The BNB coin is one of the most successful exchange coins. The BNB coin lives on the BNB Chain. This is a proof-of-stake chain. As a result, you can stake BNB and earn a passive income.
It appears that there are many questions about staking BNB. Hence, in this article, we have a look at some common BNB staking questions.
#Binance Staking Launches #BNB Staking with Up to 27.49% APY
➡️ https://t.co/ay8ZTqHfyv pic.twitter.com/vdoP6ltTbo
— Binance (@binance) March 9, 2021
Can You Stake BNB on Binance US?
Yes, you can stake BNB on Binance US. You can stake up to 12 cryptocurrencies on Binance US. APYs currently range from 3.2% on GRT to 13.5% on ATOM (Cosmos). The current staking reward on BNB is a 4% APY. See the picture below.
Staking BNB on Binance US is not difficult to do. You go to the staking page and click the “Stake BNB” button. Now fill in the number of BNB you like to stake. Here’s an extensive blog from Binance US about staking BNB.
Source: Binance US
How Do You Stake BNB on Trust Wallet?
Staking BNB on Trust Wallet is easy. However, keep in mind that Trust Wallet is only available for mobile phones. There’s no desk top version available yet.
- Download the Trust Wallet on Android or iOS.
- You can buy BNB with a credit card in your new Trust Wallet. It’s also possible to deposit BNB into the wallet.
- Open the Finance dashboard.
- Enter how many BNB you like to stake and hit ‘Enter’.
- Click on ‘Send’. This confirms your transaction, and you started staking.
Source: Trust Wallet
How to Stake BNB on PancakeSwap
Currently, PancakeSwap has no direct staking for BNB in their Syrup pools. However, there are various farms in which you can add your BNB. You need to provide two tokens in a farm. Also be aware that you earn CAKE as a reward. Here you can see how to join a farm on PancakeSwap.
The promotion PancakeSwap had for staking BNB has finished.
Can You Stake BNB With Ledger?
You can add the BNB chain or BSC chain to Ledger. However, BNB is not among the tokens that you can stake directly on Ledger. Nonetheless, there is a way around this with your Binance wallet. It’s possible to import the Ledger hardware wallet address.
- You need a Ledger Nano X or S for this.
- Install Chrome or Firefox.
- Binance Wallet Extension v1.21.1 or later installed.
- You should already have initialized your Binance wallet extension with an account.
Now we can move on to the next steps.
- Connect your Ledger to a computer and unlock it.
- To use the BSC network, open the Ethereum application.
- If you like to use the BC network, unlock the Binance Chain app.
- Now you have to enable contract data for BEP-20 tokens. This is a one-time action. Your settings menu will show you settings menu is “Contract Data”. Select this by pushing down both buttons. Now you don’t have to do this again.
How to import the Binance Smart Chain address
Go to the BNB Chain staking page.
Open your Binance Chain extension wallet. Select “Binance Smart Chain” network. Go to settings, the arrow.
Now you select ‘Hardware Wallet’
Select an account and click ‘Connect’.
Grant access so both can connect
A box will pop up and click on Nano X (or if you connected an S, click on Nano S). The blue ‘Connect’ button will activate, and you can click it.
Select your HD path and select an account.
The yellow ‘Confirm’ button will activate, and you can click it.
You’re connected and can start staking your BNB.
Now you can sign any transactions on your Ledger.
Can You Stake BNB With MetaMask?
Get BNB on an exchange and send it to your MetaMask address. Use the BSC mainnet for this. Connect MetaMask to the Ankr Protocol.
- Go to the Ankr staking page and click on staking.
- Now hover over the BNB staking box and the ‘Stake’ button reveals itself. Click on it.
- Set the amount of BNB you want to stake.
- Choose if you want the aBNBb token (reward earning) or aBNBc token (reward bearing).
aBNBb — quantity grows daily. Redemption 1:1.
aBNBc — quantity is stable. Redemption grows. Current rate 1 aBNBc is 1.0275 BNB.
Click on which token you prefer and confirm the transaction in your MetaMask. - Now you receive your liquid token and can add it to your wallet.
You are staking BNB and can use the liquid token in other DeFi platforms.
BNB Price
According to CoinGecko, the current BNB price is $277.01. The market cap is $45 billion. There’s a max supply of 165,116,760 BNB tokens. There are already 163,276,974 BNB tokens in circulation.
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Binance. Copyright Altcoin Buzz Pte Ltd.
