How to Stacking Ethereum on Binance
Binance Ethereum stacking: Stacking is one of the ways of receiving profits from keeping cryptocurrencies that got so many advocators and fans in the last few years. Cryptocurrency stacking can be known for a full replacing way for mining. Also another of these important features of this way is that it costs less than mining. In this article in shetcoiner cryptocurrency website to teach you how to stacking ethereum on Binance.
Binance Ethereum Stacking features
One of the most important features of co-operating in Ethereum stacking is that it costs less than cryptocurrency mining. You can have a different percentage of annual profit of 5, 10 or 20 percent of profit.
Stacking Ethereum on Binance
- Login to your Binance account, in the Finance section, go to the Binance Earn option.
- Now on this page you can see all kinds of cryptocurrency stacking methods in Binance. Click on View more in “ETH 2.0 Staking” to enter the Ethereum Stacking page.
- Click on the “Stack Now” option.
- Now in the pop-up window that you see, enter the desired amount for the “Stack” and click on “Confirm”. Please pay attention to the fact that during the Ethereum “Stack” period, Binance will distribute prizes on a BETH basis based on network resources on a daily basis and you can receive.
- The second window will open for you now, in which you must check the terms and conditions again, and if you agree, click on their check box and click on the “Confirm” option.
According to the Binance support section (Quote):
The ETH redemption amount will be based on your current BETH holdings instead of your initial staked assets. For example, if you stake 100 ETH, you can get 100 BETH at a 1:1 ratio. And on the redemption date, if you hold 110 BETH through a transaction and on-chain rewards distribution, you can redeem 110 ETH. Binance will cover all validator operating expenses for users on ETH 2.0 staking service.
You won’t be able to “unstack” your ETH until Ethereum 2.0 mainnet goes live. The redemption amount will be based on your current BETH holdings instead of your initial staked assets.