Chato1977]

Hello,

I am new to Binance & I have some USDT there. I am not going in to trading activities yet.

Saw Binance Earn tab. Read the article about it. But I am not sure if there is a chance to lose my USDT if I put my money on any of these https://prnt.sc/131nbp1

Want to know if there is any catch. Any of these schemes are 100% risk free?

Thanks in advance.

Staking in Big exchange will neve be that High risk because your coin will remain intact and only the stakes will change color.
If you can handle to wait then best investing in binance.

[Mr.Scott]

Binance is a reputed exchange you can dare to risk with your small money, I would not recommend big amount. APY is the thing that you make in the event that you would stake your coin on certain time window. APY relies upon coin, staking method and the product you use. Regardless, nowadays staking using a decentralized platform become famous. That is up for you to choose how long you stand to lock it.

[semobo]

Hello,

I am new to Binance & I have some USDT there. I am not going in to trading activities yet.

Saw Binance Earn tab. Read the article about it. But I am not sure if there is a chance to lose my USDT if I put my money on any of these https://prnt.sc/131nbp1

Want to know if there is any catch. Any of these schemes are 100% risk free?

Thanks in advance.

Of course it is risk free because it is a stable coin so you no need to worry about the market movements, as long as you don't need that money you can invest on such schemes but you are not going to get huge reaps from them, all you can earn is something at interest level or above. But with your trading skills you can double the capital in no time and also its highly risky.

[malcovi2]

Its risk free but you'll be earning peanuts unless you have assets worth hundred thousands of dollar to invest. If you have like below $10k worth of assets better to find other investment venture because binance earn program has low ROI.

[elda34b]

There is always a risk of losing your money. Even Binance was hacked, no guarantee the same thing won't happen with their earn program.

If I were you, I'd rather use a P2P platform like yield.credit for lending. It allows you to earn more, and there's no centralized entity. It is riskier of course, but the gain is also bigger.

[Bitstar_coin]

Hello,

I am new to Binance & I have some USDT there. I am not going in to trading activities yet.

Saw Binance Earn tab. Read the article about it. But I am not sure if there is a chance to lose my USDT if I put my money on any of these https://prnt.sc/131nbp1

Want to know if there is any catch. Any of these schemes are 100% risk free?

Thanks in advance.

As far as i read there is no way to lose money rather you gain some percentage for participating in any of the earn activities, like the bnb vault activity, all that is required is put your bnb in vault and lock it in and you earn daily profit from any crypto that is specified there, i have tried it and the good part is you can redeem your bnb at anytime, it is totally different from staking that requires the stake period to be over before your coins can be released.

[stomachgrowls]

Any of these schemes are 100% risk free?

Dont think about 100% risk free because once you handed up your funds into some platform or 3rd party just for the sake of getting some dividends or some sort then risk of losing it would really be always there.

We dont know on when these platforms would ran away and remember that not your keys not your coins common line that had been always been told to people on here.

but if you can risk out on putting your funds and trust up Binance with that then its your choice though since its your money.

[Anonylz]

You shouldn't be using a centralized exchange to store your money, especially not when you're staking because you're usually locking your funds for a certain period of time... which means that if you ever need that money, there is no way to get it until the waiting period is over and even if that was not a problem, there is always that possibility of the exchange getting hacked.

You can release your coin from binance earn at anytime but if it is not up to the period to get the profit, that means no profit will be given. There are different types of ways to stake, daily, weekly and bi-weekly, I have forgotten if monthly is among, but you can remove your coin after you stake it at any time on binance.

I too will not encourage anyone to use centralized exchange to stake, the exchange can be hacked, anything can happen because we do not completely have power over our own coins, that is why I will support that people should not leave coins on centralized exchanges.

I take it both of the posters above don't engage in any trading in centralize exchange, neither do they take part in any ieo or launchpad sale in any centralize exchange! as much as people will want to stay away from cex because you lose control of your funds the moment you deposit your funds, you will be missing out on all the earning opportunities the exchange has to offer,
besides, am sure anyone who is engage in centralize exchange already know the risk involve, you can't compare the volume on or trading fee of centralize exchange to dex exchange, in a nut shell, everything in life involves risk, keeping money in bank is risky too because you loss control of your funds as well.

[Madmim]

Thanks for all the replies. Seems like I am out of the loop in crypto world. When I started the thread, I did not have CEX or DEX in mind.

Seems like I need to get education. So asking 2 things:

1. Is there any place where I can get up to date & learn about staking, CEX or DEX properly. (site or youtube channel like babypips)

2. Is there any way I can earn (like Binance earn) & keep my coins to myself?

Thank you.

[Moeda]

Hello,

I am new to Binance & I have some USDT there. I am not going in to trading activities yet.

Saw Binance Earn tab. Read the article about it. But I am not sure if there is a chance to lose my USDT if I put my money on any of these https://prnt.sc/131nbp1

Want to know if there is any catch. Any of these schemes are 100% risk free?

Thanks in advance.

I think that nothing is free of risk if you invest in crypto, either by saving, staking and other methods. Unless you choose stable coins as your investment, or on the saving method. But saving, of course, earns less than you do a trade.

[Anonymous100]

Hello,

I am new to Binance & I have some USDT there. I am not going in to trading activities yet.

Saw Binance Earn tab. Read the article about it. But I am not sure if there is a chance to lose my USDT if I put my money on any of these https://prnt.sc/131nbp1

Want to know if there is any catch. Any of these schemes are 100% risk free?

Thanks in advance.

If you choose Stablecoins, of course, you will reduce the risk of loss. However, if you choose crypto, of course the price will continue to change even if you choose the saving investment method. Of course you cannot avoid the losses that occur.

[Jawhead999]

1. Is there any place where I can get up to date & learn about staking, CEX or DEX properly. (site or youtube channel like babypips)

You can visit this 2 channel, it's good for learn basic thing about cryptocurrency, exchanges and other features.

1. https://www.youtube.com/c/BlockGeeks/featured
2. https://www.youtube.com/c/Bitcoinwithpaypal/featured

2. Is there any way I can earn (like Binance earn) & keep my coins to myself?

None.

Invest on centralized exchanges/interest account - Risk about hack and scam
Invest on casino bankroll - Same as centralized exchanges
Lend a crypto - Risk about scam and can't paid you back
Staking - Depends on the contract and scam
Holding on your non-custodial wallet - 100% safe

If you choose Stablecoins, of course, you will reduce the risk of loss. However, if you choose crypto, of course the price will continue to change even if you choose the saving investment method. Of course you cannot avoid the losses that occur.

Don't confuse of stablecoin and crypto, stablecoin is a crypto too but different types (privacy coin, stable coin, defi token etc).

[martina14]

Hello,

I am new to Binance & I have some USDT there. I am not going in to trading activities yet.

Saw Binance Earn tab. Read the article about it. But I am not sure if there is a chance to lose my USDT if I put my money on any of these https://prnt.sc/131nbp1

Want to know if there is any catch. Any of these schemes are 100% risk free?

Thanks in advance.

Once you create an account over Binance exchange that means the only way for you o earn over this platform is to buy any of the coins listed there then trade either day trading or long term holding something like that. Then the second thing is share your referral link to your friends to sign-up over this Binance platform.

[Ararbermas]

Hello,

I am new to Binance & I have some USDT there. I am not going in to trading activities yet.

Saw Binance Earn tab. Read the article about it. But I am not sure if there is a chance to lose my USDT if I put my money on any of these https://prnt.sc/131nbp1

Want to know if there is any catch. Any of these schemes are 100% risk free?

Thanks in advance.

watch some video mate in the internet if you want to learn the proper way how to use it.. Indeed there's a lot of influencer published a video on youtube about that new features of binance which "binance earn" after the update.. And its about different ways on how to staking a coin to many option so you better have i try to check it mate, indeed through video you can easily learn and obtain knowledge wherein unlike reading articles..