What is staking Ada on Binance?

Staking ADA on Binance is a convenient option to passively earn some extra coins. By staking ADA on Binance, you can earn ADA without having to worry about managing your private keys and keeping your Cardano wallet software up-to-date with the latest releases.

Is Binance staking safe?

I’m not 100% familiar with how Binance staking works, however I do know that staking with a stake pool is very safe. You are always in control of your ADA and there is no lock up period. Are in currently in an ADA SPO? Any youd recommend? My recommendation is also to stay away from staking on exchanges directly.

Is staking Ada profitable?

For a long-term investment, staking ADA is profitable, as you receive around 5% returns per year (up to 8.38% on Binance). However, if you are thinking of making a lot of money quickly by staking ADA, then it's not the thing for you.

Is ADA more secure than Binance?

Staking on ADA is more secure than on Binance because private keys are stored encrypted on your device and not shared with third-party servers. There is also added security if you prefer to store your ADA on a hardware wallet, as Yoroi connects easily with Ledger and Trezor cold wallets.