Sirwin
Sirwin

The latest staking product on Binance

By LeftFooted | bitcoinea | 26 Dec 2021


There's a million platforms you can use and people tend to have polarised opinions on this and to be honest, I don't really see why. Broadly speaking, you go to places like Coinbase or Binance, which are very obviously more centralised, when you want a good compromise with a platform that allows you to manage new assets with a more, let's say, old-fashioned tool. You go to full-on DeFi platforms when you A, are a lot more prepared and B, you feel comfortable taking 100% of the risk of managing your assets. These two things can coexist.


I think Binance is a great platform to blend decentralised products with a safety-first approach, you don't need to be a software engineer to buy some crypto and stake it on Binance, and I think the risk-benefit ratio is actually optimal.


I like Binance, and I'm not gonna pretend I don't, and the latest staking product I've used involves FC Porto tokens. I'm into sports, specifically football (or soccer, if you're reading this in the U.S.) and F1, and I think there's huge potential in that. Sentiment surrounding football clubs tend to be humoral and whimsical. You win, the price goes up, you lose, the price goes down. Rumours about a great footballer joining the roster, price goes up, rumour about a great footballer leaving the club, price goes down. FC Porto are one of the three top clubs in the Portuguese 'Primeira Liga', which means it's a great club but it is also (for the most part) exempt from scandals that routinely shake other major leagues like the Italian Serie A. That's a good thing, the way I see it, because it saves you from the Black Swan event that might lose you XY %.


It is also a winning team. Year on year, FC Porto are either winning, or competing to win, which is good. It means that an FC Porto token will potentially go up and down over time, but always within a... comfortable range.


Binance has just launched a 10-day staking programme for the FC Porto token, with a 40.something (I think it's 40.5%, if memory serves) APY. I've bought $25 worth of FC Porto token to give it a shot, worth around 8 tokens. I'll keep you posted.


In the meantime, the only question now is... where's my Lambo?!

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LeftFooted
LeftFooted

I’m a left-footed duck that loves writing. I write about cars, watches, craft beer and, you’ve guessed it, crypto Also active on read.cash


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bitcoinea

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