This article is going to be lengthy as it encircles all mandatory information regarding LaunchPool,Staking and Pay(Pay is refer to buy anything through the binance plateform).Let's start.
Binance Launchpool.
Binance Launchpool is such a platform that allows every user to stake their BNB or any other coin mentioned to earn new crypto, minimum requirements are 0.1BNB or would be mentioned in project to stake.There's no maximum cap of participation(always read terms and conditions carefully), and rewards would be distributed according to the user's pool contribution.
How to participate in Launchpool.?
First click on your Binance App Homa page, click on the "More" icon to go to "Services" Where you will find "Launchpad" under "Earn Services". Now select a Project that suits you better(a project always enlightens all the necessary details) ,stake your tokens(Follow the instructions and complete the process) earn rewards throughout the certain time period, you can unstake and claim Rewards any time if you didn't attempt to lock the project for a certain time period.Now time to monitor and manage your staked assets.Always make sure to read the terms and conditions properly before making an entry on any Launchpool project.
Staking
Staking is a process by which individuals lock their cryptocurrency (their “stake”) to support the security and operation of a blockchain network. When someone stakes their coins, they are essentially helping to secure the chain and validate transactions on the blockchain.(A classic definition of Staking)
How to stake on Binance.?
To stake your cryptocurrencies on Binance, you'll need to go to the "Earn" tab and select the "Staking" option. From there, you can choose the crypto you want to stake and the time period you want to stake them for.
Pay.
Binance Pay is a medium through which any KYC binance member can shop on Binance app.From any country where binance is applicable it works with a secure system.You will shop a certain product with a price of mentioned crypto, isn't it astonishing!, binance marketplace offers hotels booking, mobile data ,crypto transfer to friends and family and so on....
How to access Binance Marketplace to check PAY
1. Log in to your Binance app. Switch to Pro Mode from [Account Center] if you’re on Lite Mode.
2. On the homepage, drag down to access [Marketplace].
Please make sure your app is updated to the latest version.Now explore different products and services,also get showered with suitable transactions.
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