Kraken, is one of the largest cryptocurrency exchange in the world have announced that they would be supporting staking for their TRON (TRX) holders on their platform.
We’re excited to announce our support for @TRONDAO $TRX staking!
Earn up to 9% in yearly rewards, issued weekly with instant stake & unstake.
* Staking is not available to clients in US, CA, AUS & JP pic.twitter.com/KsspPZlX7R
— Kraken Exchange (@krakenfx) January 28, 2022
Staking TRX in Kraken would allow holders to earn up to 9% in yearly rewards which will be distributed to the holders’ wallets twice a week and this would be another way to maximize earnings instead of those coins or fiats just left unused on their Kraken accounts.
Last March of 2020, Kraken listed TRX for the first time on their trading platform and it started with four live trading pairs:
- TRX/USD
- TRX/EUR
- TRX/XBT
- TRX/ETH
Asides from the TRX staking announcement last weekend, they have also added trading support for several tokens on their platform on the same day.
What is Kraken?
Kraken is the 4th biggest cryptocurrency exchange in the world and it was established in 2011. It is one of the pioneers when it comes to Bitcoin exchanges and currently supports 87 cryptocurrencies, including popular ones such as:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Polkadot (DOT)
- Polygon (MATIC)
- Ripple (XRP)
- Stellar Lumens (XLM)
- Solana (SOL)
- Sushi (SUSHI)
- TRON (TRX)
- Uniswap (UNI)
Asides from the wide range of cryptocurrencies, Kraken also has advanced trading features which can be used by experienced traders, the exchange has reasonable fees and has one of the best security features in the market.
New to crypto? We make it easy to get started ✨
💳 Get crypto with your bank account
🛍 Buy or sell #Bitcoin & 50+ cryptos
👖 Your portfolio in your pocketDownload the Kraken app: https://t.co/xh1tgHwIdk pic.twitter.com/MfSob6eUZA
— Kraken Exchange (@krakenfx) January 28, 2022
One of the key features of Kraken is users can fund their accounts with fiat currencies such as USD, EUR, CAD, JPY, GBP, CHF, and AUD.
Besides their trading and staking features, Kraken also has Margin Trading, Indices, and Futures Trading.
What is TRON?
TRON is a blockchain-based decentralized platform founded by the former TRON CEO, Justin Sun in 2017 and it aims to create a free, global digital content entertainment system with distributed storage technology and allows easy and cost-effective sharing of digital content.
🎉🎉🎉Congratulations!!! #TRON ‘s total accounts have reached 74,095,579, exceeding 74 million!
🚀#TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.
🥰Appreciation to all #TRONICS pic.twitter.com/XKQ4qrPhqe
— TRONSCAN (@TRONSCAN_ORG) January 29, 2022
It has a native cryptocurrency called Tronix or TRX and the company is dedicated to building the infrastructure for a truly decentralized Internet and they have added blockchain support to different fields such as DeFi, NFT, and GameFi.
Overall, the addition of the staking feature for TRX would provide holders with an alternative way to earn rewards using the Kraken platform.
For more news and updates, see Tron Spark.
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