- eToro users can now stake NEAR Protocol (NEAR) and Polygon (POL) holdings
- Users can earn between 45% and 90% of the staking yield in rewards based on their eToro Club tier
Tuesday 3 December, 2024: Trading and investing platform eToro announces today that it has launched staking for NEAR Protocol (NEAR) and Polygon (POL), enabling users to earn rewards simply by holding these assets.
Eligible users are now able to stake NEAR Protocol (NEAR) and Polygon (POL), in addition to Solana (SOL), Ethereum (ETH), Cardano (ADA) and Tron (TRX). Staking allows investors to put their cryptoassets to work by locking them up to support a blockchain network’s operations, such as validating transactions. In return, the staker earns rewards, making it a way to grow their cryptoasset holdings while helping secure the network.
“The recent crypto market rally has boosted enthusiasm for blockchain innovation, with Bitcoin setting fresh all-time highs and many altcoins rising too. As interest in digital assets surges again, we’re committed to offering our users more ways to grow their portfolio and participate in the evolving blockchain ecosystem,” says Adi Lasker Gattegno, Director of Crypto Desk at eToro.
“Building on the success of our ETH and SOL staking launch in July, we are excited to expand our staking programme to include NEAR and POL. Eligible users will be able to stake these assets in a simple and secure way.”
By opening a NEAR or POL position, users are automatically opted into staking. All eligible users staking their cryptoassets will receive monthly email updates explaining how much they earned in staking rewards and how it was calculated. Users can opt out of the staking programme at any time.
Users can earn between 45% to 90% of the staking yield depending on their eToro Club tier. eToro retains a percentage of the yield as a fee to cover the various operational, technical, and legal costs involved to make the staking procedure secure and efficient. More details on intro days and reward percentages can be found here.
To be eligible for staking rewards, users must reside in a country where staking is permitted and have held an open position of the staked cryptoasset for a set number of ‘intro days’. Positions held using CFDs, CopyTrader™, Smart Portfolios or short positions are not eligible.
Users should note that crypto staking comes with possible risks as well as rewards. During the lockup period, assets have limited or no liquidity and their price may rise or fall. In the event that the blockchain validator violates protocol rules, the network protocol can confiscate or ‘slash’ the staked assets.
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Notes to editors
Staking is not available for eToro users based in Germany or the US, and UK users who registered with eToro on or after February 8, 2022. For eToro users in the UAE, staking is not available for Tron (TRX).
More information on staking is available in the terms and conditions.
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Disclaimers:
Crypto staking can be risky due to volatility, network risks, slashing risks, inflation risks, regulatory risks, and lack of control over staked tokens, which may result in financial losses.
This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient’s investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.
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Crypto staking can be risky due to volatility, network risks, slashing risks, inflation risks, regulatory risks, and lack of control over staked tokens, which may result in financial losses. For more information on staking please refer to this link.
Spain: Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost. It is important to read and understand the risks of this investment, which are explained in detail at this link.
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Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.
FCA:
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Crypto staking can be risky due to volatility, network risks, slashing risks, inflation risks, regulatory risks, and lack of control over staked tokens, which may result in financial losses.
ADGM:
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
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