Binance.US, Binance's subsidiary in the US, will add Tezos staking this week.
According to the official announcement made yesterday, the trading platform will begin to distribute rewards to its users for staking XTZ starting on Thursday at 09:00 EST.
Staking basically consists of storing a particular cryptos on a platform to receive rewards.
According to the announcement, Binance.US users will not have to take any action to start enjoying this service, so those who hold XTZ will start receiving their rewards automatically.
Just like with the rest of the cryptos for which Binance.US offers this service, the exchange will make a snapshot of the users' XTZ balances every hour in order to calculate the rewards. Even though the rewards will be calculated on a daily basis, the payment will be made monthly before the 20 of every month.
Binance, Binance.US' parent company, began offering this same service in December 2019, while Binance.US added support for Tezos last month.
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