After Binance, crypto exchange Kraken announced the launch of Ethereum staking ETH 2.0
In its press release, Kraken indicates that Ethereum ETH 2.0 staking starts Friday, December 4 at 1:30 p.m. UTC.
What are the advantages of ETH staking with Kraken?
Kraken, a historic bitcoin exchange recognized for its reliability and security, announces that it will offer an interest rate between 5 and 17% for Ethereum staking on its platform.
The company already offers Polkadot staking on its site with an interest rate of 12%!
Regarding Ethereum staking on Kraken, interest payments will be made every week, the company indicates.
How does Ethereum staking work on Kraken?
People who will be staking Ethereum on Kraken will earn ETH2 tokens.
ETH2: The symbol “ETH2” will represent Ethereum tokens received as Ethereum 2.0 staking rewards.
ETH2 cannot be deposited, withdrawn or exchanged.
Kraken recalls that ETH 2.0 staking is long-term staking because the migration from the Ethereum blockchain to ETH 2.0 Phase 1 will take a long time.
In order to remedy this delay, Kraken will offer its customers the ability to withdraw ETH2 tokens in the form of another token equivalent to ETH, ETH2.S.
ETH2.S: The symbol “ETH2.S” will represent Ethereum tokens staked on Ethereum 2.0.
ETH2.S cannot be deposited or withdrawn.
ETH2.S can be exchanged for ETH, this market will not be available to residents or citizens of the United States and Canada.
Kraken users will therefore be able to convert their tokens earned with Ethereum staking into ETH tokens.
Cryptocurrency staking is increasingly popular and allows you to generate passive income by simply making your tokens available on these staking platforms.
Crypto exchanges are therefore starting to offer their customers the option of staking Ethereum, a cryptocurrency that enjoys a serious and safe reputation as an investment.
To do Ethereum staking on Kraken, all you need to do is open a free account on the platform: click here.