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Flexible Staking FAQ
Binance
2020-07-31 06:25

What is Flexible Staking?

Flexible Staking is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. For more on staking, please refer to Binance Academy.

 

How can I Participate in Binance Flexible Staking?

Deposit supported coins into your Binance.com account today and start earning - it’s that simple!

 

Which coins do we currently support?

Binance current supports Flexible staking for many cryptocurrencies, including the following: NEO (NEO/GAS), Ontology (ONT/ONG), Vechain (VEN/VTHO), Stellar (XLM), Komodo (KMD), Algorand (ALGO), Qtum (QTUM), & Stratis (STRAT).

 

Will Binance be charging any fees?

Binance will not charge any fees for Flexible staking. Our philosophy is simple - we want users to earn the most they can get - and all rewards we receive will be shared to our users. However, we cannot ensure or guarantee any rewards, but we will try to optimize such that users get an optimal amount of rewards.

 

Can I trade while Flexible staking?

Yes, you will always be able to trade any coins you have. However, once a trade is filled, the amount of staked balance will change, and the corresponding rewards that you will earn from daily snapshots will change accordingly. You can trade to accumulate supported Flexible staking coins, as well as sell them at any time.

 

How can I stop Flexible staking? Is there a lock-up period?

Users accrue Flexible staking rewards from simply holding coins on Binance. Simply sell or withdraw any supported coin at any time to stop receiving Flexible staking rewards on Binance. Currently, there are no lock-up periods as of this time for the current supported coins, to reduce the friction for user participation in Flexible staking. Instead, there is a 24-hour “wait” period before balances are accounted for during our daily snapshots, to deter manipulation of balances within seconds of snapshot times.


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