Staking on Binance – Earn from cryptocurrencies held

For those who want to HODL, but also earn from cryptocurrencies, Binance offers new options.

The platform has expanded its services by introducing the staking option for QTUM, XLM, STRAT, KMD and ALGO tokens. It also announced the second phase of Binance Lending loan products, expanding its list of cryptocurrencies with BTC, ETH and ADA to BNB, ETC and USDT.

Staking on Binance

Binance has expanded its staking programs by adding 5 new tokens. These are QTUM, Stellar (XLM), Stratis (STRAT), Komodo (KMD) and Algorand (ALGO).

Until now, the service was available for NEO (GAS), Ontology (NGO), VeChain (VTHO) and Tron (BTT).

The Binance staking system assumes that users who keep these tokens for a month in their Binance accounts will be periodically rewarded for the number of cryptocurrencies they hold.

The second phase of the Binance Lending program

A week ago, Binance announced the loan schedule for BNB, USDT and ETC. The users were enthusiastic about the idea, and the registration lists were completed within minutes. For example, 502 participants contributed a total of 200,000 BNB in ​​just 16 seconds. The credit product of 10,000,000 USD was completed in 3 minutes 24 seconds with 306 participants.

Following this success, Binance announced the second phase of the program, extending the list of cryptocurrencies and the duration of the loan. Interested parties can lend themselves to borrowing Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Classic Ethereum (ETC) and Cardano (ADA). Loans are granted for a period of 14 or 28 days, with annual interest rates ranging from 3% for BTC to 10% for BNB.

Contest of futures platforms

Last month, Binance also announced that it will launch the option of trading futures contracts. The company has opted for a unique method of promotion – it will launch two test versions of the futures platform, and users will be able to vote on the preferred option. The winner of the two testnets will then be officially adopted as a Binance futures platform.

Test participants will receive rewards of up to 10,000 BNB (worth approximately $ 215,000) from Binance. The evaluation process will run from September 3 to September 8, 2019.