Binance US Adds Staking Services for 7 Different Crypto Assets

Binance US Adds Staking Services for 7 Different Crypto Assets

Binance US is now offering crypto staking services and the firm details that seven digital currencies are currently available with annual percentage yields (APYs) up to 18%. Customers can earn yields on proof-of-stake (PoS) cryptocurrencies that include binance coin, solana, avalanche, livepeer, graph, cosmos, and audius.

Binance US Adds Staking Services

On Twitter, Binance US explained the company is now joining the ranks of the variety of crypto exchanges that offer staking services. “Binance US has officially launched staking, empowering customers to do more with their money,” the company detailed am Dienstag. “Customers can now stake while generating an APY of up to 18%, the highest rate among U.S. crypto firms,” the exchange added.

Zur Zeit, Binance US is offering staking services for seven different crypto assets, which include BNB, AUDIO, AVAX, SOL, ATOM, LPT, and GRT. Binance US shows that BNB currently offers an annual percentage yield (APY) of around 6.4% and LPT’s staking reward is 18%. When an individual on Twitter asked Binance US if they can “expect more options in the future?” the exchange replied: “Yes. More to come.”

With Binance US getting into the game of staking services, the firm joins competitors like Crypto.com, Krake, Gemini, Coinbase, FTX, Tradestation, and other trading platforms that offer staking services for customers. In addition to centralized exchanges, crypto users can also stake coins in a non-custodial fashion by leveraging decentralized finance (defi) applications and delegating coins directly to PoS network validators.

Binance US is the American partner of the world’s largest crypto exchange by trade volume, Binance. The exchange, founded in 2017, ceased servicing Americans in 2019 and revealed the subsidiary Binance US shortly after. According to coingecko.com data, while Binance is the world’s largest by volume, Binance US is the 15th largest at the time of writing.

Parent company Binance is reportedly facing scrutiny from the U.S. Securities and Exchange Commission (SEC), according to people familiar with the matter speaking with Bloomberg. The alleged probe is tied to whether or not the crypto asset binance coin (BNB) is an unregistered security.

Tags in this story
atom, AUDIO, audius, Avalanche, AVAX, Binance, binance coin, Binance.us, bnb, Kosmos, Exchange, exchange volume, graph, GRT, livepeer, LPT, PoS, Proof-of-Stake, Services, SOL, Solana, abstecken, staking services

What do you think about Binance US offering staking services? Teilen Sie uns Ihre Meinung zu diesem Thema in den Kommentaren unten mit.

Jamie Redman

Jamie Redman is the News Lead at krakow3d.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for krakow3d.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. krakow3d.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer