Kraken The Crypto Exchange Adds Support for Tezor Staking

Must Read

Can XRP defend its price?

Could XRP defend its price action, and rise back to $0.30? Here is my view on how...

With a 110% increase in crypto wallet adoption rates in 2020 are we set for another Bitcoin boom?

2020 has been a massive year for crypto adoption. In July alone, over 3.5 million crypto wallet app downloads...

DeepTradeBot: The innovation of large companies at your service

DeepTradeBot is a collection of automated trading tools developed by Deep Neuro Networks LTD, a London, England-based company...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Cryptocurrency exchange Kraken is launching support for Tezos (XTZ) staking, according to an announcement published on Dec. 11.

Starting on Dec 13., Kraken will enable its users to trade with XTZ and obtain instant financial rewards. To begin staking XTZ, users have to put the cryptocurrency into their Kraken Staking Wallet, but already having XTZ in their Spot Wallet.

Those users who stake XTZ will reportedly receive a 6% return annually, with rewards paid two times a week. Kraken further notes that it will charge clients a 15% service fee on staked rewards, as well as that staked tokens are inaccessible for trading or withdrawal.

Kraken’s recent developments

The news comes on the heels of a recent announcement that Kraken added support for the Swiss franc. The Kraken team further revealed that it will roll out trading pairs between the Swiss franc and Bitcoin (BTC) and Ether (ETH), with the future possibility to add more trading pairs.

In late October, Kraken began listing OmiseGO (OMG) and PAX Gold (PAXG) tokens. Also, Kraken joined the Silvergate Exchange Network (SEN), which enables its clients to deposit and withdraw U.S. dollars from Silvergate accounts with no fees.

Major exchanges add staking support

Earlier in December, the second-largest cryptocurrency exchange in terms of daily trade volume, Binance, announced support for XTZ staking. Initially, Binance’s CEO Changpeng Zhao hinted at the possibility of staking in September, when the exchange initially listed the coin with three trading pairs against Bitcoin, Tether (USDT) and Binance Coin (BNB).

Major American crypto trading platform Coinbase’s custody arm announced that it is transitioning to an internationally-based staking service, in November. Coinbase Custody thus appears to be leveraging its brand recognition to promote staking as a key emergent investment strategy for the blockchain and cryptocurrency space.

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

Flyp.me Instant Crypto Exchange Now Supports REN Token Trading

Decentralized finance is leading the way of the cryptocurrency industry, with the REN Protocol at the front. REN Protocol is...

BLOCKCHAIN OVERCOMES POSSIBILITY OF FRAUD, LACK OF TRANSPARENCY AND TRUST IN THE GAMBLING INDUSTRY

DATE: 07/08/2020 In a recent study carried out by the UK Gambling Commission reveals that the gambling industry has...

The Kuailian Ecosystem, Bringing Blockchain Technology To The World

10 years have passed since the birth of Bitcoin and the first use of Blockchain, a technology that has not stopped evolving,...

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...