January 27, 2023

Binance adds Tezos zero-commission staking support

Binance adds Tezos zero-commission staking support

The largest cryptocurrency exchange, Binance, has added support for Tezos Token Staking (XTZ) starting December 4.

AT Binance official statement notes that notwill charge a fee for placing bets. There is no information yet whether the exchange service will remain free, since it takes a commission for staking other tokens. Coinbase and Gate.io charge 25% and 33% respectively for their services at XTZ rates. Perhaps zero commission is included in the strategy of attracting users.

XTZ rewards after placement will be based on a daily rating and will be distributed monthly. The announcement said that the first distribution of funds will be completed by December 19, 2019.

In addition, in the following months, the distribution of XTZ rewards will be completed by the 20th of each month.

XTZ user balance snapshots will be taken on December 4, at 00:00 (UTC).

In order to claim a reward for a bet, each user must have at least 1 XTZ.

Coinbase also previously made XTZ stating available to all U.S. users. Coinbase initially offered the XTZ betting service only to institutional clients.