Cryptocurrency trading platform eToro announces to offer staking services for Tron (TRX) and Cardano (ADA). In the future, the platform will further expand its staking services for other coins including EOS, NEO, ETH 2.0, and Tezos.
On staking both TRX and ADA, users of eToro will get rewards automatically on monthly basis after receiving an email with individual staking information. Current data shows that holders can earn a 7.82% annual yield on ADA while 5.78% on TRX.
“Staking is an important development in the crypto market but it’s difficult for people to access its benefits on a secure platform, which is what we’re enabling our global community of investors to do by offering this new service,” Yoni Assia, founder and CEO of eToro, stated. “We are proud to be one of the first regulated platforms to offer a staking service for Cardano and will be further expanding our staking service in the coming months.”
eToro will Add More Coins in Future
Assia further explained that multi-asset brokerage is also “working on offering future staking rewards on other crypto assets, including NEO, Tezos, and EOS.” The company is also working with Ethereum to “offer staking on ETH2.0 when it moves to proof of stake.”
Justin Sun, Founder and CEO of Tron, said:
“We are thrilled that eToro has chosen TRON as one of the first assets to be offered on their new staking service.”
“As we continue to see diminishing returns from traditional [centralized finance] services, [decentralized finance] is continuing to expand. Services such as eToro’s new staking service takes the complexity and confusion out of the staking process, and makes it accessible to everyone,” he added.
eToro spokesperson said users who are staking digital assets can “benefit from doing so on a regulated and globally trusted platform. We also believe staking rewards on our platforms are among the most generous in the market, from a minimum of 75% of the staking yield.”