- eToro users can now stake Solana (SOL) and Ethereum (ETH) holdings
- Users who opt in can earn between 45% and 90% of the staking yield in rewards based on their eToro Club tier.
Wednesday 31 July, 2024: Trading and investing platform eToro announces today that it has launched staking on Solana (SOL) and Ethereum (ETH), enabling users to earn rewards in return for opting in.
“Staking is essential to blockchains that use a proof-of-stake consensus mechanism, such as Solana and Ethereum, as it helps validate and secure transactions without a payment processor. For investors, staking their cryptoassets can bring the extra benefit of token rewards,” says Adi Lasker Gattegno, Director of Crypto Desk at eToro.
“We’re excited to be expanding our staking programme. We execute the entire staking procedure on users’ behalf to protect them from the risks and complications of staking on their own, making the process simple, secure and hassle-free.”
Eligible users are now able to stake Solana (SOL) and Ethereum (ETH), in addition to Cardano (ADA) and Tron (TRX). 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.
eToro retains a percentage of the yield as a fee to cover the various operational, technical, and legal costs involved. More details on intro days and reward percentages can be found here.
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.
By opening a SOL position users are automatically opted into staking, while to stake ETH users need to actively opt into the programme. 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 programme at any time.
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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 only available for Cardano (ADA), Solana (SOL), and Ethereum (ETH). Users in the UAE and Australia will be able to stake Solana (SOL) from 1 August 2024.
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.
CySEC:
Rest of EU: Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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.
France:
Cryptoassets investing and custody are offered by eToro (Europe) Ltd as a digital asset service provider, registered with the AMF. Cryptoasset investing is highly volatile. No consumer protection. Tax on profits may apply.
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Europe
eToro (Europe) Ltd, is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under licence number 109/10. Registered in Cyprus under Company No. HE 200585.