The iost coin was first handled by Coincheck in Japan in September 2020.
Since then, the price of this virtual currency has risen, and Asakura Mikuru’s tweet “I made millions” became a hot topic.
Although the price has calmed down now, it is still one of the virtual currencies that is attracting attention for its potential.
Binance, an overseas exchange that handles iostcoin, has started a staking service.
I would to talk about this staking service in detail.
What is a staking service?
A staking service is a service that allows you to earn interest simply by holding virtual currency.
In other words, iost staking means that you can earn iost coins just by holding iost coins.
It is similar to holding stocks and receiving dividends from them.
The yield in staking is said to be roughly a few percent per year.
How to do iost staking on Binance
Binance, one of the world’s largest virtual currency exchanges, started staking iost coins in January 2021.
Iost coin staking is very popular and tends to sell out, so if you are interested, check the site regularly.
Also, since Binance is an overseas exchange, you cannot purchase iostcoins directly with Japanese yen.
So first, prepare iost at Coincheck.
Coincheck is the only domestic exchange that currently handles iost, so you cannot purchase iost on other exchanges.
If you don’t have an account with Coincheck, you should create one at this time.
Once you have purchased iost coins at Coincheck, you will need to transfer the iost to Binance.
The general procedure for transferring money is as follows
1.Log in to Binance. (Register with Binance)
2.Check the address for iost deposit.
3. Log in to Coincheck.
4. Deposit iost coins to the address you confirmed in 2.
This completes the transfer.
Next, go to the Binance menu and set up your stakes.
When you go to the iost staking settings screen, select
2.Number of stakes
However, if you have reached the maximum number of applications, the message “sold out” will be displayed.
In this case, you will not be able to start staking until the application is accepted.
By the way, the yield of iost staking is said to be a few percent, and according to the website below, you can get a yield of about 2.3% in 15 days.
This was an introduction to the staking service, and how to place iost coin stakes.
If you are interested, please get ready to make an account.
Please also refer to this article on Binance, which also handles IOST coins.