Binance, the world’s largest cryptocurrency exchange by trading volume, is launching a new service that will allow users to earn staking rewards on their crypto holdings.

The new service, called “Binance Earn,” will initially offer two staking products: one for the popular Tezos (XTZ) cryptocurrency and one for the Binance-native token Binance Coin (BNB). Binance said that more staking products will be added in the future.

To participate in Binance Earn, users must first deposit their crypto assets into a special “Binance Earn wallet.” Once deposited, users can then choose to stake their assets for a set period of time and earn rewards based on the size of their stake and the length of time they locked up their funds.

For example, Binance is offering up to 10% annualized rewards for users who stake XTZ for six months, and up to 8% annualized rewards for those who stake BNB for two months.

At the end of the staking period, users can either withdraw their principal plus earned interest, or they can reinvest their funds back into Binance Earn to continue earning staking rewards.

It is important to note that Binance Earn is distinct from Binance’s existing “Binance Savings” service, which also offers interest-bearing accounts but requires users to lock up their funds for a set period of time. With Binance Earn, users have the flexibility to withdraw their funds at any time, though they will forfeit any interest that has accrued if they do so before the end of the chosen staking period.

The launch of Binance Earn comes as more and more crypto exchanges are looking to offer staking services to their users. Staking is a process whereby holders of certain proof-of-stake (PoS) cryptocurrencies can earn interest on their holdings by committing them to help secure the network.

Notably, Coinbase – the largest U.S.-based cryptocurrency exchange – recently launched its own staking service for select PoS cryptocurrencies. And earlier this year, Kraken – another major U.

S.-based exchange – acquired Circle’s Poloniex exchange in part so that it could offer staking services to Poloniex users.

It is clear that exchanges see staking as a way to attract and retain customers, as well as generate additional revenue. For crypto holders, staking can be a way to earn passive income on their holdings without having to sell them.

And because many exchanges offer staking services through custodial wallets, it can also be a convenient way to earn rewards without having to run your own node or worry about securing your private keys.

So is Binance Earn worth considering? For most crypto holders, the answer is probably yes. The interest rates on offer are competitive with other exchanges, and the fact that you can withdraw your funds at any time makes it a relatively low-risk way to earn passive income on your crypto holdings.

Binance Earn is an interest-bearing account that allows users to earn daily interest on their cryptocurrency holdings. The program launched in 2020 and has since become one of the most popular ways to earn passive income from cryptocurrency.

So, is Binance Earn safe?

The short answer is yes. Binance Earn is a safe and secure way to earn interest on your cryptocurrency holdings.

The program uses state-of-the-art security protocols to protect user funds, and all deposits are held in cold storage.

In addition, Binance Earn is backed by the world’s largest cryptocurrency exchange, Binance. This means that users can have complete confidence in the safety of their funds.

So, if you’re looking for a safe and secure way to earn interest on your cryptocurrency holdings, then Binance Earn is a great option.

Binance is a cryptocurrency exchange that was founded in 2017. The company is based in Malta and has offices in Japan, South Korea, and the United States.

Binance is the largest cryptocurrency exchange in the world with a daily trading volume of over $2 billion. The company has a team of over 200 employees.

Binance is a centralized exchange. This means that the company has full control over the platform and can make changes to it at any time.

The company can also freeze or close accounts if they suspect that someone is using them for illegal activity. Binance is not decentralized like some other exchanges such as Bisq or OasisDEX.

The company has been growing rapidly and has been adding new features to the platform. In 2018, Binance launched its own blockchain called Binance Chain.

Binance Chain is a decentralized platform that allows for the creation and trading of digital assets. The launch of Binance Chain was a major milestone for the company and helped to solidify its position as a leader in the cryptocurrency space.

Binance is constantly innovating and expanding its services. The company has plans to launch a decentralized exchange (DEX) on Binance Chain later this year.

The DEX will allow users to trade directly from their wallets without having to trust a third party with their funds. This will make Binance one of the most secure and user-friendly exchanges in the space.

Binance is always looking for ways to improve its platform and expand its services. The launch of the DEX will be a major step forward for the company and will solidify its position as a leading player in the cryptocurrency space.

Binance, the world’s largest cryptocurrency exchange by trading volume, has been expanding rapidly since its launch in 2017. The company now offers a suite of services including a spot exchange, derivatives trading, a venture capital arm, and more.

One of the latest additions to the Binance ecosystem is the Binance Custody service, which offers institutional investors the ability to safely store their digital assets. But what exactly is Binance Custody and how does it work?.

In this article, we’ll take a look at what Binance Custody is and how it works. We’ll also compare it to other popular custody solutions on the market and explore some of the advantages that Binance Custody offers.

What is Binance Custody?

Binance Custody is a digital asset custody service that offers institutional investors secure storage for their digital assets. The service is designed to meet the needs of institutional investors, such as hedge funds, family offices, and venture capitalists.

Binance Custody uses a multi-layer security architecture that includes both physical and logical security measures. Physical security measures include things like tamper-proof hardware devices and 24/7 surveillance.

Logical security measures include things like multi-factor authentication and cold storage.

Binance Custody also offers a number of features that are designed to make it user-friendly for institutions. For example, the service offers multiple account types, each of which has different permissions that can be customized to fit the needs of the user.

Additionally, Binance Custody supports multiple currencies and tokens, including both major cryptocurrencies like Bitcoin and Ethereum as well as lesser-known altcoins. And finally, Binance Custody offers an API that allows users to integrate the service into their own systems and processes.

How Does Binance Custody Work?

The first thing to understand about Binance Custody is that it is not an exchange. Instead, it is a custodian service that provides safe storage for digital assets.

When you deposit your digital assets into Binance Custody, they are stored offline in cold storage wallets. This means that your assets are not accessible by anyone except for authorized personnel at Binance.

To access your assets stored in Binance Custody, you must go through a process known as “withdrawal authorization”. Withdrawal authorization requires multiple signatories, meaning that multiple people must approve any withdrawals from your account.

This ensures that your assets are safe even if one person’s credentials are compromised.

Once you have initiated a withdrawal from Binance Custody, your digital assets are transferred to an “escrow wallet”. An escrow wallet is a temporary holding wallet that allows you to receive your digital assets while ensuring that they cannot be spent until all signatories have approved the withdrawal.

Once all signatories have approved the withdrawal, your digital assets are transferred to your personal wallet or address.

Advantages of Using Binance Custody

There are several advantages that come with using Binance Custody over other custody solutions on the market:

-Security: As we mentioned earlier, Binance Custody uses a multi-layer security architecture that includes both physical and logical security measures. This makes it one of the most secure custody solutions on the market today.

-User-Friendliness: Binance Custody is designed to be user-friendly for institutional investors. It offers features like multiple account types and an API for easy integration into existing systems.

-Currency Support: Binance Custody supports multiple currencies and tokens, including major cryptocurrencies like Bitcoin and Ethereum as well as lesser-known altcoins. This makes it a good choice for investors who want to store a variety of different digital assets.

-Cost-effectiveness: Unlike some other custody solutions on the market, Binance does not charge any setup or monthly fees for using Binance Custody. Instead, users are only charged when they make withdrawals from their accounts.