A friend of mine reached out to me yesterday about Binance's staking options. I knew that Binance offered such an option, however, I never bothered to investigate much further. My friend wanted to opt for the BUSD vault, with a current APY of 13.3%, which isn't too bad, although, what caught my attention is the option to stake Bitcoin. The APY it's offering is at 8%, supposing you're not using your Bitcoin, and it's just sitting in your wallet, would it be something that you'd opt for?
FreeBitco.in also offers a savings option, providing you with a 4% interest on your BTC deposits. I currently have a small amount of BTC and was wondering if it would be any of worth staking my BTC through Binance (8%), since I'm not actively using it.
I'd appreciate any advice from more experienced users, thank you in advance.
Supposedly, Binance offers this staking option through the platform of Venus, we're not talking about the Savings section of Binance.