Hey everyone, this is Crypto Bobby and in this video, I want to talk about Binance’s Locked Staking and what they’re not telling you.
Recently Binance announced a new product called Locked Staking, which is a way to passively earn rewards on some of the most popular crypto assets.
In this video, I want to go over some of the details and pros and cons of this new product, so you can make an informed decision about whether it’s right for you.
First, let’s talk about how it works.
With Binance’s Locked Staking, you lock up your crypto assets for a certain period of time and receive rewards in the form of a percentage of those assets.
The longer you lock up your assets, the higher the rewards.
The rewards are paid out in the native token of the asset you’re staking, so if you’re staking Ethereum, you get Ethereum rewards.
Now, here’s what Binance isn’t telling you.
First, you don’t actually own the assets you’re staking.
Binance is actually taking ownership of the assets and you’re just giving them the right to use them.
Second, the rewards you receive are not guaranteed and could be lower than expected.
Finally, the assets are not liquid during the staking period and you can’t access them until the period is over.
So, while Binance Locked Staking can be a great way to passively earn rewards, make sure you understand the terms and conditions before you commit any of your assets.
Thanks for watching and I hope this video was helpful.
If you have any questions, leave them in the comments below.
