Binance ETH Staking

If you want to become a validator on Ethereum, you are required to stake a minimum of 32 ETH. You will need to fulfill the minimum staking requirement, prepare the hardware equipment, and hold some additional assets to settle the node operation costs. You must also consider other risks, such as slashing and liquidity risks associated with unstaking queues.

To address this, Binance launched the ETH Staking service to offer a more accessible way for everyone to participate in Ethereum staking. This inclusive approach allows for a minimum stake starting from only 0.0001 ETH. Moreover, Binance handles all validator operations associated with ETH Staking and assumes on-chain penalty risks, providing users a secure and worry-free staking experience.

Note: Starting from 6 July 2023, Binance applies a 10% fee on ETH staking rewards. The fee is applied prior to the staking reward distribution. This fee will help to offset operating costs, such as hardware and network maintenance costs related to setting up validator nodes. The remaining on-chain staking rewards will be fully distributed to users.

1. Log in to your Binance account and click [Earn]. Search for ETH and click [Subscribe] next to [ETH Staking].

2. Click [Stake ETH].

3. Enter the amount you want to stake and you will see the WBETH amount you can get. Read and agree to the terms and click [Stake].

Note: The ETH to WBETH conversion ratio is not 1:1, as 1 WBETH represents 1 staked ETH plus the staking rewards accrued since 2023-04-27 08:00 (UTC). Due to the accumulation of staking rewards, the value of 1 WBETH progressively exceeds that of 1 ETH. The ratio is updated daily to reflect the rewards earned from the staked ETH of the previous day.

4. A second confirmation window will pop up. Read and confirm the terms and conditions by checking the boxes. Click [Confirm].

5. You have successfully staked your ETH. You can view your staked assets and reward details on the ETH Staking page.

Please note that the ETH redemption amount will be based on your current WBETH or BETH holdings instead of your initial staked assets. When you sell or transfer your WBETH or BETH to another user, the ownership of the staked ETH, including both accumulated rewards and future reward entitlements, is transferred to the new holder. Hence, with this action, the beneficiary of your ETH staking goes to the purchasing party. For more details about the Binance ETH Staking, please refer to the FAQ section on the ETH Staking page.

Holding WBETH enables you to accrue staking rewards, which subsequently increase the value of your WBETH. The appreciating value is reflected in a daily updated WBETH:ETH conversion ratio at 00:00 (UTC+0). However, please note that rewards are not directly distributed to your Spot Wallet. You can check your earned reward value in ETH through the ETH Staking page.

If you hold BETH, the staking rewards will be distributed in the form of BETH to your Spot Wallet daily from T+2 day. For example, if you choose to stake your ETH today (T - day), your BETH rewards will start accruing the next day (T+1 day), and the staking rewards of T - day amount will be distributed on the next day after accruing (T+2 day).

1. Go to [ETH Staking] and click [Redeem].

2. Enter the amount of ETH you would like to redeem from your BETH or WBETH balance, and click [Redeem].

Please note that the expected ETH distribution date is indicated on the page. You cannot cancel your ETH redemption requests after submission.

• Available Balance: The amount of BETH available in your Spot Wallet.
• Redeem Amount: The amount of BETH or WBETH to be redeemed into ETH.
• Distribute: The amount of ETH to be returned to you.
• Amount Limit:
  • Daily Personal Redeem Quota: The maximum amount of ETH a user can redeem daily.
  • Total Redemption Limit: The maximum amount of ETH that can be redeemed on the platform. The redemption pool replenishes throughout the day to maintain a fair distribution. The replenishment schedule and quota may vary to ensure a smooth user experience.
• WBETH:ETH Conversion Ratio: The ratio represents the current value of WBETH versus ETH. The ratio is fixed at the point of redemption. Rewards will stop accruing during the redemption period.
• ETH Distribution Date: The expected date and time of ETH being returned to your Spot Wallet.

3. The redeemed ETH will be returned to your Spot Wallet when your ETH redemption request is fully processed.

Note:

• Due to the processing limitations on the Ethereum network, Binance will set a daily ETH redemption quota for each Binance user.
• The daily ETH redemption quota and processing time are subject to change. Please check the redemption page for the estimated processing time. You can also check the delivery date and status for submitted redemption requests here.
• BETH under the redemption process will not generate any ETH Staking rewards.

BETH withdrawal outside of the Binance platform is not supported. If you would like to withdraw the staked ETH from Binance for other purposes or participate in DeFi applications while still entitled to the ETH Staking rewards, you may consider wrapping your BETH into WBETH.