What is crypto staking in Etoro?

nihanef

I've been seeing these Etoro ads about staking on crypto but I have no idea what it is. Can anyone explain this to me please?

SSOB

By "staking" on supported cryptoassets on your eToro account, you can potentially earn rewards in the form of having more holdings. To make it simple to understand, think of it as having an interest which are paid out to you monthly as eToro does the staking for you. I suggest you click here if you want to know more about this service and sign-up if you find this interesting. Cheers

nihanef

Interesting. Thanks. Can staking be done on all the cryptos on the platform or is it only limited to specific coins?

SSOB

nihanef No, right now the only crypto that they support for staking is Cardano, Tron and Ethereum. Also take note that ETH 2.0 staking is available for specific countries only.

amara

It's also important to take note that staking is only applicable to real crypto assets. That means crypto CFDs are not included. Same goes for crypto positions that are copied (CopyTrader).

HowardN

Buy when everyone is eager to sell

reigel

HowardN To clarify, staking is not the same as buying or holding (also HODL). If you simply hold your crypto, the number of tokens or coins you have stays the same.

HowardN

Etoro is fairly well known. I don’t use it but I imagine several people here do. I have always been of the mindset to buy from exchange and immediately transfer to your wallet for safety reasons.

admin

What is it?
You earn a reward for holding a crypto asset. Your account needs to be allowed to own cryptocurrencies and this would depend on which regulation you are under. If your account only allows trading crypto CFDs then you won't be able to stake in cryoto.

What crypto assets can you stake?
Right now, you can stake on Cardano, Tron and Ethereum.

These details are based on the discussions above regarding eToro staking. If you want to get started on staking with eToro, you can click here.