Binance is officially expanding its staking efforts with a new, dedicated staking platform.
According to the announcement, users will receive monthly distributions for holding the following altcoins: NEO (NEO/GAS), Ontology (ONT/ONG), VeChain (VEN/VTHO), Stellar (XLM), Komodo (KMD), Algorand (ALGO), Qtum (QTUM) and Stratis (STRAT).
With the launch of the new staking service, Binance is taking on established staking platforms like Staked, which has raised millions in venture capital funding, and other exchanges like Coinbase, which offers baking support for Tezos on its Custody platform and will likely add further altcoins moving forward.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.