The leading multi-asset brokerage firm eToro has said in an announcement today that it will be soon rolling out staking services for two famous digital currencies Tron (TRX) and Cardano (ADA). Users will be able to earn rewards through these staking services.
Users will receive rewards every month
In the announcement, the company said that Users will be given rewards on the staking of ADA and TRX cryptocurrencies every month. The company said that it will be conducting the process of staking “on the behalf of its users” and there will be no charges on this staking service.
Justin Sun, the founder and Chief Executive Officer (CEO) of Tron, said that they are very thrilled about getting TRON available on the trading platform of eToro. He 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 CeFi services, DeFi 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.
One of the first regulated exchanges to offer staking for Cardano
The cryptocurrency trading platform eToro is one of the first regulated cryptocurrency brokerage firms that will start offering staking for Cardano’s native digital currency ADA, said the Chief Executive Officer (CEO) and co-founder of eToro Yoni Assia.
Adding more to it, Assia said that they have a very active digital currency community and they want to make sure that they are providing them with the top-level services and products.
“eToro has a large and active crypto community and our goal is to ensure that we are always offering them the very best products and services. 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.”
The trend for offering staking services is significantly increasing in the cryptocurrency industry. The leading digital currency exchanges in the industry such as Binance and Coinbase are already offering staking services to users.