Bitpanda launches its staking service with 11 cryptocurrencies

A new staking offer on the Bitpanda platform

Bitpanda has always had the ambition to make it easier for users to access cryptocurrency. Listening to its community, the platform has decided to provide access to staking to its 3 million users.

This feature, which was the most requested by Internet users, is now available on Bitpanda app and website.

Bitpanda users can now earn passive income with an annual percentage rate of up to up to 27%. In order to promote its new offer, the platform also offers double rewards of this staking until June 7, 2022.

Profits will be distributed to users every week. This allocation is also done independently of how the blockchains behind these assets usually allocate their rewards.

Weekly revenue generated on Bitpanda will also be automatically reinjected into staking for increase income users. Handy if you don’t want to have to open the app every week to reinvest your earnings.

๐Ÿ‘‰ Find our full review and tutorial on Bitpanda

Simplified access to staking of 11 cryptocurrencies

For the opening of this offer, Bitpanda allows access to the staking of 11 cryptocurrencies, including SOL, DOT, TRX or ATOM. The platform plans to add more staking-eligible assets over the course of the year.

As staking is not exclusive to the Austrian platform, Bitpanda stands out for the absence of a blocking period. Thus, investors who proceed with staking retain full access to their funds to withdraw them whenever they wish.

It should also be noted that an absence of a waiting period makes it possible to collect income from the first week.

The desire to facilitate access to cryptocurrency and its mechanisms was supported by Eric Demuth, CEO and co-founder of Bitpanda :

โ€œAs a company designed to simplify investing in cryptocurrencies, we’re excited to make staking the way it should be: simple, straightforward, and hassle-free. ยป

The introductory offer and the ease of use of the platform could thus be a gateway for all new users wishing to start staking, or the most experienced wanting to migrate to a less restrictive investment method.

๐Ÿ‘‰ On the same subject: The neobank Revolut wants to get into DeFi with a lending and staking offer

Source: Bitpanda

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About the Author : Kamil Witoslawski

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As an economics student, cryptocurrency and blockchain caught my attention a few years ago, and I am now intrigued by their implications for the economy and society.
All articles by Kamil Witoslawski.

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