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.
Topic: Binance Earn - Help me understand! - page 2. (Read 204 times)
legendary
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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.
Have you heard the trouble with cashing out fiat in Myanmar Banking? Such things are expected in centralize services.
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 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.
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