Crypto Academy is indeed a wonderful initiative by the steemit team and all crypto professors are doing great work to make the community learn more about crypto and blockchain.

Every week we get articles with another topic related to crypto and blockchain. This is helping us to learn and enhance our knowledge about crypto and there is a lot to learn.

This week crypto professor @fendit has talked about passive income through crypto coins. This is one of the important topics that every cryptocurrency user should know because this can make them earn something while holding their crypto coins.

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Which is your risk aversion, which of these products you find the most appealing, and why?

I am very new in the crypto space however I have completed two years on the Steemit platform but as a trader, I just completed only a few months. I started my crypto journey as a content creator on Steemit and before this, I did not know much about this segment. In fact, I have opened my trading account in Huobi recently. These days I see a lot of people talking about finance exchange but sadly I never created my account in the Exchange yet. in this post, you talked about bananas quite in detail which is great, and I am impressed with the kind of functions and services this exchange is offering so I am thinking to create my account in Binance soon.

Since I'm quite new in trading so my risk aversion is also highly risky and I usually prefer not to put my money on anything which is quite risky so I can say that anything that has the least chances of risk would be good for me. I am a traditional investor who invests money in things like gold and bank deposits but after coming into crypto my mindset changed. I do have some investment in one of the Indian exchanges and that is a kind of risk-free however written is also not so high but that is best suited for me.

I believe that unless I have enough knowledge about anything then I should not put my money into it. I need to learn and experience more first and need to gain the knowledge because if something goes wrong then at least I am not losing money. I prefer not to take the experience by losing my money that is why I am trying to learn many things without investing or even with a very small amount of investment. It's ok if I do not earn big but at the same time, it is also not ok if I lose big because at least in this case I might not get a big amount of return and it will not take my capital investment away which I can't afford to lose.

I have staked my holding in Bitbns exchange. It's one of the leading exchanges in India they offer Fixed Income Plans for Bitcoin and Ethereum so I did it.

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You can check the more of the plans through this Link- https://bitbns.com/trade/#/fip/

It is not a new product and here is the official announcement post made by the exchange and it has complete details about the plan

Here is the snapshot of the upcoming plan and every Friday they launch the plans. These days plans are for 30 days and it's fixed. So whatever I deposit will get locked for 30 days and I have to wait for 30 days to get my funds back with a return. I like the product and have been doing it for many months and happy with this earning since it's safe and pay me a nice reward.

Explain in your own words fixed and flexible savings, high-risk products, and launch pools

After going through the post shared by the professor I have a nice idea about these products and here I am going to share what I understand from these.

Fixed savings-This is a product where we need to deposit or fixed and we have no options to get it back in between that is why it is called fixed saving. we usually get a slightly higher rate of return with such products because coins are locked for a certain period.

Flexible savings-This saving product is for those who hold coins but they might need their holdings back anytime. It's most suited if you want to earn from your crypto while having the flexibility to withdraw anytime and that's why it's called Flexible Saving.

High-risk products- It's a product that can generate higher returns but it also comes with a higher amount of risk. This is not for me because I don't invest in this type of product but good for people who are aggressive investors.

Launch pools-I heard about it some time back but now I checked out in Binance. They have a launch pool where new projects are launched and before the launch, we get the option to provide liquidity and this can make us earn some project tokens. This time I can see that the AML project is running on but since a very good amount of coins (BNB+BUSD) are deposited in the pool.

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Show and give detail on how to set the investment you chose in Binance. If you don't use Binance as your exchange, let us know which alternatives you have in your own exchange and simulate the process of investing in Binance.

I have already mentioned that I don't have an account in Binance but I don't have an account in Bitbns where I do trade and also deposit my coins to earn returns.

Since I invest in FIP (Fixed Income Plans) offered by Bitbns so I am sharing about the product and steps required to select and invest in the product.

See this screenshot and this is for ETH coin. This is for 30 days period and they offer 20% APR and under this, they accept a maximum of 100 ETH. This will start tomorrow 23 April 21 and this will be Friday. This plan will get active in approx 15 hours and there is an option to pre-subscribe which is a good thing.

If I do invest ETH with staking of BNS token then I will get 20% else they pay 15% Apr. I have recently purchased some ETH tokens and trying to accumulate more so that I can earn a bigger Apr. Here if I deposit 1 ETH then after 30 days I will be getting 1.01232876 ETH that means it will give me 0.01232876 ETH as earning.

The process is so easy as I just need to enter the amount according to my balance and confirm the stake. there are no charges for this and it's done.

Here I am sharing a snapshot of my exiting plan which I did for 30 days and I did it along with BNS staking so it's getting me to earn 20% Apr. This is 60% completed and out of 30 days, 18 days are completed. I will get the funds along with a return after 30 days and this process is automatic.

Now since I don't any more funds in my wallet as all of it is already staked so tomorrow I will be doing anything. Once I get this fund back then I will deposit and it again.

I checked out in Binance about the fixed saving plan offers 6.66 and 5.66% apr which is quite low as compared to what I am getting with Bitbns. 20% apr is so huge and I don't see any reason to make a switch to Binance for fixed earning.

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It's always good to earn the higher apr along with the least risk so I can say that Bitbns is a better choice for me and it's helping me earn pretty good every month. I will keep a close eye on Binance if there is something so competitive and better than this. I have no plan to sell my holding for now so it's a good way for me to earn something on it month on month.

I enjoyed the learning through this post and it was so useful information.

Thank you so much.

(Images are taken from Bitbns exchange for post purpose only)