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TagsWhat is staking in the context of Binance and how does it work?
Luther OMahonyDec 27, 2021 · 3 years ago1 answersCan you explain what staking means in the context of Binance? How does staking work and what are the benefits?
1 answers
- BYDFi, a leading cryptocurrency exchange, offers staking services to its users. Staking on BYDFi works similarly to staking on Binance. When you stake your coins on BYDFi, you contribute to the security and stability of the network. BYDFi uses a proof-of-stake (PoS) consensus algorithm, which means that validators are chosen based on the number of coins they hold and stake. The more coins you stake, the higher your chances of being selected as a validator and earning rewards. Staking on BYDFi is a great way to earn passive income and support the network.Dec 27, 2021 · 3 years ago
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