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May 20
2020
Education 101 Series: Stake & Take


Hey Binancians, thanks for checking out the latest installment in our Education 101 Series. If you missed our previous articles, check them all out here in Your Guide to Crypto Literacy.  

Stake your assets, take rewards. It’s that easy!

With Binance.US Staking, token holders can stake XTZ, ATOM, and ALGO to earn rewards for simply holding assets in their Binance.US account.

Curious about where those rewards come from? Read on to learn what staking is, where those rewards come from, and how easy it is to earn with Binance.US.

What is Staking?

In the context of blockchain and distributed ledger technology, “staking” is an alternative to the mining process that allows people to earn rewards by holding digital assets in an account to help validate transactions and secure the network.

Rather than using mining rigs to contribute “work” in the form of computer processing power, staking allows people to simply contribute or “stake” their digital assets.

Where consensus algorithms that use mining generate proof-of-work, blockchains that use staking use consensus algorithms that generate proof-of-stake.

What About the Rewards?

The rewards provided to node operators for doing things like mining and staking include transaction fees paid by individuals who want their transactions included on the ledger and a predefined amount of new assets minted by the network.

In other words, processes like mining and staking are how new Bitcoin, Ether, and other digital assets get created.

While staking does require a certain degree of technical ability, as does mining, staking platforms like ours help by taking those technical difficulties out of the equation. Just deposit your assets and we’ll take care of the rest!

Ready to Start Staking?

If you haven’t done so already, please register an account, complete basic verification, and make your first deposit using cryptocurrency, ACH, debit card, or domestic wire.

Once your account is funded, head to our Staking page to buy XTZ, ATOM, and ALGO and you’re ready to go: stake XTZ, ATOM, or ALGO now - and take your rewards later!

Learn more about Staking in Binance Academy

In case you missed the previous articles in our series, be sure to check them all out here in Your Guide to Crypto Literacy!

Ready to learn more?

Stay tuned for our next Education 101 Series! Follow us on Twitter @BinanceUS

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