Binance.US Extends Its Support to Algorand (ALGO) Staking

.US has declared its planning to launch staking rewards. And, Cosmos (ATOM) and Algrorand (ALGO) will emerge as the first tokens to remain available for the purpose of staking for US-based businessmen.

Exchanges have brought down the bar for entry for those seeking to take part in the token governance by providing staking services. It is worth mentioning that a USD on-ramp to staking is going to permit a large number of people to reap the rewards for contributing to the network by endorsing network security, bringing down validation expenditure, and streamlining the mechanisms.

Interestingly, several other US exchanges that may include Kraken and Coinbase have also made staking available till now for only Tezos is also known as XTZ.

As a larger number of “proof-of-stake” tokens begin to list on several popular exchanges, exchanges will get motivated to keep adding staking services.

According to Catherine Coley, CEO of Binance.US, the main goal of Binance.US is to produce chances for a large number of people to participate in the digital asset marketplace and especially assist both the crypto-curious and professionals to reap the benefit of becoming a crypto holder.

Catherine Coley said,

Staking is just one of the many attractive ways we are bringing new people into the digital asset marketplace. We consider this another step towards achieving our goal of financial inclusion for an ever-growing pool of people.

Staking can be defined as when users hold funds in a cryptocurrency wallet for supporting the functioning of a blockchain network. When they indulge in these activities, they get a reward in that coin of choice, which in this scenario will be Algorand (ALGO) and COSMOS (ATOM). Maximum crypto users (at least 70 percent) have shifted their focus on holding onto their assets instead of trading them so that staking offers a suitable solution for holders to reap the rewards for backing the operations of a blockchain network.

Binance.US has emerged as the renowned marketplace that offers swift access and trading across the vast types of digital assets.

Recent Articles

Significance of Poker Concepts to Make the Most of Your Trading and Investment Decisions

Poker fundamentals popularly known as poker concepts have emerged to be highly indispensable and beneficial strategies in poker. They also help in...

2020: Crypto Regulations Updates Everyone Should Know!

The year 2020 is likely to be one of the most eventful ones from the ‘crypto angle,’ i.e., from the perspective of cryptocurrencies as...

Plus500 Review 2020 – What you need to Know before Signing up with this Broker

Overview Plus500 was established in the year 2008 and it offers online CFD...

eToro Broker Review 2020 – All You Need to Know About eToro Before Signing Up!

  Overview eToro was established in the year 2007, known as one of the leading social trading platforms. Offering more than 1,000...

Cryptocurrencies, an Alternative to Fiat Currencies Not Yet a Replacement

Cryptocurrency and blockchain technology have already created ripples in the world of finance and technology and revolutionized the way currency has been traditionally viewed. It...

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox