Binance.US is permitting users to stake their ETH to earn 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 scheduled to deploy on the Ethereum mainnet next week. In this wake, several crypto exchanges including Binance.US have come up with attractive staking solutions to permit users to deposit their ETH to earn exclusive staking rewards.
Binance.US Launches Staking Program Ahead Of The ETH Merge
Binance.US has launched an exclusive staking program ahead of the upcoming Ethereum merge. According to the official blog update, users will be able to earn high APYs on their locked ETH starting from 6%. However, the staking service, at the moment, can only be availed by Binance.US customers based in the United States.
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 through the Ethereum network, users can stake on Binance.US with 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 in the broader Web3 ecosystem, and as the Ethereum network continues to transition towards The Merge, we are thrilled to now offer ETH staking with some of the highest APY rewards in the industry…We continue to build out a comprehensive staking offering that will 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 is presently sits at 13.4 million ETH.