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What is Beacon ETH?

Beacon ETH (BETH) is a cryptocurrency that operates on the BNB Smart Chain (BEP20) platform. It is the tokenized version of staked Ethereum (ETH) on Binance, allowing users to easily participate in staking on the Ethereum 2.0 network, also known as the Beacon Chain.

How is Beacon ETH used?

Beacon ETH (BETH) is a tokenized version of staked Ether (ETH) on Binance. It allows users to participate in Ethereum 2.0 staking without the technical requirements and limitations of the Beacon Chain deposit contract. Here are some ways BETH is used:

  1. Staking Rewards: By holding BETH, users are entitled to staking rewards earned by Binance’s ETH 2.0 staking node.

  2. Flexibility: BETH provides the flexibility to withdraw ETH at any time, unlike the Beacon Chain deposit contract, which only allows one-way deposits.

  3. DeFi Apps: BETH can be used in various DeFi applications on the BNB Smart Chain (BSC), such as yield aggregators like Beefy and Autofarm, and borrow-lending protocols like Venus.

  1. Liquidity Pools: Users can provide liquidity to the BETH/ETH pair on PancakeSwap and earn CAKE, or use BETH in Binance Liquid Swap to earn rewards.

  2. Trading: BETH can be traded on Binance and other platforms, allowing users to buy and sell it like any other cryptocurrency.

  3. Staking and Yield Aggregation: BETH can be used in staking pools and yield aggregators, making it easier to earn passive income without the technical requirements of staking ETH directly.

Overall, BETH offers a convenient and flexible way to participate in Ethereum 2.0 staking and utilize staked ETH in various DeFi applications.

How do I store Beacon ETH?

To store Beacon ETH (BETH) tokens, you can use a reliable crypto wallet that supports the Binance Smart Chain. Here are the steps:

  1. Download a Trust Wallet: You can download the Trust Wallet via Google Chrome or the iOS App Store. Ensure you download the official Chrome extension and mobile app from Trust Wallet's website.

  2. Set up Your Trust Wallet: Register and set up the crypto wallet via the wallet’s Google Chrome extension or via the mobile app. Refer to the wallet’s support page for reference. Keep your seed phrase safe and note your wallet address.

  3. Buy BNB as Your Base Currency: Set up your wallet and buy BNB as your base currency. You can do this by logging into your Binance account and proceeding to the Binance Crypto webpage to buy the BNB.

  1. Send BNB to Your Crypto Wallet: Once you buy your BNB, go to your Binance wallet section and withdraw the BNB to your Trust Wallet. Set the network to BNB Chain and provide your wallet address.

  2. Connect to a Decentralized Exchange (DEX): Connect your Trust Wallet to a DEX like Pancake Swap. You can refer to Coinmarketcap.com's Markets section to find the list of centralized exchanges where BETH is listed.

  3. Trade Your BNB for BETH: On the DEX, select your BNB as the payment and select the Beacon ETH as the coin you want to acquire. If BETH doesn’t appear, find its smart contract address on Bscscan.com and copy-paste it into the DEX.

  1. Store Your BETH: Once you have acquired BETH, you can store it in your Trust Wallet. Ensure you keep your wallet secure and backed up to avoid any losses.

Additionally, if you want to store BETH on a Ledger wallet, you can use the BEP20 token on the Binance Smart Chain. You need to add the Binance Smart Chain network to MetaMask and transfer the BETH to your Ledger’s Ethereum address.

How to buy Beacon ETH?

To buy Beacon ETH (BETH) tokens, follow these steps:

  1. Choose an Exchange:

    • Centralized Exchanges (CEX): Register on a reliable CEX like Coinmerce, Binance, or MEXC. Verify your identity and secure your account with two-step verification.
    • Decentralized Exchanges (DEX): Select a DEX like Uniswap, SushiSwap, or PancakeSwap, depending on the blockchain it runs on (e.g., Ethereum or Binance Smart Chain).
  2. Fund Your Account:

    • CEX: Use fiat to buy USDT, ETH, or BNB, depending on the exchange and the trading pairs available. You can use services like OTC trading or financial platforms like PayPal or Robinhood.
    • DEX: Purchase the mainnet cryptocurrency (e.g., ETH or BNB) using fiat, then transfer it to your DEX wallet.
  3. Buy Beacon ETH (BETH):

  • CEX: Transfer your USDT, ETH, or BNB to the CEX that supports Beacon ETH trading. Then, buy Beacon ETH using these tokens in the spot market.
  • DEX: Connect your wallet to the DEX, select the mainnet cryptocurrency as the payment, and Beacon ETH as the coin you want to acquire. If Beacon ETH doesn't appear, find its smart contract address and paste it into the DEX.
  1. Store or Trade:
    • Store: Hold your Beacon ETH in your exchange wallet or transfer it to a cold wallet for long-term storage.
    • Trade: Trade Beacon ETH for other cryptocurrencies on the exchange or use it for staking to earn rewards.

Remember to consult local tax regulations and be cautious of market risks and price volatility.

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