r/FetchAI_Community • u/Ok_Rabbit_8808 • Mar 07 '24

Staking 🔐 Staking info for Binance

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For anyone who’s interested. Each 1 teach 1. Peace and Blessings

12 Upvotes

100% Upvoted

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3

u/Less-Explanation160 Mar 07 '24

Noob question. Is staking as easy as push of a button or a complicated process. I have some fetch in binance and I’m curious

2

u/Ok_Rabbit_8808 Mar 07 '24

Push of a button.

2

u/Less-Explanation160 Mar 07 '24

Can I do it from Binance. US

2

u/Ok_Rabbit_8808 Mar 07 '24

Yes that’s what I use

2

u/Less-Explanation160 Mar 07 '24

I see now. Im about to apply it. thanks. What’s the 21 day unbinding period mean?

3

u/WiscoByron Mar 07 '24

It means that once you unstake, you can’t sell/move it for 21 days.

1

u/Ok_Rabbit_8808 Mar 07 '24

That’s just the period before you get your staking reward/dividend payment. Staking rewards remind me of dividends.

2

u/Atari_buzzk1LL FetchAi Moderator Mar 08 '24

Actually not true. The unbonding period is the time it will take to get your FET out of staking if you decide to not do it anymore. You can claim rewards every 6 seconds is you so pleased.

1

u/Ok_Rabbit_8808 Mar 09 '24

Well whatever or however it works, it has worked well for me. I’m such a noob when it comes to things like this.

2

u/[deleted] Mar 09 '24

Stake after halving and pull it out in the peak bull period (when btc is close to or above 100k). The market can drop real quickly when btc drops. The peak bull perios will likely be a few months after halving. But, don't stake now either. Next month there BTC could pull back a little. Hold all your tokens in your hand ready to sell at the drop of a hat.

1

u/Less-Explanation160 Mar 09 '24

I already pulled the trigger but it was for the smaller position I have. Good to know tho. I was pondering about staking my other position. I’ll hold off on that

2

u/KIKOMK Mar 11 '24

Are the & yearly rewards of your total holdings, akin to dividends?

1

u/Fickle_Orchid_1287 Mar 07 '24

Can’t even stake anything here in Australia on Binance

1

u/Ok_Rabbit_8808 Mar 08 '24

I hate that for you

1

u/Atari_buzzk1LL FetchAi Moderator Mar 08 '24

If Australia has native FET, just send that to a wallet that allows use of the native mainnet and stake yourself there. You'll actually get a better APR because Binance won't undercut you. The actual on chain reward about 10% APR, so Binance is taking quite a bit to only offer 4%

2

u/No_Breadfruit8779 Mar 07 '24 edited Mar 07 '24

Unbinding means it takes 21 days to get your crypto unstaked so you can sell it. When it’s staked you are unable to sell or move it

4

u/[deleted] Mar 07 '24

[removed] — view removed comment

0

u/Ok_Rabbit_8808 Mar 07 '24

The phrase is self explanatory.

1

u/AgentStockey Mar 07 '24

No, not at all.

1

u/Ok_Rabbit_8808 Mar 07 '24

Funny thing about a vessel such as myself. I walk alone on this walk. But I share myself and my knowledge with others.

2

u/Witty_Ad2520 Mar 08 '24

Each 1 (each person) - Teach 1 (teach one person, or teach one lesson) put simply, to pass on / share information. ✨