Binance is now live with its BNB staking feature. Users can earn 8.49% to 27.49% APY when they lock up their BNB tokens on the platform.
Lock Up BNB Tokens, Earn Interest
The interest rate depends on how long users wish to lock up their BNB tokens.
The 30 days lock-up offers 8.49% APY and has a maximum limit of 5,000 BNB per user. The 60 days lock-up offers 12.49% APY and has a maximum limit of 500 BNB per user. The 90 days lock-up offers 16.49% APY and has a maximum limit of 100 BNB per user.
Interestingly, the highest APY of 27.49% is given out on the shortest duration of 15 days. However, users are limited to depositing only 5 BNB tokens in this offering.
All offerings have a minimum staking limit of 0.1 BNB. Users can redeem earlier but risk losing the interest they would have earned on their BNB tokens.
These offerings are on a first-come, first-serve basis. At the time of press, the 30-day offering was the only rate available.
Additionally, Binance has announced the launch of their 18th launchpool product. Users will be able to stake their BNB, BUSD, or CHR to earn ALICE tokens.
Binance Coin (BNB) was trading for $267.18, gaining 14.5% in the past 24 hours. At present, BNB is ranked #3 on CoinGecko.
Disclosure: The author didn’t hold crypto mentioned in this article at the time of press.