What is staking?
In simple terms, staking is a way of earning rewards for putting certain cryptocurrencies to work. This is possible only for cryptocurrencies that run on a mechanism called “proof-of-stake”, a way to ensure that transactions are verified and secured. Blockchain puts staked cryptocurrencies to good use – they become part of this process and pay back rewards to their holders, like the way a savings account pays interest to its holders.
Staking is one of the features that was requested by the Bitpanda community since it offers rewards for investors willing to stake selected crypto-assets.
As of today, more than 3M Bitpanda users can earn weekly rewards on their assets, without prior technical knowledge and with the security offered by the fintech unicorn’s regulatory & compliance standards.
No lock-in period, no warm-up period
All assets staked on Bitpanda are not locked in and are accessible at any time. This means that Bitpanda users can access their staked cryptocurrencies whenever they want. With no warm-up period, investors start earning from the moment they choose to stake their crypto, until the moment they decide to unstack.