Staking is a way to earn passive income by holding cryptocurrency, and Binance makes the process very simple. After registering on Binance, you can find staking products in the Earn section. Download the Binance APP for convenient staking management.
What Is Staking
Staking means locking your cryptocurrency in a blockchain network to help verify transactions, and in return you earn rewards. Binance simplifies this process -- you just need to subscribe with a tap.
Types of Staking on Binance
ETH Staking
Staking ETH earns you WBETH, which automatically accrues staking rewards while you hold it. When you want to exit, you can convert WBETH back to ETH.
Other PoS Coin Staking
Multiple PoS coins are supported for staking, including DOT, ATOM, ADA, and more, with different yields for each.
Staking Steps
- Go to "Earn" in the Binance APP
- Find the "Staking" section
- Select the cryptocurrency you want to stake
- Check the estimated annual yield
- Enter the staking amount
- Confirm and complete staking
Risk Warning
- Coin prices may drop during the staking period, and yields may not offset price losses
- Some staking products have lock-up periods during which redemption is not possible
- Yields are not fixed and fluctuate with market conditions