Cryptocurrency news

Finance launches Steaks New Service for Ethereum 2.0

Finance launches Steaks New Service for Ethereum 2.0

On December 1, the first phase of Ethereum 2.0 called Beacon Chain started, and today, on December 2, the Binance cryptocurrency exchange launches a service for staking coins in ETH2.

Users will be able to block their ETH coins for staking and receive rewards for participating in transaction confirmation. At the same time, they will be issued BETH tokens in the proportion of 1:1 with the volume of blocked coins.

Rewards for staking will also be issued in BETH tokens. The BETH to ETH exchange will be available after the launch of the next phase of Ethereum 2.0. Full-fledged trading in the ETH/BETH pair will also be launched.

At the same time, if the user needs to block at least 32 ETH for direct participation in the Ethereum 2.0 staking, then when staking through the Binance service, you can block from 0.0001 ETH.

The annual return for participation in the staking will be from 5% to 20%. Users who pass the verification procedure will receive a double reward for staking in the period from December 2 to December 16, 2020:

“Verified users will receive an additional reward in BNB coins at the BNB/ETH exchange rate, equal to the BETH reward for staking. This will double the reward in the specified period.”

The first phase of Ethereum 2.0-the “signal chain” (Beacon Chain) – was launched on December 1 at 15:00 Moscow time. Previously on Bits.Media released a large-scale material explaining the principles and nuances of staking in Ethereum 2.0.