If you want to pledge ICP for a short period of time and consider selling in this bull market, you can consider staking ICP on Binance. The staking interest rate of Binance ICP is still acceptable: the staking period is 120 days, and currently 1,000 can be pledged, with an annualized return of 8%; the staking period is 90 days, and currently 10,000 can be pledged, with an annualized return of 5%. ICP can also be pledged to NNS, but there is no return in the last six months of the staking period. At the same time, if you sell in this bull market, then calculated on a 1-year basis, the annualized return during the dividend period will not be much higher than 8%, and you also need to actively participate in voting.
Therefore, if investors consider selling in this bull market, they can consider staking ICP on Binance, because based on a 1-year period, Binance's annualized staking return is currently higher than the annualized staking return of NNS with the same staking period. However, if you are a long-term investor in ICP and do not consider cashing out in this bull market, you can pledge ICP on NNS. Because when the pledge time is longer, the annualized pledge income of NNS will be higher and can cover the interest-free period of half a year.
It should be noted that ICP pledged in NNS cannot be redeemed in advance. ICP pledged on Binance is allowed to be redeemed in advance, and will be credited 2-3 days after redemption. Therefore, if investors need to consider whether to cash out ICP at any time, it is recommended to pledge ICP on Binance. If investors want to pledge ICP on NNS, they need to be extremely cautious when setting up the pledge market, because the pledge period cannot be shortened once it is set.
