Binance, a leading cryptocurrency exchange, has recently enabled the withdrawal function for ETH 2.0 staking, enabling its users who have had their staked tokens locked since the Shanghai upgrade earlier this month, to redeem their ETH with their BETH holdings on a 1:1 basis. This exciting development, coupled with the fact that redemption requests cannot be cancelled, means that users must be mindful when making their requests. Additionally, users should expect a wait time of 15 days to several weeks in order for their redemption requests to be approved in full.

When their request is fully processed, the redeemed ETH will be received in users' spot wallets, while the BETH tokens locked in the pending ETH withdrawal requests will no longer be generating rewards. Furthermore, in order to ensure smooth processing, Binance has placed a daily ETH redemption quota for each user, although this may be subject to change depending on the amount of ETH withdrawals requested by participants.

To add to the benefits of this development, Binance is currently providing a promotion that offers zero maker fees on BETH/ETH and BETH/USDT trading pairs. This promotion is valid up until the 10th of May 2023.

On the whole, the announcement by Binance is well-received by users, who can benefit both from the redeemed ETH tokens as well as the attractive promotion. With more users likely to join the ETH 2.0 staking program, users must stay up-to-date on the most recent ETH distribution date as it is subject to change.



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