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Algorand and Cosmos join Binance.US as it is developing into an exchange on the stock exchange. Users can now earn interest on their account balance.
Set rewards for US merchants
In a newer blog entryBinance, the largest cryptocurrency exchange by trading volume, announced that their US partner will be offering stake bonuses starting next month. Binance.US enables Algorand (ALGO) and Cosmos (ATOM) to be staked on its platform and mobile application.
Catherine Coley, CEO of Binance.US, stated that by staking more “crypto holders” they can earn rewards while contributing to the network.
“I believe one of the key components in America’s journey to economic freedom is rewarding users for being part of a community better than traditional platforms in terms of the future of money and money management. Winning is just one of the many attractive ways we bring new people to the digital asset market. We see this as one more step towards our goal of financial inclusion for an ever-growing audience, ”said Coley.
Binance.US plans to add more Proof of Stake (PoS) cryptocurrencies for staking in the future, and the service will be expanded to all states where the platform operates.
Despite the importance of the announcement, Algorand and Cosmos took a nosedive after the news broke. These cryptocurrencies fell 0.89% and 1.20%, respectively.
ALGO / USD and ATOM / USD from TradingView
Binance.US is the latest cryptocurrency exchange to be used as a service landscape. In November 2019, Coinbase implemented Tezos relies on its retail platform for eligible US users. Almost a month later, octopuses announced This allows customers to participate in the Tezos network and “earn a fixed rate of 6%”.
It now remains to be seen whether investors are ready to keep their ALGO and ATOM tokens on Binance.US. While non-tech users can certainly benefit from avoiding the complexities behind using rewards, they need to be reminded of the saying, “Not your keys, not your coins.”
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