Nice to hear this. I trust this exchange. If they offer such facility, I would like to go for it. Hope they dont change as soon as they receive lots of ETH and go away.
I don't like it. THey just want money from people that use that exchange. BNB is a scam coin. 
Topic: [news] Binance Launches Staking Platform with Support for 8 Cryptocurrencies (Read 236 times)
October 05, 2019, 10:54:48 PM
October 05, 2019, 09:32:43 PM
Binance is performing good but they are devising more and more methods to make people deposit and hold their crypto in their platform. This dependency on binance could lead to catastrophe in case of failure from binance. There could be any reason but putting all your money in a single place is risky.
October 05, 2019, 07:51:56 PM
Well, this is a good solution for me. Especially if Ethereum 2.0 will be supported by Binance. I don’t have the financial ability to have as many coins as needed for a stake. Therefore, such a platform is a very good way of staking for me.
That is not advisable. Binance has history of theft of their users' coins under their custody by hackers. It would be safer to hold eveything you do not trade in your wallet and join a staking pool.
Also, for decentralization, Binance staking might not be good for Ethereum 2.0 itself.
October 01, 2019, 11:40:07 AM
Staking is a good way to earn while you hold. The complexity and large amount required to hold for staking specific coins are keeping people away or not staking their stakable coins. Binance's staking pool would enable many users to get passive income for their holdings.
They are not providing 15% BTC for a month. Their lending platform currently provides 3% a year on BTC holdings. Staking is a different thing from lending.
This is a very attracting offer and as far as I know they are offering very good interest rates. But my question is why would they just give out money for free, especially something insane like 15 percent in BTC for a month.
They are not providing 15% BTC for a month. Their lending platform currently provides 3% a year on BTC holdings. Staking is a different thing from lending.
Exactly. I think all we have to do is buy the coins and keep it in our wallet. The QTUM project that interests me the most. I have been following the project for a long time. It's listed on including Binance, Huobi and Kraken.
I think CZ has chosen a few coins for the start and I think that the number of coins that can be staking in the future will increase.
October 01, 2019, 02:13:19 AM
Well, this is a good solution for me. Especially if Ethereum 2.0 will be supported by Binance. I don’t have the financial ability to have as many coins as needed for a stake. Therefore, such a platform is a very good way of staking for me.
September 30, 2019, 11:50:59 PM
This is actually a good news for those who prefer to hold their coins into Binance as they now can start staking
Yes this is a good news for holder of 8 coin that Binance have mentioned that users can staking via Binance.instead of simply holding the coins there but after I have read the staking returns are actually lower than if you would have staked for yourself ? at least it seems so.
I don't know about this, but I think yes the rewards lower if we staking self because Binance will take profit about this staking project.Coinbase added this staking rewards to on their service, and another exchange will followed this service. I don't know this service will terminate ICO and IEO, because in my opinion more safe staking coin compare to buy ICO or IEO which hasn't been proven to be trusted.
September 30, 2019, 08:27:23 PM
This is actually a good news for those who prefer to hold their coins into Binance as they now can start staking instead of simply holding the coins there but after I have read the staking returns are actually lower than if you would have staked for yourself ? at least it seems so. This might be only the first initiative of them as only 8 projects have this support now and for sure more and more will come but the coin must be listed on BNB before to enable this feature. Would be nice to see a masternode feature on BNB, I would definitely use it if they list low ranked masternodes.
However, would it be good for the project if Binance is staking more than 50% of the total percentage? I reckon that would be something similar to a 51% attack on bitcoin.
Also, would this not give Binance too much power on voting in masternode coins?
September 30, 2019, 04:08:57 PM
This is quite concerning for me.
The exchange that was the biggest and hottest thing when it came to exchange is now trying to diversify its income source by launching lending programs, and now this, a staking platform. But why? Or more precisely, why now? Is the cryptowinter affecting Binance as well? Is this a forewarning of tougher times to come?
i think binance is just trying to maximize their profits. it is always good when a company has different sources of income. in addition, they must also make up for the losses from the hacks of the past few months.The exchange that was the biggest and hottest thing when it came to exchange is now trying to diversify its income source by launching lending programs, and now this, a staking platform. But why? Or more precisely, why now? Is the cryptowinter affecting Binance as well? Is this a forewarning of tougher times to come?
that is why i think the current development is not bad and is not a bad sign for me.
September 30, 2019, 11:44:24 AM
Different opinions in the thread is here. On the other side its an opportunity for those who likes the lend and earn but its still really not a good idea for me to keep my coins by just staking it. Since you are just simply sending your coins to an exchange, better yet just trade with USD while its in dangered being in the exchange.
September 30, 2019, 10:06:39 AM
Staking is a good way to earn while you hold. The complexity and large amount required to hold for staking specific coins are keeping people away or not staking their stakable coins. Binance's staking pool would enable many users to get passive income for their holdings.
They are not providing 15% BTC for a month. Their lending platform currently provides 3% a year on BTC holdings. Staking is a different thing from lending.
This is a very attracting offer and as far as I know they are offering very good interest rates. But my question is why would they just give out money for free, especially something insane like 15 percent in BTC for a month.
They are not providing 15% BTC for a month. Their lending platform currently provides 3% a year on BTC holdings. Staking is a different thing from lending.
September 30, 2019, 10:00:52 AM
This is actually a good news for those who prefer to hold their coins into Binance as they now can start staking instead of simply holding the coins there but after I have read the staking returns are actually lower than if you would have staked for yourself ? at least it seems so. This might be only the first initiative of them as only 8 projects have this support now and for sure more and more will come but the coin must be listed on BNB before to enable this feature. Would be nice to see a masternode feature on BNB, I would definitely use it if they list low ranked masternodes.
September 30, 2019, 09:55:02 AM
This is a very attracting offer and as far as I know they are offering very good interest rates. But my question is why would they just give out money for free, especially something insane like 15 percent in BTC for a month.
September 29, 2019, 02:49:05 PM
Nice step from binance as it will help the newbie investor as he will be able to bypass the headache of setting up nodes and vpn just to stake a coin and also buying certain amount of coins before staking was a big hurdle, now when binance will offer these services in a pooled and professional manner investors can get on board with few clicks and hassle free which would be great.
September 29, 2019, 01:45:10 PM
Nice to hear this. I trust this exchange. If they offer such facility, I would like to go for it. Hope they dont change as soon as they receive lots of ETH and go away.
September 29, 2019, 01:19:40 PM
Coming up with this initiative might be good, however, I will support the standpoint of the OP. Under normal circumstances, keeping fund on exchange these days is not exchange these days is not encouraging, most especially with an exchange that was once a victim of hack.
If CZ can guarantee holders that their funds will be safe and not only that,but also,if any form of hack occurs, there will be a refund, then it worth trying and going for.
If CZ can guarantee holders that their funds will be safe and not only that,but also,if any form of hack occurs, there will be a refund, then it worth trying and going for.
September 29, 2019, 01:01:54 PM
I once don’t like staking that much because I feel that it is just a very big trap by most projects to just keep the investor and tie him down after he must have staked his coin within a short period of time which anything could happen before the contract time expires.
I learnt that staking actually gives profit because I have never done it before, but now that binance has created a staking platform, and I am sure that they will run it the same way that they are running their IEO platform by ensuring that any project that they have registered for staking is one that will give the client the assurance that the project is no dyeing any time soon and they will always fulfill their interest obligation to the said investors at the particular time of promise. I think I will like to try binance staking out.
I learnt that staking actually gives profit because I have never done it before, but now that binance has created a staking platform, and I am sure that they will run it the same way that they are running their IEO platform by ensuring that any project that they have registered for staking is one that will give the client the assurance that the project is no dyeing any time soon and they will always fulfill their interest obligation to the said investors at the particular time of promise. I think I will like to try binance staking out.
September 28, 2019, 08:49:55 PM
This is a big leap and a win-win situation for both holders and Binance, three years ago when I was very active in accumulating a lot of Staking coins there was a site I can't remember the name, where you deposit your coins for the site to stakes, most of the coins deposited there are Bitcoin derivatives.
I'm sure with Ethereum turning to stake algo many will find this platform interesting it will allow them to make a profit, and with Binance behind it it will gain approval.
I'm sure with Ethereum turning to stake algo many will find this platform interesting it will allow them to make a profit, and with Binance behind it it will gain approval.
September 28, 2019, 08:39:55 PM
It is such a dangerous idea.
I wonder which exchanges the staking will take place, Binance decentralized or centralized exchange? I guess this is a more convenient way to stake cryptocurrencies, but not advisable. Many people may end up using the service. People want convenience.
I wonder which exchanges the staking will take place, Binance decentralized or centralized exchange? I guess this is a more convenient way to stake cryptocurrencies, but not advisable. Many people may end up using the service. People want convenience.
I do not understand where the danger is because with the staking there are benefits to be gained by the exchanger or the binance customer. It is clear that Binance is a centralized exchanger and with staking, Binance can further develop its lending platform and customers benefit from coins that are stake
September 28, 2019, 07:14:45 PM
It would benefit those who rarely make trades, but hold the said tokens in the exchange.
At first, I think it's unlikely for those who use their own wallet in holding and staking their coins to send it to Binance for just the sake of staking. But thinking that they will not do anything after transferring the funds, it's really an advantage.
For example Komodo (KMD), to receive a reward you need to hold a minimum of 10 Komodo and make at least one transaction per month using the wallets. If I'll hold it in Binance, I'll get a reward whether or not I make a transaction monthly (correct me if I'm wrong).
The only problem really is the security, it's an exchange after all and you don't have a control over the private keys. It's up to the individual if he wants to take the risk.
At first, I think it's unlikely for those who use their own wallet in holding and staking their coins to send it to Binance for just the sake of staking. But thinking that they will not do anything after transferring the funds, it's really an advantage.
For example Komodo (KMD), to receive a reward you need to hold a minimum of 10 Komodo and make at least one transaction per month using the wallets. If I'll hold it in Binance, I'll get a reward whether or not I make a transaction monthly (correct me if I'm wrong).
The only problem really is the security, it's an exchange after all and you don't have a control over the private keys. It's up to the individual if he wants to take the risk.
September 28, 2019, 03:43:52 PM
This is a great good strategy, CZ has been ahead of the game from day one. I enjoyed staking benefits from NEO and VET. I've earned a lot of GAS and VTHO and I'm grateful for that, even though price ain't too good right now. Talking about Binance targeting ETH staking later in future, it's a superb plan IMO. Someone mentioned that all these is to boost BNB price increase, well development updates are very essential no matter how you see it.
September 28, 2019, 03:35:02 PM
This is quite concerning for me.
The exchange that was the biggest and hottest thing when it came to exchange is now trying to diversify its income source by launching lending programs, and now this, a staking platform. But why? Or more precisely, why now? Is the cryptowinter affecting Binance as well? Is this a forewarning of tougher times to come?
That could be a possibility but I doubt it, it seems to me that they are really trying to just diversify the source of their income because they know that no matter what they do they cannot be the biggest exchange forever, however I really think that depositing your coins in an exchange and keep them there is a terrible idea, we know how susceptible are exchanges of being hacked or scamming their customers, but I do not doubt that there will be many people that will accept those conditions in order to earn some dollars, I just hope that they do not regret it. The exchange that was the biggest and hottest thing when it came to exchange is now trying to diversify its income source by launching lending programs, and now this, a staking platform. But why? Or more precisely, why now? Is the cryptowinter affecting Binance as well? Is this a forewarning of tougher times to come?
September 28, 2019, 02:24:46 PM
What's going on with these exchangers nowadays? I'm smelling something harmful coming soon.
I remember seeing Kucoin having something like this feature called coldstaking, it's not really a coldstaking because they are showing a disclamer and insisting that there's a high chance to be in danger/to lose the coins. Now, binance is doing the same?
I don't feel safe, remember if 1M btc gets stored in the same exchange to get stakes, what might happens? have you started to think? A HACK/A SCAM!
Sorry for the caps lock but it's necessary to yell, never trust any third party wallet or exchange to store your savings.
I remember seeing Kucoin having something like this feature called coldstaking, it's not really a coldstaking because they are showing a disclamer and insisting that there's a high chance to be in danger/to lose the coins. Now, binance is doing the same?
I don't feel safe, remember if 1M btc gets stored in the same exchange to get stakes, what might happens? have you started to think? A HACK/A SCAM!
Sorry for the caps lock but it's necessary to yell, never trust any third party wallet or exchange to store your savings.
September 28, 2019, 02:23:56 PM
I think that's good news. Even all exchanges need to integrate such staking operations into their own exchanges. There are wallets that do this, for example, COBO wallet. Although staking rewards are not too much for cryptocurrencies counted, I think it is an important step for adaptation.
September 28, 2019, 02:19:40 PM
It is such a dangerous idea.
I wonder which exchanges the staking will take place, Binance decentralized or centralized exchange? I guess this is a more convenient way to stake cryptocurrencies, but not advisable. Many people may end up using the service. People want convenience.
I wonder which exchanges the staking will take place, Binance decentralized or centralized exchange? I guess this is a more convenient way to stake cryptocurrencies, but not advisable. Many people may end up using the service. People want convenience.
September 28, 2019, 10:14:18 AM
Why they call it staking instead of lending which is what this is? This model consists of users lending their coins to the exchange for they to stake them and give them the reward, but I guess the exchange will take a part of that reward for themselves. Would not be better that holders staked the coins themselves?
September 28, 2019, 06:23:49 AM
If Ethereum ends up fulfilling the POS upgrade as planned i'm sure binance exchange will add ETH to the list as well, the rewards will vary too since you can stake on ETH platform aswell hopefully this will make ETH receive more demanding adoption rate
September 28, 2019, 06:21:36 AM
This is quite concerning for me.
The exchange that was the biggest and hottest thing when it came to exchange is now trying to diversify its income source by launching lending programs, and now this, a staking platform. But why? Or more precisely, why now? Is the cryptowinter affecting Binance as well? Is this a forewarning of tougher times to come?
The exchange that was the biggest and hottest thing when it came to exchange is now trying to diversify its income source by launching lending programs, and now this, a staking platform. But why? Or more precisely, why now? Is the cryptowinter affecting Binance as well? Is this a forewarning of tougher times to come?
September 28, 2019, 06:10:55 AM
Staking coins have disadvantages as well, the most popular one is price instabilities and while your staking is ongoing the project token might see a big price dump, i trust binance exchange and i can trust them with my funds as well so its won't be a problem
September 28, 2019, 06:01:56 AM
Binance, the world’s leading cryptocurrency exchange, announced the launch of its staking platform allowing its users to earn their staking rewards simply by depositing their funds on the exchange.
depositing and holding you fund on exchange to get stake isn't bad things, but the big problem is about the price, stabilizing the price is really problem here. it will dump whenever the stake holder selling their coin
depositing and holding you fund on exchange to get stake isn't bad things, but the big problem is about the price, stabilizing the price is really problem here. it will dump whenever the stake holder selling their coin
September 28, 2019, 03:58:50 AM
We all risk by investing in cryptocurrency despite its volatility, hoping for a profit.So why refuse a profit in this staking campaign? I personally participate in the staking of XLM, I am attracted by the opportunity to get bonuses for storing this young and promising coin.I trust the Binance's policy. Even when it was hacked, they compensated for the loss to customers.
September 28, 2019, 03:41:12 AM
CZ has always been looking into the future and planning ahead like a good CEO does, but I have never been a fan of keeping cryptocurrencies on exchanges. In my opinion is much much safer to keep them in a hardware wallet or even better a paper wallet where no one besides you have access. Keeping the crypto on an exchange exposes you to a series of risks that you have no control upon. Basically you have to trust a third party to take care of your crypto instead of yourself.
Are you willing to do that? - That is the question you need to ask yourself.
Are you willing to do that? - That is the question you need to ask yourself.
September 28, 2019, 03:35:16 AM
This is a program to keep the price of BNB high or stable. This is the strategy of CZ since he learned that the trend of IEO could not last long and continuously introduced preferential policies to increase the number of BNB holders. but he did not say he would keep the price of BNB high and now its value is only $ 15.
Seems like this is the biggest trap I've ever seen. Those who have trusted Binance now are regretting joining this Staking program.
Seems like this is the biggest trap I've ever seen. Those who have trusted Binance now are regretting joining this Staking program.
September 27, 2019, 10:14:43 PM
I have never love to stake altcoins because of instability of price, and sometimes the price can badly dump, and good traders win big. I once traded Tokenpay instead of staking, and I made in 3 days what I should have made in 2years or more. Later on, the price of Tpay went badly down because of market forces, I had taken profit. I am not against staking but it's good for the conservative investors who can wait for long.
September 27, 2019, 09:45:09 PM
I can smell a possibility of a new Binance pump game hehe. Changpeng Zhao might also be creating this platform in preparation for the most valuable proof of stake coin coming, Ethereum 2.0 if released.
However, encouraging holders to deposit their coins on Binance to stake is very dangerous for the holder and the cryptocoin itself. If there is a high percentage coins on the exchange and the exchange is hacked, the hackers might have influential advantage over the coin by staking with the stolen coins themselves.
Binance, the world’s leading cryptocurrency exchange, announced the launch of its staking platform allowing its users to earn their staking rewards simply by depositing their funds on the exchange.
Right from the start, the staking platform will support eight cryptocurrencies: NEO (NEO/GAS), Ontology (ONT/ONG), Vechain (VET/VTHO), Stellar (XLM), Komodo (KMD), Algorand (ALGO), Qtum (QTUM), & Stratis (STRAT).
Read in full https://beincrypto.com/binance-launches-staking-platform-with-support-for-8-cryptocurrencies/
However, encouraging holders to deposit their coins on Binance to stake is very dangerous for the holder and the cryptocoin itself. If there is a high percentage coins on the exchange and the exchange is hacked, the hackers might have influential advantage over the coin by staking with the stolen coins themselves.
Binance, the world’s leading cryptocurrency exchange, announced the launch of its staking platform allowing its users to earn their staking rewards simply by depositing their funds on the exchange.
Right from the start, the staking platform will support eight cryptocurrencies: NEO (NEO/GAS), Ontology (ONT/ONG), Vechain (VET/VTHO), Stellar (XLM), Komodo (KMD), Algorand (ALGO), Qtum (QTUM), & Stratis (STRAT).
Read in full https://beincrypto.com/binance-launches-staking-platform-with-support-for-8-cryptocurrencies/
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