If you love passive income, here’s something for you to consider. Binance has now launched its staking service. Announced today, you can use the staking platform to earn tokens.

Tokens supported: NEO, ONT, VET, XLM, KMD, ALGO, QTUM and STRAT.

What’s New?

Binance Staking platform is similar to other staking platforms out there except one change: you don’t have to move your tokens anywhere. Meaning, if you have held any of the above tokens on the Binance exchange, you can begin the staking process immediately.

It is a fee-less process, and you will get rewarded for holding your favorite tokens 24 hours after pledging your tokens.

Currently, Algorand token offers you the highest annual returns:

The staking platform comes as a value-added service for all the Binance users. If anything, as the Binance ecosystem expands, we will witness several new tokens added to the platform.

To get started with staking, head over to this link and browse through the list of tokens while looking at the annual returns. Pick your token, click the Deposit Now button to begin the staking process.

It is also important to note that you don’t have to lock your tokens permanently. You can unlock them anytime but you won’t be receiving the daily interest. Plus, there is a 24-hour wait period before you can get your tokens.