Binance Launches Staking Platform with Support for 8 Cryptocurrencies

Binance, the world’s leading cryptocurrency exchange, announced the launch of its staking platform allowing its users to earn their staking rewards simply by depositing their funds on the exchange.

Staking is an essential part of maintaining proof-of-stake (PoS) networks and grants stakers rewards based on their contribution to network stability and security. Some PoS networks even use the staking mechanism for on-chain governance.

Staking on Binance Made Easy

Binance, as one of the exchanges with the deepest liquidity pools for cryptocurrencies, now allows users to earn rewards for simply depositing and holding assets on the exchange. The staking platform will guarantee a fair distribution of rewards by taking hourly snapshots for user balances on the respective staking blockchains.

Binance is making it very easy for users to stake, with no additional input from users and no minimum staking amounts. Rewards will be distributed at the end of the month, according to CEO Changpeng Zhao. Read More...

#Binance #NEO #ONT #VET #XLM #KMD