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Binance supports EOS staking, adds TRX/BNB trading pair, and allows BUSD & USDT purchase with Visa card

Image by Binance

Thu, 12 Mar 2020, 15:27 pm UTC

Binance has made a number of updates lately.

Crypto exchange Binance made several announcements regarding its services.

In a series of posts on Twitter, Binance announced its latest offerings which include a new trading pair, new support for EOS staking and BUSD & USDT purchase via Visa card.

Binance DEX adds new trading pair

Binance DEX has opened its doors for a new trading pair Tron (TRX) and Binance Coin (BNB). Binance users can now start a TRX/BNB trading pair.

BUSD & USDT Visa Card purchase on Instant Buy

Another great news from the crypto exchange is that Binance USD (BUSD) and Tether (USDT) are already available for instant purchase using Visa debit and credit cards. Users can buy a range of cryptocurrencies using fiat including Bitcoin (BTC), Ethereum (ETH), BNB and Ripple (XRP).

Binance provides the details on a separate page including the full list of countries it supported. It also provides a guide on how to purchase cryptocurrencies with debit and credit cards on mobile browsers.

Basically, to buy a cryptocurrency, one has to simply enter the amount of money to spend, select the preferred fiat currency for payment and select the desired cryptocurrency, and click the “Buy” button.

EOS Staking Airdrop Program

Binance has also added support for EOS (EOS) staking starting March 13. Binance will begin taking live snapshots of users’ EOS balances. Users must hold at least 0.25 EOS in order to qualify for staking rewards.

The initial distribution of EOS staking rewards will be calculated until April 30, with the total amount distributed equally to the staking rewards accrued during the periods. The EOS staking distribution will be calculated as follows:

  • EOS generated by each user = Total EOS staking rewards received by Binance * User EOS holdings ratio.

  • User EOS holdings ratio = Average user EOS holdings / Average total EOS staked by Binance.

The EOS rewards are calculated daily and distributed monthly before the 20th of each month.

Meanwhile, Binance U.S. has just launched staking rewards for Cosmos (ATOM). App users who hold COSMOS in their wallets don’t need to do anything to begin earning rewards.

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