Binance US currently offers crypto stake services, and the company details that seven digital currencies are currently available with up to 18 percent annual percentage yield (APY). Customers can earn yields on proof-of-stake (PoS) cryptocurrencies including BinanceCoin, Solana, Avalanche, Livepeer, Graph, Cosmos, and Odius.
Binance US Adds Staking Service
On Twitter, Binance US explained that the company has now joined the various crypto exchanges that offer staking services.” Binance US has officially launched staking, allowing customers to do more with their money.” The company releaseddetailson Tuesday.” Customers can now stake while generating up to 18% APY, the highest rate among US crypto companies,” the exchange added.
Currently, Binance US offers staking services for seven different crypto assets, includingBNBAudio, Abax, Sol,ATOM (ATOM)LPT and GRT. Binance US shows; BNBcurrently offers an annual percentage yield (APY) of about 6.4% and LPT’s staking fee is 18%. When an individual on Twitter asked,Binance US asked, “Can we expect more options in the future?” and the exchangeasked: “Yes. More to come.”
With Binance US entering the staking services game, the company joins Crypto.com, Kraken, Gemini, Coinbase, FTX, Tradestation, and other trading platforms and other competitors that offer staking services to their customers. In addition to centralized exchanges, crypto users can also take advantage of decentralized financial (defi) applications and stake coins in an unmanaged manner by delegating coins directly to PoS network validators.
Binance US is the American partner of Binance, the world’s largest crypto exchange by trading volume.Founded in 2017, the exchange stopped serving Americans in 2019, shortly after which its subsidiary Binance US was revealed. according to data from coingecko.com, Binance is the world’s largest by trading volume, while Binance US is the 15th largest at the time of writing.
According to people familiar with the matter speaking with Bloomberg, parent company Binance is reportedly facing scrutiny from the US Securities and Exchange Commission (SEC). The alleged investigation relates to whether the crypto asset Binance Coin (BNB) is an unregistered security.
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