Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » Business » Bitfinex Announces Staking Rewards for EOS, Cosmos, and More

Bitfinex Announces Staking Rewards for EOS, Cosmos, and More

by

Bitifinex announces staking rewards program for traders on the platform to earn an additional source of revenue.

Bitfinex adds new trading pairs to exchange

Share this article

Bitfinex today announced the launch of its Staking Rewards Program for various digital assets. At current, users can earn up to 10% per year by depositing EOS, Cosmos’ Atom, and V Systems token, VSYS.

Earn Staking Rewards on Bitfinex

Earning on dormant tokens has become the latest, must-have feature for various crypto businesses. Now, it appears that Bitifinex is joining the bandwagon. 

As per a press release shared with Crypto Briefing, users will be able to lock up their digital assets and begin earning competitive yields on their holdings. The current list of available tokens is currently quite short. 

The exchange’s CTO, Paolo Ardoino, told Crypto Briefing that the offering includes EOS, ATOM, and VSYSCoin. 

Ardoino also mentioned that Tezos’ native token, XTZ, will be launched in May at the latest.

“Eventually, users will be able to stake every token that we offer at Bitfinex,” he said.

Outside of trading, the exchange now offers yet another revenue stream for Bitfinex customers. The staking rewards for this first batch boast returns as high as 10% per year.

Ardoino said that this figure is currently only possible for V Systems’ VSYS. The yields for other tokens range between 1.5% and 8%. 

The Bitfinex CTO added:

“The rationale behind choosing EOS, V-Systems and Cosmos/ATOM was that Bitfinex is one of the key EOS block producers and has a really active EOS market. Cosmos and V-Systems are two of the most popular staking enabled blockchains.”

The staked assets will also be in control of Bitfinex, and “secured in the same manner as other tokens,” reads the exchange’s release.

Staking is also possible on crypto exchange Poloniex.

It allows users to earn 5.84% on their Tether (USDT) holdings, according to LoanScan. The Justin Sun-led crypto marketplace offers staking services for DASH, EOS, LTC, XRP, BTC, and ETH at the time of press.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.