Saturday, September 23, 2023
HomeEthereumSwissquote launches Ethereum staking feature with 5.2% APY

Swissquote launches Ethereum staking feature with 5.2% APY

Swissquote has introduced a staking service for Ethereum (ETH). This is how you earn rewards for acting as a transaction validator on the Ethereum blockchain.

This process allows users to earn dividends or interest on their Ether holdings simply by depositing and holding the second largest cryptocurrency on the platform.

The Swiss online bank has posted the terms and conditions for staking Ethereum on its website, stating that the token annual yield (APY) staked in the network will be an estimated 5.28%. Rewards are currently locked, company details, but yields will be distributed retroactively when the Ethereum protocol is updated.

Best of all, there is no minimum withdrawal period, so you can exit your staking position at any time. However, the yield rate is subject to change and is highly dependent on fluctuations in the total amount of tokens locked by staking on each network.

Additionally, ETH staking users will not be able to unstake via open market tradable tokens without waiting for the Shanghai upgrade.

In the staking process, users delegate their holdings of tokens to users running blockchain software and share the profits. The decision comes amid great interest from retail investors who are open to the idea of ​​profiting from crypto assets.

The move also offers another crypto onramp for those looking to enter the crypto space, moving from the energy-intensive proof-of-work consensus mechanism that the Ethereum network has long promised to proof-of-stake. immediately following the transition of

swiss quotes We are launching our own cryptocurrency trading platform to further explore the digital asset space. Earlier this month, the company announced that it will operate and operate its own cryptocurrency exchange called “SQX.” To sweeten the offering even further, Switzerland’s largest online bank plans to add the currently in-demand stablecoin and staking services to its list of cryptocurrency offerings.

The new service aims to combine Swissquote’s expertise as a provider of online trading services with digital asset security to provide custodial services to investors looking to gain exposure to rapidly emerging asset classes. is.

Brokerage firm allows clients to invest in Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, Chainlink, Ethereum Classic, EOS, Stellar, Tezos, Augur, Ox, Cardano, Uniswap, Arb, Cosmos, Algorand, filecoin, maker, compound,, dogecoin, polkadot, solana.

Swissquote’s cryptocurrency offering is Dukascopy It has its own cryptocurrency and allows clients to deposit and withdraw funds in digital coins as well as free internal crypto transfers between mobile banking users.

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