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BFCeXchange.co - The better way to staking USDT

Staking USDT (Tether) can be a way to earn passive income in the cryptocurrency market. Here's a general outline of the process to stake USDT at many platform including BFCeXchange:

1. Choose a Staking Platform:

   - Start by selecting a reputable staking platform or cryptocurrency exchange that supports USDT staking. Ensure the platform you choose offers secure and transparent staking services.

2. Create an Account:

   - Sign up and create an account on the chosen platform if you don't already have one. Complete the necessary identity verification procedures if required.

3. Deposit USDT:

   - Deposit USDT into your exchange or staking platform wallet. Make sure you use the correct deposit address provided by the platform.

4. Select Staking Option:

   - Navigate to the staking or savings section of the platform. Choose USDT as the asset you want to stake.

5. Choose Staking Period:

   - Decide on the staking period. Some platforms offer flexible staking, allowing you to withdraw your funds at any time, while others have fixed staking periods.

6. Initiate Staking:

   - Enter the amount of USDT you want to stake and confirm your staking options, including the duration and terms.

7. Stake USDT:

   - After confirming the staking terms, proceed with staking your USDT. The platform will lock your funds for the chosen duration.

8. Earn Staking Rewards:

   - Once your USDT is staked, you'll start earning staking rewards. These rewards may be paid out daily, weekly, or at the end of your staking period, depending on the platform.

9. Monitor Your Staking:

    - Keep track of your staking performance and rewards through the platform's dashboard. Some platforms allow you to reinvest your earnings automatically.

10. Withdraw Staked Funds:

    - At the end of the staking period or during flexible staking, you can withdraw your staked USDT and any accrued rewards to your exchange wallet.

Remember that staking USDT involves certain risks, such as the security and reputation of the staking platform and the potential for fluctuations in USDT's value. It's essential to choose a reliable platform and conduct thorough research before staking your assets.

Please note that the specific steps and options for staking USDT may vary depending on the platform you choose, so always refer to the platform's guidelines and user interface for precise instructions. Suggested platform is BFCeXchange.

Binance US Have De-Listed Coin/Token

Binance's U.S. affiliate has announced the removal of more than 100 advanced trading pairs and the temporary suspension of its OTC trading portal. This decision comes in response to legal pressure from the SEC, which sought to freeze Binance's assets earlier this week.

Although Binance US did not provide specific reasons for the sudden removal of trading pairs, it assured users that their assets remain secure on the platform. The changes will take effect at 12 pm EDT on June 8, while deposits and withdrawals will continue to be processed as usual.

As a result of this action, the platform will now support 226 "convert" trading pairs. Users can still engage in buying, selling, and converting top cryptocurrencies like BTC, ETH, USDT, USDC, DOGE, and others.

At this time, there is no indication that Binance US plans to reintroduce the removed trading pairs. While the OTC desk is currently paused, the company intends to notify users when it becomes available again in the upcoming weeks and months.

On Tuesday, the Securities and Exchange Commission issued a restraining order against Binance US, leading to the freezing of its assets. This action followed the SEC's 136-page lawsuit against the exchange and its international parent company.

In compliance with the restraining order, Binance US is required to return customers' fiat currency and digital assets held on the platform within 10 days. This includes assets related to its staking-as-a-service program, which the SEC targeted on the same day as Coinbase's equivalent program.

Second Bank Closure Due To Uncertainty

The United States (US) authorities shut down New York-based financial institution Signature Bank yesterday, CNBC news channel reported.

Signature Bank which is a major lender in the cryptocurrency sector, is closed to prevent the banking failure from spreading further.

"We also announced similar systemic preventive measures for Signature Bank in New York which was closed today (yesterday) by state banking authorities," the Treasury, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) said in a joint statement.

The move came two days after the largest bank in Silicon Valley, SVB closed.

Banking authorities said all Signature Bank depositors will have full access to their savings. Similar assurances were given to depositors of the collapsed SVB bank that they would get their money back.

"All depositors in this institution will be paid. As with the settlement with SVB, no losses will be incurred using taxpayers' money," the authorities said.

Authorities closed SVB last Friday and took over its deposits in the biggest banking failure in the US since the 2008 financial crisis and the second largest in history.

The dramatic move comes days after Signature Bank reported difficulties, sparking panic withdrawals by depositors.

Signature Bank is one of the leading banks in the cryptocurrency industry and the largest besides Silvergate which announced its bankruptcy last week. Silvergate has a market value of US$4.4 billion (RM19.7 billion) as of last Friday after selling 40 percent of its assets this year.

As of December 31, Signature Bank had total assets of US$110.4 billion (RM495.1 billion) and total deposits of US$88.6 billion (RM397.7 billion), according to securities filings.

In order to limit the damage and contain a larger crisis, the Treasury and the Federal Reserve established an emergency program to support Signature Bank and SVB deposits through the Federal Reserve's emergency powers.

FDIC deposit insurance funds will be used to pay depositors, many of whom do not take out additional insurance following the government's guarantee that they will pay depositors up to US$250,000 (RM1.1 million) per account.

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BFCeXchange.co - The better way to staking USDT

Staking USDT (Tether) can be a way to earn passive income in the cryptocurrency market. Here's a general outline of the process to stake...