Binance just launched ETH 2.0 staking and we will explain how to stake at Binance. Binance is one of the top Bitcoin trading sites.
ETH 2.0 is the next generation of Ethereum and uses proof-of-stake(PoS) instead of earlier proof-of-work(PoW).
PoS can generate income to stakers. However, the minimum amount to stake is 32 ETH or almost $20.000. Binance has lower the treshold for its users by creating Binance staking which only requires 0.0001 ETH.
You’ll have the opportunity to participate in ETH 2.0 staking and receive BETH at a ratio of 1 ETH = 1 BETH.
In addition, your ETH 2.0 staking rewards will be distributed daily in the form of BETH.
Summary of Binance ETH 2.0 Staking
- Reward period begins: 2020/12/02 0:00 AM (UTC)
- Minimum stake amount: 0.0001 ETH
- Staking APY: 5%-20%, based on actual on-chain staking income
- Reward calculation: During the ETH 2.0 staking period, BETH rewards will be distributed daily based on user BETH holdings.
- In the future, if BETH is made available for trading, users will be able to trade between ETH and BETH freely. (Note: The trading price is determined by the market, and the spread caused by the transaction shall be borne by users).
Why you should stake ETH 2.0 with Binance
There are many reasons why you should stake ETH 2.0 with Binance staking.
Here are some:
- Binance will cover all validator operating expenses for users
- Binance will bear the risk of on-chain penalties
- Binance will distribute on-chain staking rewards to users
How to stake ETH 2.0 with Binance
To be able to stake on Binance, you need an account with Binance and an ETH balance.
- Sign up with Binance and deposit Ethereum.
Get -20% on all fees from Binance with our referral ID.
When you have created an account and deposited Ethereum to Binance you can stake ETH 2.0 by following these steps.
Logín to your Binance account
Go to Binance ETH 2.0 staking page. As you can see in the screenshot below, click on the yellow button “Stake now”.
Now, you will be asked what amount you want to stake into Binance ETH 2.0 staking, as you can see in the screenshot below.
Make sure to read the notes that your funds will be locked for a certain time that can be over 2 years.
If you choose to proceed you will get a second confirmation window, as you can see in the screenshot below.
Read all the agreements carefully and check the boxes.
After this, you can click on the final confirmation.
Congratulations, you have now staked into ETH 2.0 and you contribute to the security of the network.
ETH 2.0 Price Predictions
There are many price predictions and analysis for Ethereum 2.0.
Ethereum 2.0 is a huge upgrade for the network and it comes in several steps. Two of the main purposes are to upgrade the scalability and lower the network fees.
Many believe the price will skyrocket if this implementation gives more value to the Ethereum network.
Read more about Eth 2.0 price predictions and analysis to build your own opinion.