Binance Staking lets users participate in staking in return for reward opportunities in a user-friendly environment through different products like ETH 2.0 Staking and Locked Staking. We strive to bring the best experience to users who choose to lock in their crypto assets on our platform, and we are always responsive to their feedback.
Many users have told us that they enjoy Locked Staking and would, in fact, love the option of staking their tokens for even longer than what’s offered currently. Due to the mechanism of Locked Staking, where assets are locked up on a blockchain for a fixed period of time, users have to remember to return to the platform and re-stake once the Locked Staking period expires. If users forget to re-stake, they can end up missing out on potential earning opportunities.
That’s why we’ve decided to introduce the Auto-Staking feature to improve the experience for our users.
What is Auto-Staking?
Auto-Staking is a new Binance Staking feature that helps you automate re-staking your assets. Having to remember to re-subscribe to our staking products while on a busy schedule can be a hassle that you want to avoid. If you’re the type to set and forget, chances are you’ll miss the expiration date of the product. And if you don’t re-subscribe, you can miss out on staking rewards. Even if you do remember to stake again on the expiration day, you’d still miss out on one day worth of rewards due to the interest calculation period of one day.
Auto-Staking can help you avoid the trouble of remembering the dates and manually re-subscribing, as well as ensure that you’re not missing out on staking opportunities available to you. And yes, you won’t be skipping the one day of potential staking rewards anymore with Auto-Staking.
Note that if the product has reached a subscription quota, Auto-Staking will not be enacted.
How to Activate Auto-Staking
Enable Auto-Staking when subscribing to a new product
On the Binance app, when you are subscribing to a new product, enable the Auto-Staking option before locking up your crypto.
Enable Auto-Staking on a subscribed product
On your Binance app, go to [Wallets] – [Earn].
Select [Locked Staking] – [Confirm], tap on the asset you want to enable Auto-Staking for, and toggle the switch to enable the Auto-Staking feature.
Select [Confirm] to start automating your staking process.
The Auto-Staking feature can also be disabled any time before the Interest End Date. For more details, see this detailed announcement on Auto-Staking.
Get the Most Out of Binance Staking!
Start exploring the new Binance Staking features today to boost your crypto game. Want to try staking? Check out the list of Locked Staking products for starters. Remember to do your own research (DYOR) before you start staking!
Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Locked Staking will return the staked digital assets to users’ spot wallets after the agreed period ends or upon early redemption. You have no right to a reward until it is received by Binance and Binance does not guarantee that you will receive any specific staking reward, or any staking return over time. Not financial advice. For more information, see our Terms of Use and Risk Warning.
Source: Binance
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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