Trading and investing platform eToro announced today
(Wednesday) the launch of staking services for Solana (SOL) and Ethereum (ETH).
This addition allows users to earn rewards by participating in staking
activities.
Previously, eToro offered staking for Cardano (ADA) and Tron
(TRX). Now, Solana and Ethereum are also included. To qualify for staking
rewards, users must be in a country where staking is allowed and must have held
an open position in the staked cryptocurrency for a specific period, known as
βintro daysβ.
Positions held via CFDs, CopyTrader, Smart Portfolios, or short
positions are not eligible.
Staking Risks and Rewards
eToro will retain a portion of the staking yield to cover
operational, technical, and legal costs. Staking cryptocurrencies carries risks
as well as potential rewards. During the staking period, assets may have
limited or no liquidity, and their value may fluctuate.
Additionally, if a
blockchain validator breaches protocol rules, the network may impose penalties
or βslashβ the staked assets.
For Solana, users are automatically enrolled in staking upon
opening a position. To stake Ethereum, users must actively opt into the
program. eToro will provide monthly email updates to eligible users detailing
their staking rewards and the calculation method. Users can opt out of the
staking program at any time.
This article was written by Tareq Sikder at www.financemagnates.com.
This post is originally published on FINANCEMAGNATES.
