At CEX.IO, we repeatedly attempt to enhance our companies to your comfort. We’re at all times in contact with our group, and regardless of the superb alternatives out there on our platform, we really feel there’s at all times room for enchancment.
Our staking product is the right resolution for crypto fanatics searching for a option to make their property work for them. By updating our staking product in mid-December, we are able to provide greater staking rewards for our customers, and likewise enhance your general staking expertise.
*Notice: Stakers will routinely stay on the present Automated Staking as soon as the brand new Staking service is launched in mid-December. For those who maintain stakeable property in your CEX.IO account with out transferring them to the brand new mannequin’s staking sub-account, your APY can be lowered by default. In different phrases, you have to to manually switch funds to the brand new staking sub-account to profit from greater staking rewards.
How does staking work on CEX.IO for the time being?
Our present staking mannequin (Automated Staking) doesn’t require any crypto expertise or technical information. This course of is simple and solely includes holding stakeable crypto cash in your CEX.IO stability. In different phrases, no extra actions are essential to earn staking rewards.
Due to this fact, so long as “stake-able” cash are saved in your CEX.IO account, you’ll earn staking rewards. The perfect half is that, in response to our present mannequin, these rewards are routinely distributed to your account stability on the finish of every month.
Due to this automated replenishment, your account stability will increase with every distributed staking reward. As the method continues, the growing stability additional empowers you to earn much more cash in subsequent staking intervals.
Concurrently, even in case you are at present within the strategy of buying and selling and your stake-able property are in open orders, we are going to proceed to rely them in Automated Staking and calculate rewards proportional to their worth.
For those who’re new to our platform and want to begin collaborating in staking, simply observe these easy steps:
- Log into your CEX.IO account.
- Purchase or deposit crypto tokens you want to stake.
- Once they seem in your account stability, your property will routinely begin collaborating within the staking course of.
How does the replace have an effect on the present CEX.IO staking mannequin?
As an alternative of solely providing the Automated Staking choice that’s out there now, the replace will diversify the staking alternatives out there to our customers. In doing so, it is possible for you to to decide on between two separate staking choices:
- Automated Staking (present mannequin), and
- Staking (extra on this in a bit).
Staking, the brand new mannequin that we’re introducing in mid-December 2022, would require customers to switch their funds to a staking sub-account (which additionally stays versatile).
Nonetheless, there are three advantages to this new staking mannequin:
Profit 1: Funds staked in sub-accounts will generate rewards every day, whereas Automated stalking will proceed to calculate rewards hourly however credit score them month-to-month.
Profit 2: Staking will characteristic a better APY in comparison with automated staking whereas nonetheless preserving your property versatile.
Bonus Profit: All first time Staking members will obtain a major APY enhance of as much as 50%. Don’t miss out on this distinctive alternative.