There are many and varied ways to earn from cryptocurrencies. Among storage, lending, and others, each has its own advantages and disadvantages.
But in this article, I will explain a new service from Binance that allows you to earn from your coins with minimal effort and risk.
In this article, we will talk about the Soft Staking service.

What is Staking?

Staking in the cryptocurrency market means allocating your coins to validators who process transactions on proof-of-stake networks like Ethereum, Solana, and BNB Chain.
By allocating your coins to these validators, you receive a portion of the transaction processing rewards, often in the form of variable annual returns.

All proof-of-stake network coins operate under the same mechanism, and you can participate either directly via the blockchain or through staking on trading platforms.

But one of the downsides of staking is that you lose possession of the coins during the staking period until you request to withdraw them. Additionally, the withdrawal process may take several days, and sometimes weeks.
Therefore, this may be a barrier for users who wish to earn on their coins held in wallets or trading platform accounts, but without being tied to a staking period.

That is why Binance launched the Soft Staking service.

What is the Soft Staking service?

This is a new service launched by the Binance platform, allowing users to earn profit from the currencies in their Spot balance without the need to lock, stake, or restrict them in any way.

Just by activating the service, you will be able to earn from merely holding the currency, with the lowest level of risk.
This service is an innovative and exclusive solution at Binance, as it opens the door for high liquidity holders to earn without restricting their liquidity, which is crucial for many.

What cryptocurrencies are available in Soft Staking?

Since the Soft Staking service is still new on the Binance platform, support is currently available for a limited number of currencies.
There is also a minimum and maximum for participation in each currency.

Here is a list of the currently available currencies:

  • $BNB

    • Minimum: 0.5 BNB

    • Maximum: 500 BNB

  • $SOL

    • Minimum: 1 SOL

    • Maximum: 5000 SOL

  • ADA

    • Minimum: 150 ADA

    • Maximum: 300,000 ADA

  • POL

    • Minimum: 500 POL

    • Maximum: 300,000 POL

  • $SUI

    • Minimum: 100 SUI

    • Maximum: 10,000 SUI

  • S

    • Minimum: 200 S

    • Maximum: 100,000 S

  • NEAR

    • Minimum: 100 NEAR

    • Maximum: 20,000 NEAR

  • TON

    • Minimum: 100 TON

    • Maximum: 10,000 TON

  • ALGO

    • Minimum: 1000 ALGO

    • Maximum: 200,000 ALGO

  • AXS

    • Minimum: 100 AXS

    • Maximum: 20,000 AXS