eToro launches staking for Cardano (ADA) and Tron (TRX)
eToro plans to add staking for NEO, Tezos (XTZ) and EOS.
eToro is launching staking for Cardano (ADA) and Tron (TRX) starting this October.
Sticking from ADA and TRX on eToro
EToro users can now earn monthly staking rewards from Bitcoin Future and Tron (TRX). The first staking fees will be distributed at the end of October.
Investors who hold qualifying cryptocurrencies do not need to do anything to start staking on eToro. The company will automatically distribute the rewards.
While Cardano and Tron are the only projects currently supported, eToro plans to add staking for NEO, Tezos, EOS, and possibly Ethereum 2.0 in the near future.
Fees and conditions
Users must meet certain conditions to be eligible for the rewards: they must hold the cryptocurrency in question for several days and earn at least $ 1 in rewards.
In addition, eToro charges fees on staking in the range of 10 to 25% of income. For example, if staking brings a return on investment of 6%, investors will earn 4.5-5.4% on their funds in ADA or TRX. The precise amount that investors will earn is based on the level of investor buy-in from each cryptocurrency’s performance.
That said, Cardano and TRON have already simplified the staking process with delegation functions in their official wallets. It is not much harder to do it, either, and enjoy the full pay.