Binance allows you to stake your AVAX coins directly, so you don’t have to transfer them to your Avalanche wallet. You can purchase as many AVAX tokens as you like on the exchange, as shown above. Click here to learn more about Binance
One of the benefits of placing your Binance stakes is that all funds are stored in one location . This makes it easy to monitor performance. Users who don’t wish to set up multiple DeFi portfolios can save time.
How to stake AVAX directly on Binance
Staking on Binance can bring you an annual percentage return of between 3% and 18% (APY), as of the writing. Click on [ Earn] to begin the staking process.
Click on Staking to be redirected on a new screen. Here you can see the list coins you can stake on this exchange.
Choose AVAX from the drop-down list and choose the duration: 21 to 91 days. Your funds will be frozen during this time. You can wager amounts less than 25 AVAX, as you are not directly delegating to the validator. Select the number of tokens that you wish to stake and click on Stake Now. Follow the next steps.
When you stake on Binance, the APY may also be adjusted based upon the amount of cash the exchange decides it wants to keep in its reserve. Click here to learn more about dynamic APYs.
APY: Annual percentage return on your staked AVAX
Different APYs are offered by each Proof-of-Stake Blockchain. This is dependent on the amount of native cryptocurrency and the blockchain time. Avalanche offers 9.41% rewards for its users through staking. You can expect rewards to accumulate in you wallet when you deposit your AVAX depending on the amount of this reward.
Keep in mind that the network becomes more resilient to attacks and your rewards are more sustainable as more validators and/or delegations join it. You are more likely than other DeFi protocols to receive consistent rewards for staking your AVAXs because these rewards are based upon network inflation (i.e. the number of validators on a network) and not any other factors.
Calculating AVAX Staking Reward
This calculator can be used to calculate your stake rewards based upon the amount you have deposit. It was created by Staking Rewards. You can also use it to calculate your staking rewards for other chains, such as Ethereum and Solana.
You can select the amount of AVAX/USD that you want to stake, the time period for which your funds will be held, and finally, decide whether to run a validator or become a delegator. The APY will vary depending on which decision you make.
The official website gives the exact number of validators. The network currently has approximately 264,000,000 AVAX tokens for staking.
