Binance.US Adds Staking Rewards for Algorand (ALGO) and Cosmos (ATOM)
On January 29, 2020, Binance.US announced they will be adding support for staking Algorand (ALGO) and Cosmos (ATOM). Staking rewards will be offered starting February 2020.
What is Staking?
Staking is the process of holding funds in a wallet to support a blockchain network. During the staking process, holders of the cryptocurrency receive rewards for their participation.
According to the Binance.US announcement, you can receive rewards through the following process.
You will start receiving rewards in February if you already hold ALGO or ATOM on Binance.US.
At any time, you can purchase either of these assets to begin participating in the staking rewards system.
Algorand and Cosmos are available for spot market trading through the Shrimpy application for all Binance customers. Sign up today to begin automating your crypto portfolio!
Keep up to date with the latest Binance news with our Binance exchange page.