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5 cryptocurrency exchanges where you can stake cryptos & earn rewards

The post 5 cryptocurrency exchanges where you can stake cryptos & earn rewards appeared first on Go Cryptowise.

Staking cryptocurrencies have grown to become widely popular amongst cryptocurrency holders. This allows us to stake our cryptocurrencies in dedicated wallets and start earning interest. I will share a list of some of my personal favourite cryptocurrency exchanges where users like you and me can start staking our cryptocurrencies and start earning rewards. 5 cryptocurrency […]

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Staking cryptocurrencies have grown to become widely popular amongst cryptocurrency holders.

This allows us to stake our cryptocurrencies in dedicated wallets and start earning interest.

I will share a list of some of my personal favourite cryptocurrency exchanges where users like you and me can start staking our cryptocurrencies and start earning rewards.

5 cryptocurrency exchanges with staking enabled

What is great with these cryptocurrency exchanges is that not only is it very easy to get started with staking, you can also stop staking at any time.

I have only listed services with this feature available. So that you don’t need to lock your funds away for a long period of time*.

  • *However some of the exchanges offers both flexible and fixed staking. With fixed being an added option for those that are ok with locking their funds away and earn more in interest

1 ) Binance

Staking at Binance

One of the biggest cryptocurrency exchanges in the world is Binance.

And they have grown to become a leader due to its focus on providing customers with the most attractive features. Where staking is now one of them.

To start staking cryptocurrencies at Binance you really don’t need to do much.

In fact, all you need to do is buy or deposit a staking-enabled cryptocurrency. And then simply hold it in your Binance wallet.

After that Binance will pay out the staking rewards once per month.

And to start staking at Binance you need to buy or deposit a cryptocurrency with this feature possible (check that here).

2 ) KuCoin

KuCoin staking via Pool-X

Another cryptocurrency exchange with staking as an option is KuCoin. They call it soft staking. Which I guess draws a bit inspiration to cold staking, or due to the fact it’s done in an easy way.

Anyway it works like a bit differently to Binance but it is still simple. You need to to stake your assets via Pool-X.

And to not confuse you KuCoin actually have two different staking/bonus options on its site. One is this soft staking features, available now via their Pool-X exchange option (learn more how it works here).

The other bonus/staking options is that if you buy KuCoin Shares(KCS) cryptocurrency you automatically get a bonus.

This bonus is made out of the earnings that KuCoin makes from trading fees.

With KuCoin’s staking you can either use the flexible or fixed option. With fixed you can get additional rewards but then you will need to lock down your cryptocurrencies for the fixed period.

3 ) Kraken

Staking at Kraken exchange

Kraken also offers staking to its users. And they have two staking features available. One is called on-chain staking and the other is off-chain staking.

The first one, on-chain staking is provided to certain Proof of Stake protocol cryptocurrencies. With staking on Kraken you first need to be a verified starter level (minimum) at Kraken.

And then you of course need to buy or deposit the staking asset. After that you click on staking in the menu and select the asset to stake and click on ‘stake‘ and the amount to stake.

Kraken will then show you that you’ve sent your cryptocurrencies for staking and you will find more information under ‘Staked assets’.

To stop staking you simply click on ‘Unstake‘. So similar to KuCoin that you need to start the staking process. Whereas at Binance it is done automatically by holding it in your wallet.

And with off-chain staking, this is another feature only available to people from certain countries and with a more restricted staking pool. To see if off-chain staking is available for your country read more here.

4 ) Coinbase

Staking on Coinbase with Tezos

Coinbase also has staking enabled on its site/app. This is available for PoS blockchains. But at this point in time, it’s only available for Tezos (XTZ).

To start staking Tezos on Coinbase you go to Settings and Financial Services. From there you can opt in to start staking your XTZ.

And you of course first need to buy or deposit Tezos. You can buy XTZ from Coinbase directly.

5 ) Bitfinex

Bitfinex staking rewards for EOS, Tron, Tezos and other cryptocurrencies

You can also earn staking rewards on Bitfinex by staking your cryptocurrencies. Launched in April 2020 Bitfinex jumped onboard the staking train.

And now its users can stake popular cryptocurrencies such as Tron, EOS, Tezos and Cosmos amongst others directly from the exchange.

To start staking at Bitfinex you simply need to hold the asset in your account. And then you automatically start earning rewards from then.

Bitfinex pays out the rewards on a weekly basis.

What about the risks of leaving cryptos on an exchange?

With low paying savings account, collapsing economies and unstable markets every investor is actively looking into every possible opportunitiy for both long term and short term investments.

Cryptocurrencies such as Bitcoin have through the years proved to be a lucrative alternative. A safe haven that might be able to withstand the worldwide economic downturns.

But investing in Bitcoin can still be considered somewhat uncertain. At least from a short term perspective. And it’s hard to plan after it due to its volatile nature.

And mining Bitcoins is a very unrealistic task from a profit standpoint. Fine if you are hobby miner that wants to do it because it’s fun. But from a financial standpoint, it doesn’t make much sense.

But what is making a whole lot more sense is staking cryptocurrencies.

This is a lot easier and cheaper to get started with. No need for expensive mining rigs.

And with staking not only done from personal computers set up as nodes but now also possible at various cryptocurrency exchanges it is easier than ever.

With that said I wanted to look into the market for staking directly from a cryptocurrency exchange.

It is growing to become very popular because of how easy staking can be.

I am a bit ambivalent around the concept of staking from an exchange.

Like many others I’ve been told that in crypto we should be our own banks. And I have written in the past about cryptocurrency exchange hacks.

So I am well aware of the risks of leaving our funds on exchanges. And I personally use hardware wallets for most of my cryptocurrencies.

cryptocurrency exchange

Conclusion – which exchange to use for staking?

When it comes to selecting one of these exchanges to use for staking I would go by these factors:

  • Do they have staking available for the cryptocurrency that I want – Yes/No?
  • Then I would go with the exchange I use most often. If that’s Binance then go for them, if it’s KuCoin then use them.
  • Lastly for any choice I would to my due diligence. How secure are they? What are they doing to protect the users funds?

I’ve only included the cryptocurrency exchanges that I myself would use for staking. Some of these exchanges have been hacked in the past, like Bitfinex and Binance.

Have they learned from these past events? Yes. But is that definitely enough to always protect your funds? Maybe.

Therefore it is very important that you understand the risks and that you don’t make this decision to lightly.

I have written about how you can stake your cryptocurrencies by yourself and not use an exchange. And it is not that hard to get started. Especially with staking available at popular hardware wallets like Ledger.

Or with cold staking another smart invention.

Either way, I think if you don’t already stake your cryptocurrencies today that you should definitely look into it. It’s a great way to earn passive income!

Find other guides

  1. Best Binance alternatives
  2. Best Kraken alternatives
  3. Best Coinbase alternatives
  4. Best LocalBitcoins alternatives

Source: https://gocryptowise.com/blog/cryptocurrency-exchanges-with-staking/

Blockchain

A Crypto Friendly Future For Australia, Senators Propose New Regulations

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The Australian senate committee made 12 proposals to modify the current license and regulations over crypto assets, as well as the laws of taxation. The lawmakers believe Australia could take the lead in the digital economy if the laws were amicable.

The Senate Committee on Australia as a Technology and Financial Center (ATFC) states that the current regulations need to be adapted. As it was stated by the chairman: “The market is asking for regulation, and we are responding while trying to avoid trampling on innovation.”

Last year, Australian tax agents aimed to contact “as many as 350,000 individuals who have traded in cryptocurrency in the last few years.” To make a warning over meeting their tax obligations, as it was reported in News.com.au 

 Related Reading | Why Australia Has Issued A Warning On Crypto Profits To Investors

The Australian law currently considers cryptocurrencies as an asset, therefore its investors are bound to pay a capital gains tax and report to the ATO if the digital asset is held for more than a year or makes any financial gain.

Back then, news.com.au interviewed H & R Block’s director of tax communications Mark Chapman, who told them that many cryptocurrencies investors “have dabbled in this thing and not realized the tax implications”.

This notice stirred crypto investors and The Select Committee recommends accommodations that bring clarity. For instance, giving an incentive of a 10% of tax discount to the miners who use renewable energy.

As the global digital asset market is projected to grow to $6 billion by 2025, the senators believe that “Given the scale of Australia’s existing industry for custody of traditional assets, there is significant scope for Australia to benefit from becoming a leader in the digital assets space.”

Australia Wants To Attract Crypto Businesses

The committee asked for the recognition of decentralized autonomous organizations (DAOs), establishing a new regulatory structure. The senators’ report reads:

“DAOs do not clearly fall within any of Australia’s existing company structures. […] This regulatory uncertainty is preventing the establishment of projects of significant scale in Australia.”

Financial Review quoted the CEO of Blockchain Australia who said that “The recommendation that Australia looks to recognize DAO’s structures is a very strong signal to the world that we are ready to lead this conversation.”

Using the blockchains technology would diminish the need for intermediaries and could turn Australia into a prominent space for blockchain businesses.

The senators also asked Treasury to evaluate the possibilities for a CBDC. This idea has not been well received by the Reserve Bank of Australia before, but opinions might change as many countries are adopting their own and Australia aims to take the lead in the digital currency space.

 Related Reading | 110 Countries Are Exploring CBDC At Some Stage, Says IMF Managing Director

A survey from last September shows that 1 in every 6 Australians owns cryptocurrency and Bitcoin “remains the most popular one”.

As the tendency of Australians is to diversify their portfolio and the interest keeps growing, the proposed clarity in regulations and taxation will be beneficial for the growth of their crypto industry. Applying the measures should not wait for long to protect the customer’s and investors’ interests.

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Total crypto market at $2.5 Trillion | Source: Crypto Total Market Cap from TradingView.com

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Source: https://bitcoinist.com/a-crypto-friendly-future-for-autralia-senators-propose-new-regulations/?utm_source=rss&utm_medium=rss&utm_campaign=a-crypto-friendly-future-for-autralia-senators-propose-new-regulations

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Indicators that Bitcoin price would truly slump multiple times in the coming months

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On October 19, the first Bitcoin (BTC) exchange-traded fund (ETF) made its way to Wall Street, listing ProShares Bitcoin Strategy (BITO) which started trading on the New York Stock Exchange NYSE. The fund saw a little over $1 billion in trading volume at the end of its opening day, while Bitcoin price also rose to a new all-time high of $67,000.

Not too long after however, the spot gains reversed, and by Saturday Bitcoin price had returned to levels even below the $60,000 mark, thereby raising concerns about selloffs — those selloffs that almost routinely follow after a major crypto products launches on Wall Street.

What experts/analysts are saying with regards to Bitcoin Price correction

A renowned independent analyst, Nunya Bizniz took to Twitter in an effort to analyse the present situation based on past events. Recalling two of such major events as the launching of ProShares Bitcoin ETF: firstly, the listing of the first Bitcoin futures on the Chicago Mercantile Exchange (CME) and then the time when Coinbase’s stock (COIN), debuted on the Nasdaq stock exchange.

Each of those times, Bitcoin would rally towards a new all-time high, before plunging to untenable lows.

For instance, Bitcoin first rallied to its then all-time high of $20,000 on Dec. 18, 2017, when CME launched its Bitcoin Futures product. But the launch eventually culminated into Bitcoin plunging to around $3,200 some twelve months later.

In quite a similar fashion, COIN’s debut on Wall Street in April this year, also saw Bitcoin rallying to a new all-time high around $65,000 some ten days after. However, the rise was short lived yet again, bringing BTC to as low as $28,800.

Another analyst Lark Davis has also shared his thoughts, claiming he wouldn’t be surprised if the Bitcoin price crashes following the launch of ProShares ETF based on pervious events with CME.

Now despite all of the bearishness usually linked with high-profile Wall Street crypto listings, some analysts are still of high hopes that this time will be different. The likes of Todd Rosenbluth, head of ETF and mutual fund research at CFRA, and Noelle Acheson, head of market insights at crypto trading firm Genesis, believe that Bitcoin ETF’s impressive debut of this month would result in very little downside moves in the spot BTC market.

In all of this though, one thing remains certain. While some experts expect multiple-month slumps, others expect slumps that may not be for too long. So in any case, and from all indications, a slump in price is expected

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/indicators-bitcoin-price-truly-slump-multiple-times-coming-months/

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MEXC Wins Title Of Best Exchange In Asia At The Crypto Expo Dubai Conference

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MEXC Wins Title Of Best Exchange In Asia At The Crypto Expo Dubai Conference

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MEXC Global was crowned the best cryptocurrency exchange platform in Asia at the Crypto Expo Dubai 2021. MEXC dedicates this accolade to all its loyal customers and supporters, without whom an audience for it would be non-existent.

Some of the prominent players in the blockchain industry graced the rare event, including 50 crypto-based companies, and over 60 CEOs and founders from more than 30 countries. The event hosted more than 3,000 traders, with MEXC as a gold partner.

The expo aimed to bring together investors and industry leaders to network and share ideas on how to transition the global economy into a new crypto era. Major companies in the Asian digital asset sector have a chance to exhibit their diverse products and services in addition to sharing their insights about the crypto industry.

Among the presenters of the Dubai crypto conference, was MEXC. The exchange’s team showcased the company’s cluster of crypto-focused services, in addition to explaining how it plans to penetrate the global population. Representatives also utilized the interacting experience to obtain transformational ideas from some of the leading experts in the digital asset industry. This information will be applied duly when upgrading MEXC’s marketing strategy.

Even more, the representatives physically interacted with executives from many other crypto companies and jointly defined ways to further engage more members of the crypto community.

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Notably, the award lays out MEXC’s successful globalization strategy and its market adaptable ambitions. The Singapore-based exchange currently boasts over $500 million in trading volume. It also has a growing user base in more than 200 countries, including Japan, India, Turkey, Indonesia, South Korea, Brazil, and Africa among many others.

Launched in 2018, the centralized crypto exchange has made efforts to improve coverage of its diverse crypto trading opportunities among investors globally. The company has also forged partnerships with some of the most revolutionary blockchain platforms and crypto on-ramp projects to intensify crypto products.

More recently, the global exchange collaborated with the market-leading blockchains Solana, Avalanche, and Polygon. These promising platforms benefit from MEXC’s eco funding and technical support that encourages mainstream adoption of blockchain technology and the crypto industry.

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Source: https://zycrypto.com/mexc-wins-title-of-best-exchange-in-asia-at-the-crypto-expo-dubai-conference/

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