Binance platform adds a new feature to the platform to earn more cryptocurrencies
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Answer Binance platform adds a new feature to the platform to earn more cryptocurrencies
announced platform Binance Last Thursday -September 26- announced a new staking platform.
The new platform provides the process of earning rewards by depositing money in the platform and saving it on the Binance platform.
Meaning, Binance staking is in the process of holding funds in its wallet to support the operations of blockchain networks.
Although the process of staking for various cryptocurrencies was carried out by the Binance platform earlier, it seems that it wants to specialize in the process more by providing a platform and a website for that.
The CEO of Binance spoke about the new platform on Twitter:
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Staking Binance. You don’t have to do anything literally. Your funds on Binance are automatically shared. You can still trade as you normally would.
Keeping it simple!
– CZ Binance (@cz_binance) September 27, 2019
Users will earn global rewards without having to set up any contracts, worry about minimum storage amounts, consider time factor, or any other technical requirements.
It was also mentioned that there are updates and improvements to the Binance staking platform that will launch on October 1.
Snaps will be captured 24 times a day, every hour, for a more accurate reward distribution.
As for the currencies supported by the new platform, some of which we have already mentioned in detailed topics are:
Algorand, Komod, Neo, Stellar, Vechain, Stratis, Qtum, Ontology.
It should be noted that the new platform from Binance does not charge any fees for the staking process, and there is no specific lock-up period, but coins can be sold and withdrawn with the possibility of stopping receiving rewards at any time.
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That is, your cryptocurrency can be traded even during the process of accumulating and staking.
A competitor to Binance’s Coinbase also offers pooling and staking, which started with Tezos on March 29th.
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