Thursday , March 28 2024
Home / Crypto news / Cardano (ADA) Staking Live on the US-Based Kraken Exchange

Cardano (ADA) Staking Live on the US-Based Kraken Exchange

Summary:
The veteran US exchange Kraken has added Cardano (ADA) staking as of May 4th. This comes amid the growing interest in the cryptocurrency, the price of which has been on a roll since the start of the year. Staking in the cryptocurrency world requires the token holders to lock a certain amount of coins based on the proof of stake algorithm or any of its varieties. As such, they receive the right to vote and participate in the governance of the network and get rewards in new coins. The trend has been gradually increasing in popularity among investors, and numerous crypto exchanges started offering such services. The San Francisco-based veteran trading venue Kraken announced the addition of Cardano (ADA) on its staking platform yesterday. The firm said, “by staking ADA through

Topics:
Jordan Lyanchev considers the following as important: , , , , , ,

This could be interesting, too:

Wayne Jones writes US Lawmakers Urge SEC to Confront Prometheum’s Custody Plans for ETH

Anthonia Isichei writes Munchables Hacker Returns Stolen Crypto Funds Worth Over Million

Andrew Throuvalas writes This Bitcoin OG May Come Back To Development After Craig Wright Court Loss

Chayanika Deka writes Ethereum’s Vitalik Buterin Challenges Hype: Metaverse Is Still Misunderstood

The veteran US exchange Kraken has added Cardano (ADA) staking as of May 4th. This comes amid the growing interest in the cryptocurrency, the price of which has been on a roll since the start of the year.

  • Staking in the cryptocurrency world requires the token holders to lock a certain amount of coins based on the proof of stake algorithm or any of its varieties. As such, they receive the right to vote and participate in the governance of the network and get rewards in new coins.
  • The trend has been gradually increasing in popularity among investors, and numerous crypto exchanges started offering such services.
  • The San Francisco-based veteran trading venue Kraken announced the addition of Cardano (ADA) on its staking platform yesterday. The firm said, “by staking ADA through Kraken’s market-leading staking service, you will take your place among the decentralized community of supporters helping to secure the Cardano network.”
  • As previously reported, Cardano reached full decentralization at the end of March when the entire community consisting of over 1,800 pools became responsible for 100% of the block production.
  • Kraken users would have to add the ADA tokens into the exchange’s staking wallet as the service went live at 21:00 UTC on May 4th. According to the statement, the rewards will be paid out on a regular schedule – weekly – with “no waiting or lockup period.”
  • The rewards will be between 4% and 6%, which Kraken described as “one of the highest returns in the industry.”
  • Users will also be able to “quickly” exit from the staking position by transferring tokens from the staking wallet back to the spot address.

You Might Also Like:

Leave a Reply

Your email address will not be published. Required fields are marked *