Finally got to Locked, which I wrote about in the previous post.
Honestly, I kept putting it off for a long time. The word โLockedโ didnโt really inspire confidence somehowโit felt like I would block something somewhere and then not figure it out later ๐
But itโs actually much simpler there.
In Earn, you choose the same coin you worked with in Flexible, and you just switch to Locked.
Next, you see the available terms. Usually there are a few: shorter and longer ones. The longer you lockโ the higher the rate.
You pick a term, an amount, and before confirming you read the terms for early withdrawal.
This part is important.
In Flexible, you can withdraw money at any time, but the rate is lower.
In Locked, the rate is higher, but if you withdraw the money earlier than the term, the reward accrued for that period can be lost completely.
So the scheme is simple: higher rate in exchange for not touching the money during that time.
I put in the same amount I used in Flexible in the previous postโthis time for a month.
The rate came out higher by a few percentage points. How much that turns into in moneyโIโll show after the term ends. I donโt want to calculate a โprofitโ that doesnโt really exist yet.
For now, this is how I see it:
If youโre sure you wonโt need the money for a month, Locked makes sense.
#BinanceEarn #Locked