Crypto-exchange Binance launches new function for Binance Coin (BNB)

Thursday 11 March 2021 12:48 CET | News

Binance has announced a new function for the Binance Coin BNB that has helped the Binance Coin soar to new heights.

The Binance Coin (BNB) is seeing a daily plus of 15.17%. The growth of the Binance Smart Chain (BSC) was primarily responsible for the strong performance of the BNB, this time there is something different responsible for the growth.

Binance now offers users to stake BNB. Staking is an action where a consumer keeps his funds in a cryptocurrency wallet to partake in the maintenance of a blockchain-based proof-of-stake (PoS) system. BNB holders can now use their tokens to generate passive income. Users can deposit their BNB for 15, 30, 60, or 90 days. The conditions are based, among other things, on the length of the lock-up period and the amount deposited. Binance Coin's staking is limited, and the BNB staking option was sold out shortly after it was launched. 

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Keywords: expansion, cryptocurrency, blockchain, token
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United States
This article is part of category

Blockchain & Cryptocurrencies