Online broker eToro announced today that it has launched staking for Polkadot (DOT) and Cosmos (ATOM), enabling eligible users to earn rewards by holding these assets.
Eligible users are now able to stake DOT and ATOM, in addition to Solana (SOL), Ethereum (ETH), Cardano (ADA), Tron (TRX), NEAR Protocol (NEAR) and Polygon (POL).
Staking allows investors to utilise their cryptoassets by locking them up to support a blockchain network’s operations, such as validating transactions. In return, the staker earns rewards, making it a way to grow cryptoasset holdings while helping secure the network.
Adi Lasker Gattegno, Director of Crypto Desk at eToro, said:
“With growing interest in crypto, we remain committed to providing users with more opportunities to engage with digital assets and participate in the blockchain ecosystem. Following the successful launch of NEAR and POL staking on eToro in December, we’re excited to offer staking for two more assets, allowing users to earn passive rewards easily and securely.”
Eligible users based in the EU who have not participated in staking before need to manually opt in to stake cryptoassets. All eligible users staking their cryptoassets will receive monthly email updates explaining how much they earned in staking rewards and how it was calculated. Users can opt out of the staking programme at any time.
To be eligible for staking rewards, users must reside in a country where staking is permitted and have held an open position of the staked cryptoasset for a set number of ‘intro days’. Positions held in Smart Portfolios or as CFD, CopyTrader, or short positions are not eligible.
Users should note that crypto staking comes with possible risks as well as rewards. During the lockup period, assets have limited or no liquidity and their price may rise or fall. In the event that the blockchain validator violates protocol rules, the network protocol can confiscate or ‘slash’ the staked assets.
