binance staking of polkadot

How to Staking Polkadot on Binance

By Makingdigital | makingdigitals | 11 Mar 2021

One of the most interesting tools that we find on the Binance platform is its Staking service. The most popular centralized exchange internationally, not for this reason, the best in the world, offers the user many opportunities. We only have to pay attention to the application from time to time and delve into its features to take advantage of its services.

If there is something within the Crypto world that most attracts an investor, it is the possibility of creating wealth with their capital with very little risk and without effort. Both Staking and Yield Farming are excellent ways to achieve wealth, the former is the one with the least risk.

In Binance we find a section in the top menu bar called Binance Earn. From here, if we click, 3 options will appear. The first is Staking through flexible terms that includes the Binance vault to take advantage of our BNB, flexible staking with small APY and also the Launchpool, which helps us to earn incipient tokens that are being promoted on Binance.

The option that we will use to do Staking of Polkadot is the one of fixed terms. Within it, we will find many cryptocurrencies and tokens with which to staking. For the case that I comment, I will use Polkadot. It is important to be sure that the Polkadot that we are going to invest will not be needed during the staking period. It is a Locked Staking, therefore, it is necessary to respect the time of the same in order not to suffer a penalty. In the event that due to force majeure I have to withdraw the Polkadot early, I will lose all interest generated up to that point.

The estimated interest will depend on the APY that can vary during the entire Staking period and also on the amount that we are going to deposit. Then I will leave a video where you can see the process live, explained in Spanish.

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