Seeking Alpha
2022-09-07 21:03:25

Binance.US launches ethereum staking on its platform ahead of Merge

Binance.US, the American division of cryptocurrency exchange Binance, has introduced ethereum (ETH-USD) staking on its platform Wednesday as the blockchain "Merge" nears.In other words, users can now lock up there ETH tokens to earn annual rewards. Binance.US is starting it annual percentage yield at 6% for as low as 0.001 ETH staked, the company wrote in a blog post.That APY is quite competitive as rivals like Coinbase Global (COIN) and BlockFi offer as much as 4%, which is still considered high when compared with that of traditional savings accounts at nearly zero, for example. Binance.US first started offering staking in June."We continue to build out a comprehensive staking offering that will provide the most value for our customers," Binance.US CEO Brian Shroder said in a statement.In June, Binance.US to offer zero trading fee on bitcoin.

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.