Crypto Academy Week 10 - Homework Post for [Professor @fendit] Homework post by @ebiis
Thank you professor @fendit for the great lecture. I must be sincere I never knew Binance gave return on investments. But with this lecture I have been able to see and I will keep doing more research on investing with Binance.
1. Which is your risk aversion, which of these products you find the most appealing and why?
I am a moderate tolerance risk trader as I majorly fluctuate between fast moving coins when the buzz is high and it shows high profitability, but also trade slow moving coins when market is normal and I do not want to have an increased blood pressure trading.
I find the fixed savings plan more interesting because:
2. Explain in your own words fixed and flexible savings, high risk products and launch pools
Fixed Savings:
The fixed saving plan which is like a lock up chest to redeem later is a great return on investment plan by steemit. This which I prefer because it has a shorter day period but at a fixed time, means once you lock up your funds on that plan, you can only access them after the days duration.
To access the Binance Fixed plan on your mobile, open the binance app:
Go to savings:
Go to locked :
Here you can choose the coin that best fits you.
Flexible savings.
The flexible savings plan which is a good idea for faint hearted investors is an APY package by binance where you invest on coins on the binance savings platform, but with the ability to redeem them anytime you do not feel comfortable or want to quit. This can be a good idea considering crypto volatility.
To access the Flexible savings on binance,
Open the Binance app and goto savings:
Flexible is the first option you see.
Then you can choose the best coin that fits you.
High Risk Products:
The Binance High risk staking is a platform on the binance finance, where you can put your money on some coins hoping it will gain the proposed annual percentage yield after the specified amount of days. This which I think can be risky considering crypto volatility, can also be profitable if it goes well for you.
To access the Binance high risk products on your mobile phone:
Open the Binance app and click on more:
Click on staking under finance:
Now you can select the coin and specific period of time you want to stake that coin.
Launch Pools:
Binance as the world biggest crypto exchange, launched its launch pool, an idea I think is great for investors and new crypto companies.
The binance launc pool is a crypto farming platform where staking your BNB or BUSD for the launch of a crypto coin over a certain period of time gets you the advantage of both gaining back you coin, and gaining a percentage of the launched coin based on the contract and the amount of your BNB staked.
To access the Binance launch pool from your mobile, open the binance app and click on Launchpad.
3. Show and give detail on how to set the investment you chose in Binance.
The fixed savings plan on Binance can be made by:
Open Binance app and go to savings:
Click on Locked:
Select the coin subscription you want.
You are now in the purchase confirmation page, here you chose the date, amount of lots, you can also toggle renew with a flexible saving plan, accept the service agreement. Then click confirm purchase.
Conclusion.
Knowing that I could do more with my coins is a great experience. I would advice everyone to also check our the saving and staking plans on the Binance exchange platform. The are easy to make and give a detailed view of what you are going into to avoid uncertainties.
Doing more is great, more with crypto.