Cryptocurrency staking allows you to earn passive income on your existing cryptocurrency holdings. Like the name suggests, cryptocurrency staking is typically, but not always, available on assets that use the Proof-of-Stake (PoS) consensus mechanism.
Here’s how it works: When you stake crypto, you commit your assets toward securing the asset’s Proof-of-Stake (PoS) network. As long as your assets remain staked, they’re used to verify transactions on the network, facilitate decentralized governance, and improve the network’s resilience. To incentivize staking, the network generates rewards through newly created block rewards and/or transaction fees collected from circulating assets.
Independent cryptocurrency staking can be a daunting process for most individuals. In addition to meeting hardware requirements that may vary from asset to asset, users may also need to install and run their own nodes. That’s where Binance.US Staking comes in. With a user-friendly interface and industry-leading uptime across nodes, Staking is the destination of choice for customers looking to earn rewards on their assets.