Staking on Bitpanda: Put your cryptocurrencies to work

Staking is one of the most requested features by the Bitpanda community, and it’s coming soon! Bitpanda staking will give the investors the chance to earn rewards in various crypto assets. Stay tuned for updates and read on to find out what staking is really all about.

Whether you are a newcomer to the world of cryptocurrencies or an experienced investor, you have probably heard of the term “staking”, which is described as a fundamental feature in the future of cryptocurrencies. So what does it consist of?

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What is staking?

To confirm that a proof-of-stake (PoS) blockchain is secure and decentralized, some participants in that network “stake” their crypto assets (stake them) to confirm or support the validation of transactions and ensure optimal operation.

Staking offers an opportunity for these participants or “validators and delegators” to earn rewards by locking their coins in cryptocurrency wallets to verify network transactions on a PoS (Proof of Stake) blockchain. This means that holders of a select range of coins will be able to use them to stake directly on Bitpanda and have the potential to earn additional income.

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What are the main advantages of staking?

You can earn more cryptocurrencies

Staking can be a very profitable* way to earn interest on your crypto asset portfolio and provide an additional source of high-yield income. With Bitpanda, the process is easy and gives you the opportunity to put your wallet to work for you.

Strengthen network security

While keeping the PoS blockchain secure may not be your top priority, it is vital to keeping the network efficient and protecting its users, which also includes you.

It is greener than proof-of-work (PoW) cryptocurrency mining

Proof-of-stake (PoS) blockchains are considered to be a better option for the environment, as staking rewards participants for verifying transactions based on their staking on the network, unlike PoW networks, that reward miners who are faster at solving computationally complex calculations, which ultimately requires the use of more energy.

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When will staking be available on Bitpanda?

Bitpanda knows that staking is important to you as an active member of the community, so Bitpanda will launch it in a couple of weeks. Don’t miss the staking announcement and stay up to date with the latest Bitpanda news via the social media channels and the Bitpanda blog . Don’t forget to subscribe to the official Bitpanda YouTube channel to watch the weekly recaps and video content.

Do you want to know more about staking?

Create a free account in a matter of minutes with the Bitpanda app for iOS and Android or on the website and start investing in fractional stocks **, ETFs **, cryptocurrencies, crypto -indices or precious metals with no fees and from just €1. Join a community of more than 3 million investors across Europe!