Tangem Wallet has taken another step toward enhancing its ecosystem by introducing native staking support for Binance Coin (BNB). You can now actively participate in the Binance Smart Chain (BSC) network by staking your BNB directly through the Tangem app. This contributes to the network’s security and functionality and allows you to earn rewards on your holdings in a simple and streamlined process.
What is BNB Staking?
BNB staking involves locking your Binance Coin to support the operations of the Binance Smart Chain, such as validating transactions and securing the blockchain network. In return, participants earn staking rewards, distributed as compensation for their contribution.
This mechanism is fundamental to the Proof-of-Stake (PoS) consensus, the backbone of many modern blockchain networks, including Binance Smart Chain and Solana.
Benefits of Staking BNB in Tangem Wallet
- Direct integration: Staking is built into the Tangem Wallet, eliminating the need for third-party platforms.
- User-friendly interface: Tangem’s intuitive design makes staking easy, even for beginners.
- Passive income: Earn rewards by simply staking your BNB, allowing your assets to grow over time.
- Secure environment: Tangem’s cold storage technology ensures that your funds and private keys remain safe during the staking process. Our staking provider, StakeKit, also covers any slashing penalties your chosen validator might incur.
How to Stake BNB in Tangem Wallet
- Download the latest version of the Tangem Wallet app from the App Store or Google Play.
- Add Binance Coin (BNB) to Your Portfolio. If BNB is not already in your wallet, navigate to the Markets section, search for Binance Coin, and add it to your portfolio.
- Swap at least 1 BNB for other tokens in your wallet or generate an address to receive it from external sources.
- Tap Stake displayed on the token page.
- Review the staking details. Check key parameters such as the Annual Percentage Rate (APR) and the unbending period.
- Tap Stake and enter the amount you want to stake. You can't stake less than 1 BNB.
- Choose a validator from the available list. Validators are responsible for securing the network, and their performance can impact your staking rewards.
- Tap Continue after choosing a validator.
- Tap Stake to proceed with the transaction.
- Enter your access code/biometric ID and tap your Tangem Wallet to sign the transaction.
- Tap Close.
Track your rewards in the Tangem app
Once your BNB is staked, you can monitor your rewards directly in the app on the token page. Remember to choose validators with a good track record to maximize your staking rewards and minimize risks. Transaction fees on the Binance Smart Chain are minimal but should still be accounted for when staking or unstaking.
Why choose Tangem Wallet for BNB staking?
Tangem Wallet stands out with its security and simplicity. It provides a secure environment for staking, making it a trusted solution for newcomers and experienced crypto enthusiasts. By adding BNB staking, we continue our mission to provide users with a comprehensive, all-in-one crypto management tool.