Bitcoin
$65,428.93+5.20%
Ethereum
$3,113.87+3.00%
Binance Coin
$562.72+3.57%
Solana
$145.15+8.96%
XRP
$0.50300642+2.33%
Toncoin
$6.51+6.48%
Dogecoin
$0.15328869+4.33%
Cardano
$0.47248525+5.82%
Shiba Inu
$0.00002317+4.72%
Avalanche
$35.58+3.50%
Wrapped Bitcoin
$65,353.76+6.77%
Tron
$0.10943046+0.61%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
01
DAY
07
HR
07
MIN
16
SEC
Markets

eToro to Offer Staking Rewards for Holders of TRON and Cardano

Free of charge for eToro clients, the new staking service will initially support Cardano and TRON but will add other tokens in due course.

By Paddy Baker
AccessTimeIconOct 1, 2020 at 12:01 p.m. UTC
Updated Sep 14, 2021 at 10:03 a.m. UTC
Web Summit 2018 - Day 3
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Multi-asset exchange eToro is launching a new service that will offer rewards for "staking" tokens, beginning with TRON and ADA.

  • The trading platform announced Thursday that the service, one of the first to offer staking for Cardano's native ADA token, will go live later this month.
  • eToro will effectively execute the staking on behalf of its users.
  • Compared to proof-of-work protocols, which rely on miners running powerful computer hardware to confirm transactions, proof-of-stake (PoS) networks rely on the users themselves to stake, or lock up, their tokens and provides rewards for confirming transactions.
  • eToro's service is aimed to make staking more accessible for everyday users, the firm said in a statement. The exchange will email reports to users showing how much income they've made on a monthly basis.
  • A spokesperson told CoinDesk the service will be free of charge for eToro clients.
  • The number of fully functioning PoS networks is growing. Cardano, which has a market cap of $3.25 billion, launched its "Shelley" staking protocol in late July.
  • The month before, Coinbase Custody announced plans to offer secure Cardano staking sometime in Q4 2020.

See also: DeFi Meets Universal Basic Income With Just-Launched Project From eToro

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.