Ethereum Staking in US by DNP-Binance

One of the biggest cryptocurrency exchange platforms Binance is introducing Ethereum (ETH) staking in the US ahead of the Ethereum “Merge”.

6% annual percentage yield (APY) will be started to its US customers for as low as 0.001 ETH($.151) staked by Binance, the exchange announced Wednesday.

Staking involves customers locking up their digital assets to promote the running of Proof-of-Stake (PoS) networks.

The switchover from a proof-of-work (PoW) network to a proof-of-stake (PoS) network known as “The Merge” is scheduled to occur between September 13 and 15. It is hoped that by moving away from the energy-intensive PoW process, Ethereum would become more effective and scalable and gain wider acceptance.

In addition to a number of other blockchains, Binance now offers staking for U.S. users on the Cardano (ADA), Polkadot (DOT), and Polygon (MATIC) networks. At the time, Brian Shroder, CEO of Binance.US, stated that the goal was to surpass the staking APYs provided by competitors like Coinbase and Gemini.

It’s time to expand support for Binance Ethereum. The US sees ETH as a major battleground in the coming months.

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