Yes, loaning money increases liquidity for the bank/casino/whatever, so staking is a thing as long as money is a thing.
I knew that Binance offered such an option, however, I never bothered to investigate much further.
What you've neither bothered to investigate is which exchange you should use. Even if you had no idea what's a decentralized exchange, neither of the
disadvantages one does have with centralized exchanges, why don't you use another exchange? It is known that Binance charges extremely high fees, about 100 times more than it should, for no fucking reason. They're perpetually ripping you off. And there's more than money; read the link.
I'd appreciate any advice from more experienced users, thank you in advance.
There's nothing serious to be said in here. If you hand out your money, they're no longer yours. Sure, 8% APY is a sweat profit, but that's until the casino/exchange bankrupts, disappears, gets hacked, pretends to have got hacked etc. This doesn't sound a good deal to me.
