I guess that most of you are already registered on the Binance exchange as it is one of the most well-known and well-established cryptocurrency exchanges. Those of you who are not trading on Binance yet should consider joining because the exchange is not only trustworthy but also offering some brilliant features.
Here are the TOP 5 features on Binance that you need to know.
Before I dive into the TOP 5 Binance features with you, I would like to mention that it is beneficial to hold some $BNB on the Binance exchange.
First of all, when you choose $BNB to pay for fees, you get a juicy 25% discount on all trades. Go to the settings in your Binance Account to activate this little feature.
Another benefit of holding some $BNB on your Binance account is that you can trade it against most other cryptocurrencies. Simply use your BNB when you want to invest in the next potential low market cap gem.
The Binance Launchpad and the BNB Vault are two possibilities to put your $BNB to work while you hodl it on the exchange. The Binance Launchpad and the BNB Vault are the first TOP features on Binance.
1. Binance Launchpool
The first cool feature is the Binance Launchpool which is issuing and launching new tokens. You can earn them by staking certain cryptocurrencies in the Binance Launchpool.
You can always earn something by staking $BNB. At the moment, you can earn $LIT, a decentralized cross-chain identity aggregator, by staking $BNB, $DOT, or $BUSD. Right now, you can also stake $BNB, $BTC, or $BUSD to earn rewards in $BTCST, a liquidity token for Bitcoin Mining Power.
$LIT trading starts in a few days, so the current APY is unknown until the beginning of trading on Binance has started. The current APY for $BTCST is relatively low as I have seen much higher APYs in the past.
2. BNB Vault
The $BNB Vault is a $BNB yield aggregator. Staking $BNB in the Vault means participating in Launchpool, Savings, Defi staking, and other projects and at the same time gaining rewards. When you deposit $BNB into the Vault, your rewards will be distributed the next day.
You will receive your Savings interest from the Vault on a daily basis, and the income will be calculated on the second day. Over time, you can farm a nice variety of different coins including $BNB Savings rewards on top.
3. Staking ETH 2.0
Another cool feature is that Binance allows you a seamless one-click ETH 2.0 staking with minimal requirements and maximum returns.
Normally, you need a big amount of Ethereum if you want to become a "regular" staker and the process is complicated and complex. On Binance, you can stake small amounts of Ethereum and the process is quick and simple.
Please note, that your stake cannot be redeemed during the first phase which may take more than two years. During that time, Binance tokenizes $BETH as the only proof of your staked Ethereum in a 1:1 ratio.
4. Converting Token Dust To BNB
You have some token dust and you don`t know what to do with it? Well, Binance can help you out with the token dust issue.
You can convert smaller balances with a valuation below 0.001 BTC to BNB once every six hours. Simply go to your fiat and spot wallet, click on the button "Convert to BNB" and say Goodbye to your token dust.
5. Airdrops, Competitions, And Giveaways
There are also airdrops, giveaways, and competitions taking place on the Binance exchange frequently. For example, some days ago, Binance has airdropped 100 $TWT. Simply check the start page to get an overview of all ongoing activities like free Dogecoin for new users.
You also need a verified Binance account if you want to participate in the Coinmarketcap Earn program. It is similar to the Coinbase Earn program where users watch short videos and take quizzes. You need to have a verified account at Binance exchange because this is how they prevent fraud and this is also where your rewards will be distributed after the campaign has ended.
My Final Words
These are the TOP 5 features on Binance that you should know. Did I miss a cool feature? Let me know in the comments.
I hope, I could provide you with some interesting and useful information about the TOP 5 Binance features.
If you are not registered on Binance yet, you can use my referral link (E3PGAJCE) for signing up. When you use it, you will save trading fees each time you perform a trade. Don`t forget about this possibility when you introduce a friend to cryptocurrency. It will save both of you some money.
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