How to earn cryptocurrency with Binance Staking?

The most convenient way to earn cryptocurrency daily is by staking. Staking in simple words means holding POS cryptocurrency in your wallet that supports Proof of Stake for a period of time.

There are two main problems that stop any individual from starting a cryptocurrency staking business and they are:

  1. You need to be technically sound in order to start Staking. But, that can be learned through the numerous articles present on the internet.
  2. The other issue is the initial cost involved to buy the minimum amount of cryptocurrencies required to hold for staking in your wallet.

For example, to earn Dash staking rewards, you need to have a minimum of 1000 Dash coin in your wallet. At the moment 1 DASH = $51 approximately, the initial cost for staking Dash will be around $51000.

Benefits of Binance Staking:

To solve the above two issues, this year in the month of September Binance started Binance Staking. In my opinion, it is the cheapest and easiest way to start a passive income stream.

With Binance staking you do not need to be technically sound for setting up nodes or worry about the minimum staking amount or the time length at zero fees. All you need to do is to keep a bare minimum balance in your Binance account wallet.

Register on Binance for Free

How to Start Staking on Binance?

Let’s go through all the screens one by one so that you do not get confused while investing for the first time.

  • Login to Binance.

  • Click on the top menu Earn and then Click on Staking as shown in the image below.

Earn cryptocurrency B1

  • On the next screen, you will see the list of cryptocurrencies offering staking rewards as shown below.

Earn Cryptocurrency B2

  • You can choose anyone or multiple from the list.
  • You can directly deposit the cryptocurrency from your Binance Wallet or can purchase it using BNB, BTC, and USDT.
  • On the next screen, I will be buying some ALGO using BTC and then staking it.

earn cryptocurrency B3

  • After the purchase is complete hold your cryptocurrency till the end of the month.
  • In my case, ALGO will be paid into my ALGO wallet with Binance on the 20th of every month.

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Supported Cryptocurrencies:

Binance at the moment allows you to earn cryptocurrency staking rewards on 14 cryptocurrencies and they are:

Cryptocurrency

Annual Yield

Minimum Holding

Tezos Staking Rewards 6 – 7% 1 XTZ
ATOM Staking Rewards 6 – 9% 0.5 ATOM
TRON Staking Rewards 1 – 3% 5 TRX
Algorand Staking Rewards 12 – 14% 2 ALGO
Harmony Staking Rewards 8 – 10% 175 ONE
Fetch.ai Staking Rewards 8 – 12% 25 FET
Elrond Staking Rewards 3 – 4% 700 ERD
Stratis Staking Rewards 1 – 2% 2 STRAT
QTUM Staking Rewards 6 – 8% 1 QTUM
Komodo Staking Rewards 5 – 6% 1 KMD
Vechain Staking Rewards 3 – 5% 1 VET
Ontology Staking Rewards 3 – 5% 0.1 ONT
NEO Staking Rewards 1 – 3% 1 NEO
Stellar Inflation Rewards 2 – 4% 10 XLM

As per the above table, the three best cryptocurrencies to earn Staking rewards are Algorand, Harmony, and Fetch.ai. The present market value of as on today for Algorand is $0.31, for  Harmony(ONE) is $0.007 and for Fetch.ai is $0.06.

Now, if you check the minimum requirement for Algorand it is 2 ALGO which is $0.62, for Harmony, it is 175 ONE which is $1.22 and for Fetch.ai it is 25 FET which is $1.5.

The minimum amount required to start your staking business by using the above three cryptos is less than $5. Although I recommend you to invest a minimum amount of $100 to gain higher returns.

Wrapping Up:

Thank you for reading this article about Binance Staking Rewards. I hope the articles suit your requirements and help you to understand how you can also earn cryptocurrency every day and start your passive income stream.

If you want to know which cryptocurrency is good for staking and the actual initial amount required to purchase the above cryptocurrencies then click here.

As per my experience ALGO, XTZ, DCR, and ATOM are high rewarding cryptocurrencies. You can choose any one of the above listed for staking rewards every month.

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About The Author: Shounak

A content writer, content creator & community manager by profession. Shounak has been a Blockchain Enthusiast and Bitcoin Investor since 2015. He founded this blog to help newbie understand and realize the power of decentralized currency also known as cryptocurrency.