PoS Crypto Rewards Launching on Binance US in February

• Binance US will offer staking rewards for simply holding Algorand (ALGO) and Cosmos (ATOM) starting in February

Binance US has announced that starting sometime in February users will be able to earn staking rewards for simply holding the cryptocurrencies Algorand (ALGO) and Cosmos (ATOM).

Essentially, these are proof of stake (PoS) cryptocurrencies, meaning that anyone who holds these cryptocurrencies and runs a full node will earn additional crypto via the staking process. Theoretically, anyone can earn money via staking without the help of Binance or any other crypto exchange, but it can be a large amount of work to launch a PoS full node and to keep it running.

Therefore, being able to earn staking rewards simply by holding crypto on an exchange is far easier than trying to run a PoS full node. In-fact, the ease of earning staking rewards on an exchange like Binance makes it one of the best forms of passive crypto income.

Binance US is not the only exchange offering staking rewards to United States residents, Coinbase also offers about 5% staking rewards for the popular PoS cryptocurrency Tezos (XTZ).

Overall, it is beneficial that United States residents now have another exchange where they can earn staking rewards, and it is plausible that Binance US’s staking rewards launch in February will help increase PoS crypto adoption in the United States.

 

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