Binance is a well-known cryptocurrency exchange that also provides various other services related to cryptocurrencies. One of these services is the ability to invest cryptocurrency. It is one of the few platforms in India that allows you to invest different cryptocurrencies. In this article, we will take you through a step-by-step guide on how to invest cryptocurrencies in India on Binance.
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Bet Crypto Meaning
Before we move forward with the investment guide, let’s take a quick look at what investing is and what benefits it provides.
Staking is a low-risk method of earning interest on your cryptocurrency. Think of it as a fixed deposit for cryptocurrencies. Your crypto is locked for a certain period and earns interest during that period. When the period expires, your crypt is returned to your wallet along with the interest they earned. This is a great option for long-term cryptocurrency owners.
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How to invest crypto in India
We will use binance for investment because it is a reliable platform and one of the few stock exchanges that allow investment in India so far. You can choose between locked and DeFi staking. Locked staking is when your crypt is locked for a certain period and earns only interest when that period ends.
DeFi Staking there is Flexible period so you can withdraw your crypt at any later time without losing interest. It allows you to participate in DeFi projects and Dapps. So, instead of going through the hassle of creating and understanding a private wallet and DeFi platform, you can invest directly through Binance.
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- Verified Binance Account
- The cryptocurrency you want to invest
Investing in Binance
Step 1: On the Binance homepage go to Make money section at the top, then select Staking from the list.
Now you can choose between Locked i DeFi Staking. We will look at Locked Stacking, but the process is similar for both.
Step 2: Go Locked StakingAnd select the crypto you want to invest. You have over 80 options to choose from.
Step 3: When you find the right one, choose the duration of the commitment. Some cryptocurrencies have a minimum duration of 30 days. Then click on Stake Now.
Step 4: You need to enter the amount you want to invest. In the lower right corner, you should see the interest rate based on the duration and summary of your deposit.
Step 5: When you’re done, just accept the terms and services and click on Confirm.
Great! You have successfully invested your crypt. You can view its status on the Wallet overview page.
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Investing is a useful low-risk method for long-term owners or those who just want to earn passive income from their cryptocurrencies. In the future, there could be more platforms that allow cryptocurrencies to be invested and provide more benefits. This was our guide on how you can invest cryptocurrencies in India using Binance. We hope the process was simple and easy to follow.
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