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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.

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.

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.

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.

Comments

Jino Tokieda

Former EMEA/APAC Operations Executive for a global photography company with 5 years of experience working with top technology companies in the US and have been involved with cryptocurrencies since 2019. Always been a fan of TRON and started getting into the TRX scene around 2020. Besides creating articles for Tron Spark, I'm a skateboarder and a full-time dad to two wonderful kids.

Kraken: Launches Staking for TRX Holders