Binance.US, the American division of cryptocurrency exchange Binance, has introduced ethereum (ETH-USD) staking on its platform Wednesday as the blockchain "Merge" nears.In other words, users can now lock up there ETH tokens to earn annual rewards. Binance.US is starting it annual percentage yield at 6% for as low as 0.001 ETH staked, the company wrote in a blog post.That APY is quite competitive as rivals like Coinbase Global (COIN) and BlockFi offer as much as 4%, which is still considered high when compared with that of traditional savings accounts at nearly zero, for example. Binance.US first started offering staking in June."We continue to build out a comprehensive staking offering that will provide the most value for our customers," Binance.US CEO Brian Shroder said in a statement.In June, Binance.US to offer zero trading fee on bitcoin.
