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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 […]

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

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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

What Coinbase Going Public Could Do For Crypto

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Messari Values Coinbase At Nearly $30 Billion As The Bitcoin Exchange Prepares To Officially Go Public

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Coinbase, the biggest US-based cryptocurrency exchange has disclosed its detailed plan for the upcoming direct listing on the stock market by Nasqad. Coinbase submitted an S-1 report to the US SEC outlining key information such as revenue and ownership structure for investors to carry out due diligence on the company.

According to the document, Coinbase has 43 million verified users and an average of 2.8 million transactions per month. In 2020, the company returned a net income of $322 million from total revenue of $3.4 billion, with transaction fees constituting 96% of the net revenue.

Coinbase which makes most of its profit from bitcoin and Ethereum transactions, also saw a 56% increment on its $1.1 billion direct revenue for 2020 compared to $482 million in 2019.

The company incurred a total of $880 million in expenses for 2020, most of which went to sales, general administrative expenses, and research and development. Transaction reversal costs miners fees, staking fees, and verification expenses constituted $135 million of the total expenses,

Coinbase also made $533 million in 2019, against $579 million in operational and development costs, leading to losses totaling $46 million.

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Coinbase to Usher Crypto’s Real Mainstream Adoption

The report indicates that much of the revenue for 2020 was generated from institutional investors’ activity in the crypto market but with higher retail activity in Q4 2020 than in previous quarters.

Coinbase’s debut as the first publicly listed crypto-exchange in the US is estimated to be one of 2021’s largest new listings of the tech industry. This will have a huge positive impact on the crypto market investors and blockchain technology backers.

According to the crypto trader and analyst Rekt Capital, the public listing will officially open up cryptocurrencies to the public.

“Coinbase going public is another way of saying crypto is going public.”

Coinbase Becomes Decentralized

The update comes a month after Coinbase chose Nasdaq as its direct listing avenue on February 1, following a secondary Coinbase stock launch by Nasdaq Private Market on January 25.

Now that Coinbase has moved to a remote-first environment without headquarters in any city, the company is referring to itself as a decentralized company. Up to 95% of Coinbase employees have the option to work at home, in a post-office world setting, or a mix of both.

“since we’ve made the decision to go remote-first we’ve decentralized ourselves; even after people can safely return to offices, the executive team has no plans to be “in-office” on a regular basis,  and none of them currently live in San Francisco.”


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/what-coinbase-going-public-could-do-for-crypto/

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Blockchain

3 types of bitcoin investors that ‘should be concerning to central banks’

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With 106 million global crypto users as of January 2021 and a crypto population that has now surpassed 100 million, a financial expert noted that central banks must now be wary of certain crypto investors. In a new seminar held by the University of Pennsylvania’s Wharton School, part-time professor, Mohamed El-Erian, who is also Chief Economic Adviser at Allianz said that Central Banks should be careful about three specific groups of Bitcoin investors. 

He explained that while the first group of people is investing for positive reasons, the second is motivated by negative factors to adopt Bitcoin. The positive investors “truly believe Bitcoins will become money ”or “a currency as opposed to a commodity.” 

However, El-Erian cautioned that central bank authorities must keep watch on those “being pushed out of everything else and pushed into Bitcoin”, forming the second group that the expert earlier mentioned. 

They look to Bitcoin in order to protect themselves from government investment options, which some investors believe has been “artificially jacked up.” Interestingly, a recent survey found that people aged over 55 opted for Bitcoin due to a fear of currency devaluation – as central banks have historically printed more money to boost economies. The expert said that such people are forced to invest in the asset because “they don’t know how else to mitigate risk.” 

Do you really want to invest in a government bond whose price has been? So ‘let’s diversify, let’s put 2% into Bitcoins.’

El-Erian further categorized “speculators” as the third type of investors, who face profits and losses albeit “in a single day.” According to him, all three types of investors “should be concerning to central banks.”

When it’s trading above $50,000, all three messages are problematic for central banks. So, we are going to see central banks look increasingly at cryptocurrencies as something they should be involved in, and not just stand on the sidelines.


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Source: https://ambcrypto.com/3-types-of-bitcoin-investors-that-should-be-concerning-to-central-banks

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Blockchain

Exchange listings and NFT boom back Enjin’s (ENJ) 52% rally to a new high

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Non-fungible tokens (NFT) are rapidly becoming a focal point of the cryptocurrency market as evidenced by stories of millions of dollars being raised in minutes for one-of-a-kind tokenized art pieces and rare collectibles that traders rush to get their hands on. 

One project that has been benefiting greatly from the resurgence of NFTs is Enjin Coin (ENJ), which broke out to a new all-time high of $0.67 on Feb. 25 following its listing on the Crypto.com exchange as well as the launch of spot and perpetual futures trading on FTX.

Data from Cointelegraph Markets and TradingView shows that ENJ rose 52% from a low of $0.438 on Feb. 24 to a new high of $0.67 before experiencing a pullback to its current price of $0.611.

ENJ/USDT 4-hour chart. Source: TradingView

A scroll through the project’s Twitter feed details numerous recent partnerships and integrations that have helped fuel Enjin’s price rise.

Minecraft is one of the most notable integrations for the Enjin ecosystem and users are able to earn special NFTs that unlock secret games inside the video game series.

The platform has also benefited from joining forces with the growing ecosystem of the Binance Smart Chain (BSC), which has launched an NFT educational campaign that Enjin will be part of.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ENJ on Feb. 24, several hours before today’s price rise.

The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of the historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. ENJ price. Source: Cointelegraph Markets Pro

As seen on the chart above, the VORTECS™ score for ENJ reached a high of 70 on Feb. 24, shortly before the price began to spike to a new all-time high on Feb. 25.

The growing popularity of the NFT space, along with numerous big-name partnerships has Enjin well-positioned as the current bull market cycle progresses into 2021.

Its recent integration with the BSC provides a way to escape high fees on the Ethereum (ETH) network and could bring a new wave of activity to the Enjin ecosystem.

Source: https://cointelegraph.com/news/exchange-listings-and-nft-boom-back-enjin-s-enj-52-rally-to-a-new-high

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