Binance.US launches its Ethereum Staking service with more attractive returns than the biggest competitors in the market.
Highest APY Ethereum Staking Service
Binance.US is currently offering Ethereum staking to its customers with 6% APY. This is seen as a move that Binance.US hopes will increase competition and attract users from other US-based competitors, such as Coinbase, before The Merge.
In what is seen as a bold move for Binance US as the exchange offers better APY Ethereum Staking than its major competitors. For comparison, Nexo offers 4% APY, Blockfi 4% APY, Lido Finance 3.5% APY, and Coinbase 3.25% APY.
To address the barrier of needing 32 ETH to stake directly through the Ethereum network, Binance US will allow users to stake on their platform with a competitively low minimum of just 0.001 ETH.
“We’re offering all customers the ability to earn 6% APY on Ethereum at launch – the highest of any major U.S. platform. Plus, you can start staking on-chain from as little as 0.001 ETH or just ~$1.56! More to come with our staking offerings on Binance.US,” CEO of Binance.US Brian Shroder said on Twitter.
Due to the complex nature of The Merge, there is no guarantee that the transition will go smoothly. User risks could include extended payback periods or loss of principal if the upgrade fails. Binance US does not guarantee how much ultimately ETH staking participants can get back.
Binance.US does not intend to support Ethereum fork tokens in the future. Assuming Ethereum splits into different chains related to the new token, they will not be immediately listed on Binance.US until going through the same verification process as any other token.
Source : bsc.news
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