What is Beacon ETH? Beacon ETH (BETH) is a cryptocurrency project that allows to receive a share of ETH staking rewards on the Binance exchange. In this article, you can access answers to frequently asked questions such as what is Beacon, what it offers, what is BETH, how to get it, what it is used for. As Kriptokoin.com, we have prepared it for you. Let’s examine the project together.
What is Beacon ETH?
Founded in December 2020, Beacon ETH is a cryptocurrency project that allows users to stake Ethereum on Binance Chain. The project aims to create a cryptocurrency that works in harmony with ETH 2.0 on the Binance network and has been adopted by the decentralized finance (DeFi) community. The native cryptocurrency of the project is BETH coin.
Beacon ETH provides users with a tokenized version of Ethereum, allowing them to perform various DeFi transactions. Users can earn income through ETH staking. This is done with the ETH 2.0 staking node on Binance Chain. Users who lock their BETH assets to these nodes can enjoy ETH staking rewards and earn passive income.
What is BETH coin? What is it used for?
BETH coin, a tokenized version of Ethereum, is the native cryptocurrency of the Beacon Chain network. Initially created with an ERC-20 smart contract on the Ethereum Blockchain, Beacon ETH was later rebuilt with a BEP-20 smart contract on Binance Chain. BETH coin is used to protect the Ethereum network and perform various DeFi transactions. Each BETH represents one ETH on Binance Chain. The token can be used in all transactions carried out within the network. Users can earn token rewards by locking BETH to the ETH 2.0 staking node on the Binance network.
Besides, BETH can also be used in Binance Launchpool projects. BETH holders can lock their assets to Launchpool and acquire newly released tokens. Users participating in ETH/BETH liquidity pools also have the opportunity to earn additional token rewards. Finally, BETH coin can be used for lending and receiving. Lenders can earn income on interest. Besides, it is also possible to have the best automatic return opportunity by investing BETH on platforms like Autofarm.
How to get BETH coin?
Currently, BETH coin is listed by crypto exchanges such as Binance, Huobi Global, OKX, and CoinTiger. Investors interested in Beacon ETH can become a member of one of these exchanges. Users who are fully registered members and deposit funds into their wallets can purchase BETH.
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