Binance US joins the other leading crypto exchanges, Kraken and Coinbase, in the staking game, as the exchange announces its plans to introduce stacking rewards in February, official website states.
It is reported: “We are excited to share that Binance US will offer staking rewards on its platform and app starting in February, 2020.”
As stated in the report, at the beginning staking rewards will be available for Algorand (ALGO) as well as COSMOS (ATOM) starting from the upcoming month. What is more, the exchange announced the intention to add more Proof of Stake (PoS) coins available for listing and staking down the road in the future.
One of the leading exchanges in the world noted that towards their objective to expand financial inclusion, they believe that a simple, secure on-ramp to staking gives more people the opportunity “to earn rewards for contributing to the network by promoting network security, reducing validation costs, and simplifying consensus mechanisms.”
The exchange mentioned: “Staking is one of crypto’s most important advancements, and we are excited to welcome U.S. participation in supporting the operations of these blockchain networks.”
As CEO of Binance US, Catherine Coley told, the exchange provides lots of people the opportunity to get involved in crypto market. They try to make users’ crypto experience more interactive and allow them to take advantage of HODLing crypto coins and tokens.
In the report, it’s also told how to earn staking rewards, mentioning that there are 2 ways of earning them on Binance US. First, the ALGO and ATOM holders through Binance US will automatically start earning rewards once the program goes live next month. The second way of earning staking rewards is to buy the aforementioned tokens and participate in the staking program.