Stay up to date with the CriptoTendencia WhatsApp channel: Instant news about Bitcoin, Altcoins, DeFi, NFT, Blockchain and Metaverse. Subscribe!
Bitcoin staking available to everyone: Binance and Babylon make it easy for you with the introduction of On-chain Yields. Allowing users to participate in various onchain protocols and earn rewards directly through their accounts.
In fact, the launch of Bitcoin Babylon staking responds to the growing demand from users for more profitable and transparent investment solutions in the crypto ecosystem. By offering Bitcoin holders the ability to generate returns through staking, Binance positions itself at the forefront of DeFi innovation and meets the needs of an increasingly sophisticated community.
Now, the initial offering is Babylon BTC Staking, where users can stake their BTC and earn onchain rewards derived from the Babylon Protocol. The subscription period will open at 06:00 UTC on December 9, with a limited quota of 1,000 BTC available on a first-come, first-served basis. Each account can be subscribed for a minimum of 0.05 BTC and a maximum of 5 BTC.
Binance and Babylon: A new standard in Bitcoin staking with onchain returns
This new feature allows users to participate in onchain protocols through Binance and earn rewards in tokens, points, and other ways. By the way, the key benefits are:
- Rewards. Users earn rewards directly from onchain protocols like Babylon, in the form of tokens or points.
- Easy to use. Binance handles the integration and operations, reducing the technical burden for users.
- Flexible redemption. Funds can be redeemed at any time with shorter redemption times compared to staking directly on-chain.
Potential risks
Onchain returns are a high-risk product with rewards that depend on the specific protocol and are not guaranteed. Each protocol may carry various risks, including but not limited to:
- Vulnerabilities of Smart Contracts. Onchain protocols may have technical vulnerabilities and users assume the risks associated with the functionality of Smart Contracts.
- Market volatility. Performances of onchain protocols may fluctuate depending on market conditions. Which could lead to a devaluation of assets.
- Protocol failure. Operational or technical issues within onchain protocols can result in asset losses.
How can you participate in Babylon BTC staking?
For website users:
- Click “Earn” in the top navigation bar of Binance.
- Go to “High Performance” > “Onchain Performances”.
- Select “Babylon BTC Staking”. Enter your participation amount and confirm your subscription.
For app users:
- Click “More” on the app home page.
- Go to “Earnings” > “Onchain Returns”.
- Select “Babylon BTC Staking” and confirm the subscription.
In closing, before participating in On-chain Yields, Binance recommends users thoroughly research the selected protocols. It is essential to understand the risks inherent in any Cryptocurrency investment, including the possibility of asset losses. Binance is not responsible for losses resulting from technical or other problems related to onchain protocols.
I say goodbye with this phrase from Steve Jobs: “Innovation distinguishes a leader from a follower.”
Related
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
