Making my cryptocurrencies work for me – Homework for Crypto Academy lesson from @fendit.##

Source: Two vectors from Pixabay, a background from Pixabay, and own work!

My thoughts about risk aversion
In crypto, we all want to get rich as quickly as possible. As a result, we often take great risks, hoping that it will help us get a lamborghini or reach the moon in less than a year. But, when it comes to riska version, I consider myself to be a quite conservative person. I want to get rich as well, but not at any cost.

I follow a few principles when it comes to investing. I never invest in futures, nor do I work with shorts and longs. It is way too risky, and even though it might bring a higher profit, there is also a higher risk involved, and I am not willing to take that.

At Binance, there are a couple of investment possibilities that I find to be truly amazing.

The Launchpool and Launchpad projects are both secure places to "stake" your money. The Launchpool option was incorrectly described by Fendit in his lesson (the way I see it). Because you only use your BNB and BUSD, but there is no risk involved, I consider this to be one of the safest ways to invest. You can also unstake your funds at any time and receive them back into your account. Because your funds are not locked up, you can stop staking at any time. To put it another way, your funds are not in jeopardy, and you will never "lose" anything by using this method. Instead, you will always be rewarded for staking in the current launchpad project.

Projects on the Launchpad are great for generating excitement and can be redeemed at any time.

Those who stake in the Launchpad on Binance are currently rewarded with the FLM token. I've tried it out myself, and I'm withdrawing my FLM rewards on a daily basis, as well as removing and adding BUSD funds as needed.
It's certainly preferable to having no interest at all, but there are undoubtedly more rewarding options available.

Binance Vault is also a risk-free investment.
The Binance Vault and the Binance Launchpad are very similar. In fact, the BNB tokens you hold in your Binance Vault will participate in the Launchpad projects automatically. As a result, you will be given a choice of tokens available through the Launchpad, as well as interest on your BNB tokens. Overall, a very good solution that is completely risk-free, as there is no risk of losing BNB tokens, but you will still earn a nice interest through all of the tokens you receive as interest.

The savings are both flexible and fixed.
Personally, I've tried them out and find them to be a lot of fun. The flexible savings are particularly appealing because you can simply deposit funds and earn a low interest rate (which is still better than nothing), and you can withdraw funds at any time to use for other purposes. It may not attract as much attention as the Binance Vault and Launchpad projects, but it is still a viable option.

Fixed savings is something I find useful for tokens I want to keep for a long time. In other words, it's ideal for tokens that I don't plan to sell and instead keep in my wallet. Icon is an example of this type of token, and I always stake my ICX tokens on Binance with fixed savings. In this way, I am able to increase my ICX token holdings while avoiding any risk. Of course, I won't be able to withdraw them if I decide to sell them at any time. As a result, I usually reserve this option for tokens that I intend to hold for a long time and do not intend to sell.

The distinction between fixed, flexible, and high-risk products, as well as launch pools!
I've already gone over this in great detail above, but I'll summarise it now.

Savings options are numerous.
You deposit your funds into flexible savings and earn a low daily interest just for having them there. You have no risk of losing your money, and you can withdraw it whenever you want.

Savings that are not variable
You can increase the amount of money in your fixed savings account. They will then be locked up for a predetermined period of time at a predetermined interest rate. There are no risks, but you won't be able to access your money until the fixed saving period is over.

a starting point
You can bet BNB, BUSD, and sometimes a third token against a daily interest in the form of a new token that will be added to Binance or that has already been added to Binance. There is no risk involved, and no money will be lost. Interest rates on these types of projects are frequently between 4% and 10%.

Pool of launchers
Initial Exchange Offerings, or IEOs, are arranged by Binance on occasion. You must keep BNB tokens on the platform in order to participate. You will be able to participate in the Launchpool based on your average BNB holding for a set period of time (buying the new token). Following the 4-hour period during which Binance checks your BNB holdings, you can join the Launchpool with your BNB tokens. Due to high demand, you will typically only be accepted with 0.5% of the total amount requested. As a result, if you donate 100 BNB to the launchpool, you will most likely receive 99,5 BNB tokens in return, with only 0.5% of your holdings being deducted and converted into tokens for the new project.
However, based on my personal experience, there is a lot of demand, and tokens are frequently sold at a price 10x-20x higher than the IEO price right after Binance lists them.

Staking out DeFi
On Binance, you have the option of doing DeFi staking. This is also a secure investment because you can stake your tokens and receive a fixed interest rate in the same currency after a certain period of time. During this time, you will not be able to withdraw any of your staked funds. This is very similar to the fixed savings mentioned previously.

Binance is a high-risk investment platform.
On Binance, high-risk investments are available in a variety of forms. It is possible to earn a living as a liquidity provider (like you can on Uniswap, PancakeSwap, and other similar exchanges). This has the potential to provide you with significant profits, but there is also a significant risk when you become a liquidity provider. Impermanent loss is the most well-known expression in this context. If one of the tokens you add to such a liquidity pair "goes west," you may end up with a lot of "junk" tokens and a small number of the truly valuable ones. Finally, while your participation in the liquidity pool may have resulted in gains and interest, you are still losing money due to the price decline of one of the tokens you invested in the pool.

You also have the option of making a dual investment, which is a high-risk investment. It may not appear to be a high risk in the end, but if the market crashes, the value of your investment could plummet by the time the dual investment period ends.
my ICX tokens into a 60-day fixed savings project. I've been promised a rate of interest of around 13%, which is a very good rate of interest.

icx staking.jpg icx staking.jpg icx staking.jpg
On Binance, you can set up a fixed savings deal.

On the Binance platform, it is very simple to put your crypto to work for you. The majority of the options are risk-free, while others have a higher level of risk.

But, in the end, Binance is a simple platform to use and an excellent platform for those who want to make their cryptocurrencies work for them!
Regards
@hamidsab