Wednesday, 12 August 2020

CEX.IO offers increased staking rewards in July

- CEX.IO has noticed an increased interest in crypto staking, and it decided to make a special offer.
- Any of its multiple tokens available for staking will bring 10% higher rewards in July.
- The platform also offers other benefits, like allowing the users to keep managing their coins during staking.

Staking has been a major topic in the cryptocurrency industry recently, and a growing trend around the world. With more and more people believing in a crypto-based future, there is no lack of those who are willing to HODL their funds and wait for the price surges of the future.

Meanwhile, platforms like CEX.IO have provided them with a way of earning a profit with their dormant coins, where the coin holder doesn’t have to do anything. This is what crypto staking offers.

What is crypto staking?

As mentioned, crypto staking is a method to earn rewards simply for possessing coins — and keeping them in the users’ account. By staking the coins, the coin holder gets to increase their earnings, which is an attractive offer that has already attracted many people in the crypto world.

Staking has grown so popular, and the demand has skyrocketed so much, that plenty of platforms decided to jump on the bandwagon and offer it to their own clients. Crypto.com and nexo.io are only some of the examples of those who offer such services today.

However, CEX.IO is interesting due to a different approach, as well as a special offer that the exchange recently announced.

How does CEX.IO approach staking?

CEX.IO appears to have a good understanding of the crypto industry and the people who participate in it. It understands that the crypto world is still not simple enough, which is why the platform itself made an effort to simplify the staking process as much as possible.

As such, it allows anyone to join and participate, without having to be particularly tech-savvy.

Next, the exchange is also offering flexibility, in a way where it doesn’t insist on locking the staked coins. This is great for users who may still want to use their tokens during the staking. Of course, the coins still need to remain on the account, but users do not have to just lock and forget about them in order to be rewarded for keeping them there.

Lastly, CEX.IO also announced a special July offer, where the service increased staking rewards by as much as 10% over the duration of the month.

The service offers staking for several different cryptocurrencies, including TRX, MHC, ONT, NEO, XTZ, and ATOM.

How to participate in staking on CEX.IO?

As mentioned, the platform is focusing heavily on simplicity, and so participating in staking is rather straightforward. All that users need to do is open an account, and purchase one of the mentioned tokens on the exchange, or deposit them in their CEX.IO account, provided that they already own them.

That’s all it takes. The staking rewards will then be added to the users’ balance automatically, and there are no additional actions that are needed.

Meanwhile, users can still trade their tokens while staking, and their rewards will still be calculated as long as the tokens remain in the users’ accounts. This will not change even if the user uses their tokens to place an order. But, if the order is fulfilled, and the amount of coins changes, the rewards will be re-calculated and changed accordingly, as well.

source: invezz.com

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