[news] Binance Launches Staking Platform with Support for 8 Cryptocurrencies

[nxnqauff]

Nice to hear this. I trust this exchange. If they offer such facility, I would like to go for it. Hope they dont change as soon as they receive lots of ETH and go away.

[1715371669]

1715371669

[1715371669]

1715371669

[1715371669]

1715371669

[1715371669]

1715371669

[bigcash2011]

Nice step from binance as it will help the newbie investor as he will be able to bypass the headache of setting up nodes and vpn just to stake a coin and also buying certain amount of coins before staking was a big hurdle, now when binance will offer these services in a pooled and professional manner investors can get on board with few clicks and hassle free which would be great.

[vanya.pronin.1983]

This is a very attracting offer and as far as I know they are offering very good interest rates. But my question is why would they just give out money for free, especially something insane like 15 percent in BTC for a month.

[boltz]

This is actually a good news for those who prefer to hold their coins into Binance as they now can start staking instead of simply holding the coins there but after I have read the staking returns are actually lower than if you would have staked for yourself ? at least it seems so. This might be only the first initiative of them as only 8 projects have this support now and for sure more and more will come but the coin must be listed on BNB before to enable this feature. Would be nice to see a masternode feature on BNB, I would definitely use it if they list low ranked masternodes.

[tsaroz]

Staking is a good way to earn while you hold. The complexity and large amount required to hold for staking specific coins are keeping people away or not staking their stakable coins. Binance's staking pool would enable many users to get passive income for their holdings.

This is a very attracting offer and as far as I know they are offering very good interest rates. But my question is why would they just give out money for free, especially something insane like 15 percent in BTC for a month.

They are not providing 15% BTC for a month. Their lending platform currently provides 3% a year on BTC holdings. Staking is a different thing from lending.

[target]

Different opinions in the thread is here. On the other side its an opportunity for those who likes the lend and earn but its still really not a good idea for me to keep my coins by just staking it. Since you are just simply sending your coins to an exchange, better yet just trade with USD while its in dangered being in the exchange.

[sabine80]

This is quite concerning for me.
The exchange that was the biggest and hottest thing when it came to exchange is now trying to diversify its income source by launching lending programs, and now this, a staking platform. But why? Or more precisely, why now? Is the cryptowinter affecting Binance as well? Is this a forewarning of tougher times to come?

i think binance is just trying to maximize their profits. it is always good when a company has different sources of income. in addition, they must also make up for the losses from the hacks of the past few months.
that is why i think the current development is not bad and is not a bad sign for me.

[bbc.reporter]

This is actually a good news for those who prefer to hold their coins into Binance as they now can start staking instead of simply holding the coins there but after I have read the staking returns are actually lower than if you would have staked for yourself ? at least it seems so. This might be only the first initiative of them as only 8 projects have this support now and for sure more and more will come but the coin must be listed on BNB before to enable this feature. Would be nice to see a masternode feature on BNB, I would definitely use it if they list low ranked masternodes.

However, would it be good for the project if Binance is staking more than 50% of the total percentage? I reckon that would be something similar to a 51% attack on bitcoin.

Also, would this not give Binance too much power on voting in masternode coins?

[Strongkored]

This is actually a good news for those who prefer to hold their coins into Binance as they now can start staking

Yes this is a good news for holder of 8 coin that Binance have mentioned that users can staking via Binance.

instead of simply holding the coins there but after I have read the staking returns are actually lower than if you would have staked for yourself ? at least it seems so.

I don't know about this, but I think yes the rewards lower if we staking self because Binance will take profit about this staking project.
Coinbase added this staking rewards to on their service, and another exchange will followed this service. I don't know this service will terminate ICO and IEO, because in my opinion more safe staking coin compare to buy ICO or IEO which hasn't been proven to be trusted.

[ivaf]

Well, this is a good solution for me. Especially if  Ethereum 2.0 will be supported by Binance. I don’t have the financial ability to have as many coins as needed for a stake. Therefore, such a platform is a very good way of staking for me.

[plast555]

Staking is a good way to earn while you hold. The complexity and large amount required to hold for staking specific coins are keeping people away or not staking their stakable coins. Binance's staking pool would enable many users to get passive income for their holdings.

This is a very attracting offer and as far as I know they are offering very good interest rates. But my question is why would they just give out money for free, especially something insane like 15 percent in BTC for a month.

They are not providing 15% BTC for a month. Their lending platform currently provides 3% a year on BTC holdings. Staking is a different thing from lending.

Exactly. I think all we have to do is buy the coins and keep it in our wallet. The QTUM project that interests me the most. I have been following the project for a long time. It's listed on including Binance, Huobi and Kraken.
I think CZ has chosen a few coins for the start and I think that the number of coins that can be staking in the future will increase.

[bbc.reporter]

Well, this is a good solution for me. Especially if  Ethereum 2.0 will be supported by Binance. I don’t have the financial ability to have as many coins as needed for a stake. Therefore, such a platform is a very good way of staking for me.

That is not advisable. Binance has history of theft of their users' coins under their custody by hackers. It would be safer to hold eveything you do not trade in your wallet and join a staking pool.

Also, for decentralization, Binance staking might not be good for Ethereum 2.0 itself.

[Tipstar]

Binance is performing good but they are devising more and more methods to make people deposit and hold their crypto in their platform. This dependency on binance could lead to catastrophe in case of failure from binance. There could be any reason but putting all your money in a single place is risky.

[strickland]

Nice to hear this. I trust this exchange. If they offer such facility, I would like to go for it. Hope they dont change as soon as they receive lots of ETH and go away.

I don't like it. THey just want money from people that use that exchange. BNB is a scam coin.