Polkadot and Cosmos staking are introduced by eToro.
Polkadot (DOT) and Cosmos (ATOM) staking has been introduced by online broker eToro, allowing qualified customers to profit from holding these assets.
Along with Solana (SOL), Ethereum (ETH), Cardano (ADA), Tron (TRX), NEAR Protocol (NEAR), and Polygon (POL), eligible users can now stake DOT and ATOM.
Investors can use their cryptoassets through staking, which locks them up to facilitate blockchain network functions like transaction validation. Staking is a method to increase cryptoasset holdings while assisting in network security because the staker receives rewards in exchange.
Adi Lasker Gattegno, Director of Crypto Desk at eToro, said:
“With growing interest in crypto, we remain committed to providing users with more opportunities to engage with digital assets and participate in the blockchain ecosystem. Following the successful launch of NEAR and POL staking on eToro in December, we’re excited to offer staking for two more assets, allowing users to earn passive rewards easily and securely.”
To stake cryptoassets, eligible users with an EU address who have never done so must explicitly opt in. Every month, all qualified customers who stake their cryptoassets will receive an email with information on how much they have earned in staking rewards and how it was determined. At any point, users have the option to withdraw from the staking program.
Users must live in a nation where staking is legal and have maintained an open position in the staked cryptoasset for a predetermined number of “intro days” in order to be eligible for staking rewards. Short positions, CFD positions, CopyTrader positions, and Smart Portfolio positions are not eligible.
Users should be aware that there are potential dangers and benefits associated with cryptocurrency staking. Assets have little to no liquidity during the lockup period, and their value may fluctuate. The network protocol has the authority to seize or “slash” the staked assets if the blockchain validator breaks protocol guidelines.
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