Tezos Staking on the next Exchange
Bitcoin Suisse, one of the largest companies in the Swiss Crypto Valley, is adding Tezos Staking to its system. In a recently published blog post, Bitcoin Suisse announced that investors can now stake XTZ.
What is staking?
In crypto space, staking is a process by which users can support a crypto network by storing coins. To do this, users store their coin stocks on a wallet and thus achieve a return on investment. In contrast to the Proof of Work, the Proof of Stake is based on a proof of share. Experts see the Proof of Stake mechanism as having the advantage of higher energy efficiency. In the past, the high waste of energy with the Proof of Work mechanism was repeatedly criticized.
Annual return with Tezos-Staking
Users who store their XTZ on Bitcoin Suisse can expect an annual return. It is not yet clear how high this return will be. In recent months, well-known exchanges such as Binance and Coinbase have also implemented XTZ-staking. On Coinbase, investors receive an annual interest rate of approximately 5 percent. On Binance, this should be between 6-7 %. Staking programmes are popular systems that allow investors to increase their coin holdings. Tezos transfers the bonus coins to the participating exchanges at regular intervals. From there the coins are distributed to the qualified users.
In a statement, Bitcoin Suisse gives the following reasons for its decision: “Bitcoin Suisse offers the first all-in-one baking solution for Tezzies (XTZ). With our service, you do not have to invest resources in setting up a wallet, finding dedicated hardware, and running and maintaining the setup needed for the process. We will handle everything for you, and you will be able to receive and monitor your rewards coming into the Bitcoin Suisse trading platform. New XTZ are introduced on the network when XTZ holders bake and perform endorsements, meaning that the supply of XTZ increases continuously. The current token supply grows by approximately 5% per year.“.
Tezos course in detail
With a price of 2.74 and a market capitalization of approximately USD 1.9 billion, Tezos continues to rank 10th in the crypto charts. In the past, Tezos has repeatedly attracted attention with minor price outbreaks. After the halving, however, the alternative assets have so far remained subdued. This is illustrated by a BTC Dominance Index of 65.9 %.