Binance Liquid Swap | Bitcointalksearch.org

shield132

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Quote from: Beerwizzard on April 14, 2021, 11:02:16 AM

Just one more simple question.

Anyone tried to hold a large amounts of coins on Binance for a long time ?

Thinking about moving my stash there so it could earn something while holding. Is there any requirements for any extra KYC or any other confirmations for large amounts?
My main concern is about getting my funds might be locked for some reason.

I have tried and have never had any problem on Binance. For me, withdrawals are immediate, balance has never frozen. If you plan trading too, then always set stop loss because I had an accident when I couldn't cancel order / trade and lose serious amount of money. Especially consider this on futures trading or you'll regret later.

Otherwise, also keep in mind that sometimes there are cases when you block balances for no reason and I've seen such cases on reddit. The response from them takes a lot of time.

The Cryptovator

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Quote from: Beerwizzard on April 14, 2021, 11:02:16 AM

Just one more simple question.
Anyone tried to hold a large amounts of coins on Binance for a long time ?
Thinking about moving my stash there so it could earn something while holding. Is there any requirements for any extra KYC or any other confirmations for large amounts?
My main concern is about getting my funds might be locked for some reason.

Once you are using a centralized exchange, then just prepare yourself to provide any extra documents. Because there are money Laundering issues that would lead to ask you for extra documents besides KYC. They might ask about the source of funds if the amount is quite bigger. I know many traders making deposits a huge amount in Bitcoin. But just make sure, it's possible to freeze your funds as well in a centralized exchange. Very rarely Binance does like this but I just describe potential risk. I advise you to hold your funds into a hardware wallet and move funds on a centralized exchange with a limited amount when necessary. Don't move all your fund into a centralized exchange.

magneto

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Quote from: Beerwizzard on April 13, 2021, 04:04:22 PM

Hey guys!

I believe someone has already invested some coins to Binance Liquid Swap. Can you please share your experience? Planning to invest some of my BNB there.

I have already googled for some articles about it and all of them are like "just throw your coins there and, txfee if you invest only one coin and receive your rewards". Is it really so easy? The only thing that concerns me is that Binance Liquid Swap right now offers 30.4%+11.85% revenue which is much over 15-20% offered for staking. Is there any risk with Binance Liquid Swap? And that is the min/max investing period for it?

Any information is appreciated.

You need to balance between risk and reward here.

The risks are pretty obvious. Binance is a centralised exchange that is going to get targeted by regulators as a matter of time (and it has already started with several people reporting their withdrawals being locked). If you have your coins locked there then recourse is going to be very difficult.

But the returns are indeed lucrative. As others said, though, it's not riskless like staking (which is something inbuilt into the blockchain).

TryNinja

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Quote from: Beerwizzard on April 14, 2021, 11:02:16 AM

Thinking about moving my stash there so it could earn something while holding. Is there any requirements for any extra KYC or any other confirmations for large amounts?
My main concern is about getting my funds might be locked for some reason.

AFAIK, you can withdraw up to 2 BTC daily without KYC. However... it's a centralized exchange. They can: a) change their rules at anytime; b) lock your coins for "security reasons" or for whatever reason they want; c) get hacked; d) scam you and everybody else (it's still a possibility).

There have been reports of people getting their funds stuck on the exchange for months because their support sucks, so you're definitely taking some extra risk.

But if you're only sending your BNB, then I suppose it isn't that bad because your coin's value is directly correlated to their success. If they scam or go bankrupt, BNB will be sent to the core of the earth, so... whatever.

Insanerman

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Quote from: Beerwizzard on April 14, 2021, 08:32:53 AM

Well, at least it also takes half losses if BNB goes down.

Anyway, thanks a lot

i would suggest to you that you rather spend your BUSD onto buying more BNB then just stake it, accumulate more from time to time, then forget it (means just wait for months or years than constantly checking its chart). Why? if we are talking about BNB, then it has a high chance of having 4digit price. Add to that factor is its Quarterly burning and its blockchain system (BEP20 network in Binance Smart Chain) being adopted on tons of new and even old projects as it has waaaaay cheaper fees compared to ETH.

Beerwizzard

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Just one more simple question.

Anyone tried to hold a large amounts of coins on Binance for a long time ?

Thinking about moving my stash there so it could earn something while holding. Is there any requirements for any extra KYC or any other confirmations for large amounts?
My main concern is about getting my funds might be locked for some reason.

Beerwizzard

full member

Activity: 924

Merit: 148

Quote from: TryNinja on April 14, 2021, 08:09:58 AM

Quote from: Beerwizzard on April 14, 2021, 06:25:38 AM

So as I understand, the biggest risk is that I may end up with a pairing coin while my initial coin is growing, right?

Yes, so you "lose" some of your potential profits.

Well, at least it also takes half losses if BNB goes down.

Anyway, thanks a lot

TryNinja

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Quote from: Beerwizzard on April 14, 2021, 06:25:38 AM

There is an option to send only one coin but in that case I would have to pay a small txfee (still duno if I have to pay it again to get my funds back). Am I risking to get back a pairing coin instead of BNB? Like BUSD in your example.

It's the same thing I said above. If you only add BNB, half of it will be sold for BUSD so you can add 50% BNB and 50% BUSD. You can't run from that since it's an AMM.

Quote from: Beerwizzard on April 14, 2021, 06:25:38 AM

So as I understand, the biggest risk is that I may end up with a pairing coin while my initial coin is growing, right?

Yes, so you "lose" some of your potential profits.

Quote from: Beerwizzard on April 14, 2021, 06:25:38 AM

Is there any freeze period for withdrawals and how often they distribute rewards?

No freeze period, AFAIK.
The rewards are distributed constantly. If you have a big deposit, you should see it growing almost in real time (as people trade).

Beerwizzard

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Quote from: TryNinja on April 13, 2021, 04:58:44 PM

Have you heard about Uniswap ou Sushiswap? Binance Liquid Swap is basically the same thing but centralized (and thus, cheaper for the traders).

The difference between their liquid swap and staking is that on the first you need to add two tokens to become a market maker. So, for example, you add $200 of BNB and $200 of BUSD (always 50% of each coin) and people trade between them. If any of the coins fall/rise, you can lose (or profit less) because of impernanent loss (check youtube for a explanation on that).

Basically:

Staking = add BNB and you'll always leave with more BNB.
Liquid swap = add 1 BNB and 560 BUSD (example) and you may leave with 0.5 BNB and 800 BUSD or 1.5 BNB and 300 BUSD (impermanent loss).

There is an option to send only one coin but in that case I would have to pay a small txfee (still duno if I have to pay it again to get my funds back). Am I risking to get back a pairing coin instead of BNB? Like BUSD in your example.

So as I understand, the biggest risk is that I may end up with a pairing coin while my initial coin is growing, right?

Is there any freeze period for withdrawals and how often they distribute rewards?

It feels like Binance should have a detailed guide about it but I couldn't find it.

shield132

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Activity: 2352

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From my understanding, if the price between two coins moves from the normal stage, then you get less crypto when you withdraw because it's an impermanent loss, but if you leave the coins in liquidity and their value returns to normal, then everything is fixed.

Stablecoin pairs are good in this case, just consider to don't move your $$ frequently because of fees, it should be a long-term, not short term investment for profits.

Btw I amn't the most enlightened one in this topic, have a look at other users opinions.

TryNinja

legendary

Activity: 2758

Merit: 6830

Have you heard about Uniswap ou Sushiswap? Binance Liquid Swap is basically the same thing but centralized (and thus, cheaper for the traders).

The difference between their liquid swap and staking is that on the first you need to add two tokens to become a market maker. So, for example, you add $200 of BNB and $200 of BUSD (always 50% of each coin) and people trade between them. If any of the coins fall/rise, you can lose (or profit less) because of impernanent loss (check youtube for a explanation on that).

Basically:

Staking = add BNB and you'll always leave with more BNB.
Liquid swap = add 1 BNB and 560 BUSD (example) and you may leave with 0.5 BNB and 800 BUSD or 1.5 BNB and 300 BUSD (impermanent loss).

Beerwizzard

full member

Activity: 924

Merit: 148

Hey guys!

I believe someone has already invested some coins to Binance Liquid Swap. Can you please share your experience? Planning to invest some of my BNB there.

I have already googled for some articles about it and all of them are like "just throw your coins there and, txfee if you invest only one coin and receive your rewards". Is it really so easy? The only thing that concerns me is that Binance Liquid Swap right now offers 30.4%+11.85% revenue which is much over 15-20% offered for staking. Is there any risk with Binance Liquid Swap? And that is the min/max investing period for it?

Any information is appreciated.

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