Staking rewards for ALGO and ATOM coming to Binance.US

Published on by Cryptoslate | Published on

US has announced the launch of staking rewards on its desktop and mobile app.

Staking rewards will be available for Algorand and Cosmos in February for Binance.

Binance becomes first U.S. marketplace to offer staking rewards for ATOM and ALGO. The world's largest cryptocurrency exchange closed off 2019 by introducing a Binance.

US, the exchange's recently powered U.S.-only marketplace, will begin offering staking rewards in February.

According to the company's official announcement, staking rewards will be available both on its desktop platform and mobile app.

Initially, the platform will only enable users to earn staking rewards for Algorand and Cosmos but added that more proof-of-stake coins will be listed in the following months.

The exchange is the first U.S. marketplace to offer staking rewards for both coins, it said in the release.

Back in September 2019, Binance launched its dedicated staking platform enabling its users to stake their XLM, KMD, ALGO, QTUM, and STRAT tokens and earn rewards on their holdings.

"Seventy percent of crypto users are focused on holding onto their assets rather than trading them, so staking provides an ideal solution for holders to passively earn rewards by supporting the operation of various blockchain networks."

The company seems to be aware of this, as they have called users to visit Binance Academy, its educational arm, to learn about what staking is.