Binance US, the American division of popular cryptocurrency exchange Binance, recently announced that its users can now stake select coins and earn rewards. The list of supported coins includes Ethereum (ETH), Tether (USDT), Algorand (ALGO), and more.
In order to stake a coin on Binance US, users must first deposit the coin into their account. Once the deposit is confirmed, users can then navigate to the “Staking” section of the website and select the coin they wish to stake.
After selecting the amount of coin they wish to stake, users will need to confirm the transaction.
NOTE: WARNING: Staking coins on Binance US carries risk, and users should be aware of any legal or regulatory requirements associated with staking on the platform. There may also be fees associated with staking coins, so it is important to read the terms and conditions of any coins you are considering staking. Additionally, staking on Binance US can lead to a loss of funds if the coin in question depreciates in value or if the market shifts. Users should research each coin thoroughly before deciding to stake them on Binance US.
Once the transaction is confirmed, users will begin earning rewards for their stake. The amount of rewards earned will depend on the specific coin being staked as well as the length of time the stake is held.
For example, ETH stakers can currently earn an annual return of around 5%.
The list of supported coins is subject to change and may be expanded in the future. Currently, only select coins are available for staking on Binance US but more are expected to be added in the future.
So, if you’re looking to earn some extra income from your cryptocurrency holdings, make sure to check out Binance US’s new staking feature.
3 Related Question Answers Found
As the world’s largest cryptocurrency exchange by trading volume, Binance has been a pioneer in the crypto space since its launch in 2017. In the years since, the company has built up a solid reputation as a reliable and secure platform for buying, selling, and trading cryptocurrencies. Recently, Binance has expanded its services to include a US-based exchange, Binance US.
Yes, you can trade coins on Binance US. The process is simple and straightforward. First, you need to create an account on Binance US.
If you’re a United States citizen and you want to trade on Binance, you need to use the Binance US platform. Binance US is a digital currency exchange that launched in September 2019. The exchange is operated by BAM Trading Services and is a part of the larger Binance ecosystem.
