Binance.US is usually permitting customers to stake their ETH to make an attractive APY of 6%. The exchange had earlier launched staking services in June 2022.
One of the highly anticipated crypto events of the year, the Ethereum merge is usually scheduled to deploy within the Ethereum mainnet next week. Within this wake, several crypto exchanges incorporating Binance.US have come up with attractive staking solutions to enable users to deposit their ETH to earn exclusive staking rewards.
Binance.US Launches Staking Program PRIOR TO THE ETH Merge
Binance.US has got launched a special staking program prior to the upcoming Ethereum merge. Based on the official blog update, users can earn large APYs on their locked ETH starting from 6%. Nevertheless, the staking service, at the moment, can only end up being availed by Binance.US customers based in the United States.
Introducing ETH #Staking
Earn 6% APY on #Ethereum. Lock in your $ETH for next-level rewards with the highest APY among major #crypto exchanges in the US.
Grow your portfolio while you wait for Ethereum Proof-of-Stake upgrade to launch.
Get Started: https://t.co/m4zCkbj0zn pic.twitter.com/lZfQB6GWGe
– Binance.US 🇺🇸 (@BinanceUS) September 7, 2022
The statement further outlines how Binance.US is narrowing the entry barrier into the staking domain by lowering the minimum ETH requirement by almost 90%. Per the official blog post, users can now stake ETH on Binance.US with a low minimum balance of 0.001 ETH.
“While there is a 32 ETH requirement for staking directly with the Ethereum network, users can stake on Binance.US having a competitively low minimum of just 0.001 ETH. By launching staking for ETH – one of the world’s most widely held tokens – Binance.US is furthering its commitment to always provide customers with the best products and services.”
Per the exchange CEO, Brian Shroder, Binance.US is offering one of the highest APYs in the industry to deliver maximum value and benefits to its users.
“ETH plays a critical role within the broader Web3 ecosystem, and as the Ethereum network continues to transition for the Merge, we are thrilled to now offer ETH staking with some of the highest APY rewards within the industry…We continue to build out a comprehensive staking offering that may provide the most value for our customers.” Shroder later shared
The exchange first started offering ETH staking services in June 2022. Later on, the exchange evolved to offer some of the most simple and user-friendly mechanisms permitting users to auto-stake tokens in a few simple clicks.
Ethereum staking has evolved consistently and has become a popular tool for users to maximize their yields and accrue more profits on their staked assets. Per the data shared by crypto insights firm Arcane Research, the total amount of staked Ethereum has registered a significant surge of 100% in 2022 as compared to the data reported last year. In 2021, nearly 6.5 million ETH was staked in different staking pools whereas, in 2022, the number has vigorously doubled and it is presently sits at 13.4 million ETH.
Image: Binance.US/Twitter