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Binance Launches Soft Staking Feature for Spot Accounts

Binance has activated staking interest for users through spot accounts, allowing rewards for supported tokens to be directly deposited.

BNB
SOL
ADA

Summary

Binance has officially announced that users can now activate the staking interest feature through their spot accounts. Once activated, users holding the minimum required tokens will earn staking interest rewards, which will be deposited directly into their spot accounts. Supported tokens for this feature include BNB, SOL, ADA, SUI, TON, NEAR, POL, ALGO, S, and AXS. Users must upgrade to the Binance app version 3.1.0 or above to utilize this feature.

Terms & Concepts
  • Soft Staking: A feature allowing users to earn rewards on their crypto holdings without the need to lock up their assets.
  • Staking Rewards: Earnings received by users for participating in the proof-of-stake mechanism of a blockchain, typically distributed based on the amount staked.
  • Supported Tokens: Cryptocurrencies that can be used within specific features or services, in this case, BNB, SOL, ADA, and others for staking.