Binance Cryptocurrency Exchange Adds Support for Tezos Staking

Published at: Dec. 3, 2019

Binance — the second-largest crypto exchange by daily trade volume — has announced support for Tezos (XTZ) staking, according to an announcement published on Dec. 3.

Starting on Dec. 4, Binance’s users will be able to trade with XTZ, with XTZ rewards to be calculated daily based on live snapshots and distributed monthly. The distribution is set to end before Jan. 20, and after that on the 20th day of each following month.

Binance said that users must hold at least 1 XTZ in order to qualify for staking rewards. Tezos is currently trading at $1.30.

Binance’s CEO Changpeng Zhao had hinted at the possibility of staking in September, when the exchange initially listed the coin with three trading pairs against Bitcoin (BTC), Tether (USDT) and Binance Coin (BNB).

Other major exchanges have added Tezos staking rewards to their available offerings. Coinbase added the feature in early November before transitioning its custody arm, Coinbase Custody, to an internationally based staking service on Nov. 21. 

Staking, in general, refers to the practice of holding a cryptocurrency in a wallet to support a blockchain network’s operations. In addition to allowing holders to vote on blockchain operations, staking also generates periodic rewards for the holder staking their funds. 

Binance’s recent additions

Tezos staking rewards come on the heels of the listing of four Russian ruble trading pairs on Dec. 2. The first trading pairs featuring the ruble include Binance Coin (BNB), Bitcoin (BTC), Ether (ETH) and XRP.

In November, Binance launched support for the Turkish lira through its local digital wallet partner Papara and also became the first exchange to add the Fiat Gateway developed by stablecoin operator Paxos.

Apart from that, Binance partnered with crypto travel startup TravelByBit to launch a rewards card that facilitates cryptocurrency payments on major travel website. The card will function like a traditional prepaid card with access to additional discounts and rewards that users will be able to load with Bitcoin, Binance USD (BUSD), Binance Coin and Ontology (ONT).

Tags
Markets
Trading
Altcoin
Cryptocurrency Exchange
Cryptocurrencies
Binance
Tezos
Related Posts
Binance Renames Its USDT Market to Combined Stablecoin Market
Major cryptocurrency exchange Binance has renamed its Tether (USDT) Market to be a combined Stablecoin Market (USDⓈ), according to an announcement published Nov. 26. This will purportedly allow the exchange to support more trading pairs of stablecoins. The exchange also notes that USDⓈ is not a new stablecoin, but the symbol of Binance’s new stablecoin market. Binance will deliver a separate announcement about what exact pairs will be moved or added to this market. The move follows the Nov. 15 announcement that Binance would start listing blockchain payment company Circle’s USD-pegged stablecoin USD Coin (USDC). Prior to that, Binance added …
Markets / Nov. 27, 2018
3 reasons why Keep3rV1 (KP3R) price hit a new all-time high this month
Keep3rV1 (KP3R) was one of the few altcoins that emerged unscathed from this week’s bearish turn in the crypto market. While many digital assets plunged into the red following the lead of Bitcoin (BTC), which recoiled after recording a new all-time high last week, KP3R added 31.60% against the dollar and 44.17% against BTC between Nov. 12 and Nov. 19. Let's investigate what drove the splendid performance and what factors made the altcoin stand out in the face of the from the bleak dynamics of the wider market? Founder’s magic Much of the momentum underpinning KP3R’s explosive price movement throughout …
Markets / Nov. 19, 2021
Reactivated Ethereum pools trigger a 78% surge in THORChain price
Ealier this year THORChain underwent a series of protocol exploits which led to $8 million being drained from its reserves and these successive attack took a heavy tool on RUNE price. This week, the protocol announced that it would re-open its Ethereum pool, along with other altcoin and BTC-based pools and the announcement appears to be having a positive impact on RUNE price. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $2.95 on July 20, the price of RUNE has increased 283% to a$11.64 and there is also a noticable uptick in trading volume. …
Markets / Oct. 24, 2021
Here are 6 DEX tokens that have seen exponential growth in 2021
DeFi has steadily grown in prominence over the past year thanks in large part to the strong foundations established by decentralized exchanges (DEX) that enable easy access to the latest tokens and projects. While there have been previous iterations of DEX user interfaces, such as IDEX or Etherdelta, it wasn’t until Uniswap launched that trading in the DeFi network really took off and facilitated the launch of the finance tokens. Here are six of the top-performing tokens in the decentralized finance sector. UNI/USDT Uniswap has risen from the humble beginnings of a simple user interface that allowed for a token …
Markets / Feb. 27, 2021
CRO price hits new high after Crypto.com wins Los Angeles' Staples Center naming rights
Crypto.com's native cryptocurrency CRO hit an all-time high of $0.593 on Nov. 18 after the company won the naming rights to Los Angeles's Staples Center. The cryptocurrency trading platform announced Tuesday night that it had paid $700 million to the Anschutz Entertainment Group (AEG) to rename Staples Center to Crypto.com for the next twenty years. In doing so, it gained links with the downtown arena's native sports franchises, including NBA's Los Angeles Lakers, Clippers, and National Hockey League's Kings franchise. The deal should boost Crypto.com's public awareness, and this prompted traders to raise their bids for CRO, an intermediary settlement …
Markets / Nov. 18, 2021