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Binance Launches SOL Staking for Institutions
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This new feature allows institutions to stake their SOL safely while earning rewards, all through an off-exchange settlement process.
In other words, they can keep their SOL secure with Binance’s partner, Ceffu Global, and still enjoy the benefits of staking.
Safe and Simple SOL Staking for Institutional Investors
With this new feature, it’s like putting your money in a safe place while still being able to use it. Once their SOL is secure with Ceffu, they can “mirror” it to their Binance account, which means they can stake SOL without having to move it around or take risks. When they stake their SOL on Binance, they’ll earn BNSOL rewards – a nice little bonus for keeping their assets staked.
This new method is a win-win. Institutions get to keep their SOL safely stored, like having their cake and eating it too. At the same time, they can take advantage of staking rewards without worrying about the security of their assets. This is a big deal because staking rewards can help institutions grow their crypto holdings while keeping everything secure.
Another secure way for institutions to stake $SOL!
With off-exchange settlement, #Binance institutional users can secure their $SOL with our custodian partner @CeffuGlobal and mirror them to their Binance account to stake and earn BNSOL rewards.
https://t.co/hqt6ExbMYt pic.twitter.com/1LMg7xM7Iv
— Binance VIP & Institutional (@BinanceVIP) September 18, 2024
The off-exchange settlement process means SOL stays safe off the exchange, with the custodian partner Ceffu Global. So, it’s like having a secure vault for your SOL but still being able to earn rewards as if it were on the Binance exchange. For institutions, this adds an extra layer of safety and confidence.
More About Binance
Binance has launched Futures Grids, giving users more control than ever. With this feature, you can set Take Profit (TP) and Stop Loss (SL) based on Profit and Loss (PNL) or Return on Investment (ROI). You can also customize your grid by setting upper and lower price limits and deciding how many grids to use.
Enhance your grid trading strategies with our latest update!
You can now set TP/SL by PNL and ROI on the Futures Grid. More options mean more control!
Learn more
https://t.co/DLgipK4TtX pic.twitter.com/N8qH3pesm6
— Binance (@binance) September 18, 2024
Once set, the system takes care of the rest, automatically buying or selling orders at the prices you choose. It’s like setting it and forgetting it, letting you manage your trades with ease.
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 risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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September 18, 2024 at 10:12AM
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