Binance launches Ethereum 2.0 staking service

The cryptocurrency exchange Binance announced the launch of Ethereum 2.0 staking. The service will be available from December 2.

#Binance Launches #ETH 2.0 Staking Service with Double Rewards Activity!

➡️ https://t.co/4DSedbSQuH pic.twitter.com/746RfuGwVq

— Binance (@binance) December 1, 2020

Participants in staking will receive BETH tokens, with 1 ETH = 1 BETH. Rewards will be distributed daily.

The minimum threshold for staking is 0.0001 ETH. The annual yield range is 5-20%.

“BETH will allow users to receive ETH at a 1:1 ratio when Phase 1 ETH 2.0 is launched,” the company said.

In the future, BETH will be available for trading in a pair with ETH.

The assets staked will be locked for around two years. Binance has pledged to cover validators’ operating costs for users and the risk of penalties.

Verified users will receive additional rewards in the exchange’s BNB token. The amounts will correspond to the amount earned from staking BETH at the BNB/ETH rate.

Launch of Ethereum 2.0 Phase 0: what will happen and what users can expect

Earlier, Coinbase stated that it would support ETH2 via staking and trading. The ability to swap the old version of tokens for the new one will appear in early 2021, but ETH2 coins will be locked until Phase 1.5.

Earlier on December 1, the launch of Ethereum 2.0 Phase 0 of the second version occurred.

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