Binance Coin (BNB)
BNB is the issued cryptocurrency by Binance Exchange where you can trade it to other cryptocurrencies or use it as a trading fee to have a discounts for every trades you make.
Binance Exchange
The largest cryptocurrency exchange, as of the moment, where you can buy, sell and hold hundreds of cryptocurrencies.
Whether you are a trader, holder or just simply a "buy-low, sell-high" guy in Binance, you can still make an income out of your idle funds. And one of it is by putting your BNB coin in the BNB Vault.
The BNB Vault is a yield aggregator of Binance Coin. When you deposit BNB in the the BNB Vault, it means you are participating in the projects of Binance Exchange and you will be rewarded by doing so.
Let's imagine that you already have a Binance account, and if still don't have it, click this link and it will redirect you to Google Playstore: https://play.google.com/store/apps/details?id=com.binance.dev. And register using your email.
1. Fund your Binance account and buy BNB.
There are many ways of funding your Binance account:
Depositing cryptocurrencies from other wallets to Binance.
Using P2P trading.
Buy using Visa or MasterCard.
If you are from Philippines, you can read @Ruffa's article about funding your Binance account using P2P trading and Coins.ph account.
Note: You need to be a verified user of Binance to use P2P trading.
You need to have at least $10 of USDT or $10 worth cryptocurrencies to buy or exchange to other cryptocurrencies.
If you have bought USDT using P2P, you need to transfer it to your Spot Account. But if you deposit cryptocurrencies in your Binance account, there's no need of transferring it as deposited cryptocurrencies will directly go to your Spot Account.
2. Go to trade ang buy BNB.
Let's say you now have 10 USDT funded in your Binance/Spot Account. You need to go to the Trades tab and find BND/USDT pair and buy it.
We use 10 USDT as an example because that is the minimum amount to trade or buy a certain cryptocurrency.
3. Go to BNB Vault.
Go to the Finance option of Binance and click the BNB Vault option.
4. Stake BNB
Click the Stake option and it will redirect you to another page.
You can also enable the Auto Transfer if you want stake your BNB automatically in the next day.
Click on the Max option to stake all of your BNB in the BNB Vault then check the box to show that you have agreed about the agreement.
Here are all the rewards I received from staking BNB in the BNB Vault.
You will earn BNB and other cryptocurrencies depending on the projects that are currently in the Binance launchpad.
Currently, the rewards that are being distributed in the aggregator is DODO and LIT token.
When you have staked your BNB in the Vault now, the rewards will be distributed after 24. The reward distribution will directly go to your Spot Account/Wallet.
Daily BNB Vault Income = New tokens rewarded from Launchpool + BNB Flexible Savings + Defi Staking & more.
For example, a user stakes 100 BNB in BNB Vault, the user will enjoy the following triple benefits:
Receive spot income of BNB Flexible Savings every day according to the 100 BNB quota;
Receive new tokens rewarded from Launchpool according to the 100 BNB quota;
Receive the income from DeFi staking and more such as BSC on-chain mining according to the proportion of holdings in the BNB Vault.
Source: https://www.binance.com/en/support/faq/8da1d801a90745fcb9ebdbf0143df29e
If you want to redeem your staked BNB and exchange it to other coins that you prefer, you can just easily Unstake it in the BNB Vault the sell it to USDT or buy the other coins that has a BNB pairing.
Cryptocurrency is volatile and anytime that you bought it, the price can go down, so trade at your own risk.
Try it. Hope this will help a little.
Matsalam sir sir sa mga ganitong advice matry nga rin.
Try mo boss lalo na pag naghohold ka lang ng BNB.
Yes, BNB is a good coin and soon it will reach 1000$ because of the implementation of the BSC network.
Yup, because it is highly recommended than using Ethereum for a transaction fees.
Haven't tried binance po but i guess prang mganda din po yan
Kung may extra money ka ma'am na pwede mo lang hayaan you can try it. Worth it naman si BNB din.
Cge po, try q po yan, bsta po kng my ndi po aq maintindihan tnungin q nlng po kau
Tanong lang sa GC ma'am. Willing to help naman kami.
Opo, salamat po :)
How much can we earn by that?
By staking it. Hope you read the article to know more about it.
Nilagay ko narn sa valut ibang BNB ko nkaraan 😁
Valut? 😂 Oo maganda naman din ihold BNB tapos makakaearn pa ng ibang coins.
Grave typo lng 🤣🤣
Haha, tawa ako sa valut 😂 ma try nga rin to. Di ko rin to ginagawa eh ang daming options tlaga kay binance noh yung iba yan lang inaabangan yung mga di mahilig mag trade.
Kapagod na din kasi magtrade lalo na sa futures, walang future 😂
Oo nga eh hanap na lang passive income 😂 pinipirahan lang tayo sa futures 😂
I really learnt, guess I'll give this a try