Major cryptocurrency exchange Binance is set to roll out a zero fee Tezos (XTZ) staking starting December 4. Malta-based Binance announced on Tuesday, December 3, that it will be adding support for Tezos at zero charges staking. On the other hand, Coinbase and Gate.io exchange platforms charge 25% and 33%, respectively, for their XTZ staking services. Staking is a new mode of earning crypto rewards. Customers don’t do much – they simply hold crypto in a cryptocurrency wallet to support the operations of a blockchain network. In return, users get rewarded using crypto.
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According to the official announcement, the exchange will commence its support for the new program from Dec. 4, 2019. The firm will utilize live snapshots to calculate Tezos rewards everyday. It will then distribute the rewards every month. All distributions of rewards will be done by date 20 of each month.