Binance Adds Tezos Staking Support for Its Users

The world’s second-largest cryptocurrency exchange (a title earned as a result of its daily trade volume), Binance recently announced that they will be further improving their services by adding support for Tezos staking.

Date: 
December 08, 2019
Read time: 
2 minutes

Binance Adds Tezos Staking Support for Its Users

Author: Dylan B
Date: 
December 08, 2019
Read time: 
2 minutes

The world’s second-largest cryptocurrency exchange (a title earned as a result of its daily trade volume), Binance recently announced that they will be further improving their services by adding support for Tezos staking.

The world’s second-largest cryptocurrency exchange (a title earned as a result of its daily trade volume), Binance recently announced that they will be further improving their services by adding support for Tezos staking.

The announcement of support for Tezos staking comes as part of a wave of recent additions on the Binance exchange, which has been adding several trading pairs for foreign fiat and major cryptocurrencies.

Tezos (XTZ), which is a relatively new project similar in structure to Ethereum, was greenlit for holding, trading, and staking on the Binance platform on December 4th, becoming a part of the hundreds of assets currently supported on the platform. As long as users hold one XTZ, they are able to receive monthly rewards as a part of their participation in the network. At the time of writing, Tezos is priced at $1.30 and the platform announced that there will be no fee for those who stake on their platform.

This development doesn’t come as a surprise as the CEO of Binance, Changpeng Zhao, had teased Tezos staking in September of this year when it had listed trading support for pairs with Bitcoin, Binance Coin, and Tether. This now allows the platform to compete against similar exchanges like Coinbase, who had already allowed for Tezos staking in November.

The announcement of support for Tezos staking comes as part of a wave of recent additions on the Binance exchange, which has been adding several trading pairs for foreign fiat and major cryptocurrencies. On December 2nd, Binance announced support for the Russian Ruble and trading with Bitcoin, the Binance Coin, Ripple, and Ether. Only a month ago, they added support for the Turkish Lira and added fiat support by Paxos. 

Get More Knowledge: The Best Crypto Tools You Should Use

Additionally, they partnered with TravelByBit that allows travelers to pay for flights via cryptocurrency through the use of a rewards card. Overall, it appears as those Binance is seeking explosive growth through the end of 2019 and into 2020 and show no signs of stopping.

Additionally, they partnered with TravelByBit that allows travelers to pay for flights via cryptocurrency through the use of a rewards card. Overall, it appears as those Binance is seeking explosive growth through the end of 2019 and into 2020 and show no signs of stopping.

Posted by Dylan B

Dylan Buckley is a writer based in California. He became interested in cryptocurrency upon discovering it in 2014 and soon started investing as well as writing for a wide variety of clients and crypto-startups in the space. When he is not producing content for individuals and businesses, he is typically working on his own self-development content or making music.

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