EXCLUSIVE: Bitpanda Introduces Staking, Empowering Investors To Earn On Selected Crypto-Assets
– Bobby Suman, Fintech Finance
“As a company that was founded to simplify investing in crypto, we are excited to make staking as it should be: simple, straightforward, hassle-free”, said Eric Demuth, Bitpanda CEO and Co Founder.
There is severe uncertainty in the crypto market right now as prices plummet downwards and consumer confidence in the space is tested. However, ups and downs are the signs of a healthy market, and, at least in the long term, it may not be all doom and gloom for participants trying to further their income.
Leading European digital investment platform Bitpanda recently introduced Bitpanda Staking, giving all investors the possibility to earn up to 27% extra income on selected crypto portfolios.
You might ask, what is staking? Staking is a way of earning rewards for putting certain cryptocurrencies to work. This is possible only for cryptocurrencies that run on a mechanism called “proof-of-stake”, a way to ensure that transactions are verified and secured. Blockchain puts staked cryptocurrencies at good use – they become part of this process and pay back rewards to their holders, similar to the way a savings account pays interest to its holders.
To begin with, Bitpanda will make eleven cryptocurrencies available for staking with Bitpanda: ADA, TRX, XTZ, SOL, DOT, MATIC, ATOM, GRT, KSM, NEAR and LUNA.
Staking is one of the features that was requested by the Bitpanda community and as of today, over 3 million Bitpanda users can earn weekly rewards on their assets, without prior technical knowledge and with the security, trust and confidence offered by the fintech unicorn’s regulatory & compliance standards.
Significantly, Bitpanda staking does not require a lock-in or warm-up period, an innovative feature. All assets are accessible at any time so that investors can start earning from the moment they choose to stake their crypto, until the moment they decide to unstake. Furthermore, there are also weekly rewards for staking that begin immediately. Bitpanda users will receive staking rewards for their staked assets once a week, independently of how blockchain distributes rewards. Rewards will also increase over time.
Eric Demuth, Bitpanda CEO and Co Founder, voiced how “Bitpanda Staking is the easy way to put crypto at work and it offers our community the opportunity to earn additional income on selected crypto-assets, with a one-click feature that requires no prior technical knowledge. We are committed to enabling staking for more cryptocurrencies throughout the year.”
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