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- Bitfinex cryptocurrency exchange announced about its entry into the staking market.
- Users of platform can earn up to 10% per annum by storing tokens that play a role in supporting the stake on the exchange.
- Bitfinex announced Staking on EOS, V.Systems ,Cosmos tokens (ATOM). Later in May, Tezos (XTZ) will be added to this list.
Earlier today, Bitfinex cryptocurrency exchange announced about its entry into the staking market. Users can earn up to 10% per annum by storing tokens that play a role in supporting the stake on the exchange, according to the website of the Bitfinex exchange.
Paolo Ardoino, Bitfinex CTO unveiled their plans on the same. He said that in the beginning they would be supporting EOS, V.Systems ,Cosmos tokens (ATOM). Later in May, Tezos (XTZ) will be added to this list. He further said that all the tokens with the support for staking would be added in the nearing months.
The estimated annual amount of remuneration for various cryptocurrencies are reported as:
- For Cosmos: 1.5% – 3%.
- For V.Systems: 8% – 10%.
- For EOS: 0% – 3% .
- For Tezos: 3% – 5%..
Ardoino’s answer to the queston about why Bitfinex exchange chose the above tokens when launching the platform was Bitfinex being one of the key producers of EOS blocks, owns a really active EOS market, and Cosmos and V. Systems are the two most popular blockchains in the aspect of supporting the staking.
Bitfinex Offer’s 3.3x leveraged margin trading
Bitfinex, a cryptocurrency exchange owned by iFinex Inc is a trading platform for major digital assets & cryptocurrencies, including Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, Monero and many more. It offers leveraged margin trading through a P2P funding market thus allowing secure trade with up to 3.3x leverage to the users.
Few of its features are as follows:
- It offers the most liquid order book in the world, thus allowing easy exchange of Bitcoin, Ethereum, EOS, and many other digital assets to the users.
- It allows up to 5x leverage trading through provision of accessibility of peer-to-peer funding market to the traders.
- It prioritises security of user information and funds over the other factors.
Therefore, Bitfinex joins the cryptocurrency exchanges that offer staking services alongside Coinbase, Binance and Kraken.
At present, Coinbase and Kraken support only XTZ and have remained the largest Tezos validators. Kraken has its plans to add support for ATOM and DASH in the coming years. Whereas Binance, at present is supporting over 15 coins, including Tezos, EOS, and ATOM.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
