Crypto.com now supports on-chain staking, enabling clients to tap into rewards offered by certain proof-of-stake networks.
Singapore-based Crypto.com now supports on-chain staking of cryptocurrencies including Ethereum, Solana, and Polkadot. Users can earn dividends for validating transactions, with no mandatory lockup period. The exchange also recently discontinued its institutional service in the U.S., citing decreased demand.
Crypto.com has recently rolled out the red carpet for on-chain staking. And guess what, the guests of honor include Ethereum (ETH), Solana (SOL), and Polkadot (DOT). Imagine being able to munch on some juicy crypto dividends simply by depositing and holding your coins on the Crypto.com app. No mandatory lockup periods. No fuss. Quite the tech party, eh?
Just in case you’re wondering, on-chain staking is like that nerdy cousin who helps maintain the network and gets rewarded for it. On the other hand, off-chain staking (also known as lending) is a bit of a thrill-seeker, purely financial-driven, and happens outside the blockchain, making it a tad riskier. Remember, with great rewards come great… well, you know the rest.
Also on the Crypto.com news reel, the exchange has decided to roll credits on its institutional exchange service in the United States due to decreased demand, likely influenced by the ongoing legal actions against bigwigs like Binance and Coinbase. However, they assured retail users that the mobile application and platform will keep running smoothly. So no worries there!
