Binance, one of the world’s leading cryptocurrency exchanges, offers a unique feature that allows users to lock their assets for a set period of time. This feature is called “Binance Lock-up” and it allows users to lock their assets for up to 12 months.
The Binance Lock-up feature is designed to help users grow their assets by allowing them to “set it and forget it”. By locking up their assets, users can avoid the temptation of selling when prices are down and missing out on the UPSide potential.
The Binance Lock-up feature can be accessed by going to the “Funds” section of the Binance website and clicking on the “Lock-up” tab. From there, users can select the asset they wish to lock up and the duration of the lock-up period.
Once an asset is locked up, it cannot be sold or transferred until the lock-up period expires. However, the asset can still be used to trade on the Binance platform.
For example, if you have locked up BTC, you can still use it to trade altcoins on Binance.
The Binance Lock-up feature is a great way to grow your assets while avoiding the temptation to sell when prices are down. It is important to remember, however, that once an asset is locked up it cannot be sold or transferred until the lock-up period expires.