With 3 million users, Bitpanda is increasing the pace of its march towards the democratization of crypto-currencies. The platform is therefore launching its Bitpanda Staking offering for investors to generate passive income with 11 crypto-assets.
New staking offer on Bitpanda platform
Bitpanda has always had the ambition to make it easier for users to access cryptocurrency. Being attentive to its community, the platform decided to give access to staking to its 3 million users.
This feature, which was the most requested by Internet users, is now available on the Bitpanda app and website.
“But Bitpanda, you always say it’s coming soon, when is soon?”
Soon is now. pic.twitter.com/DJkt1j5GuA
– Bitpanda (@bitpanda) May 10, 2022
Bitpanda users can now earn passive income with an annual percentage rate of up to 27%. To promote its new offer, the platform is also offering to double the rewards of this staking until 7 June 2022.
The benefits will be distributed to users on a weekly basis. This allocation is done independently of how the blockchains behind these assets usually allocate their rewards.
The weekly earnings generated on Bitpanda will also be automatically fed back into the staking to increase the users’ earnings. Handy if you don’t want to have to open the app every week to reinvest your earnings.
Simplified access to staking of 11 cryptocurrencies
For the opening of this offer, Bitpanda provides access to staking of 11 cryptocurrencies, including SOL, DOT, TRX or ATOM. The platform plans to add more assets eligible for staking during the year.
Staking is not exclusive to the Austrian platform, but Bitpanda is unique in that there is no lock-in period. Thus, investors who stake their funds have full access to withdraw them whenever they wish.
It is also worth noting that there is no waiting period, which means that income can be received from the very first week.
The desire to facilitate access to cryptocurrency and its mechanisms was supported by Eric Demuth, CEO and co-founder of Bitpanda:
“As a company thought to simplify cryptocurrency investing, we are excited to make staking what it should be: simple, straightforward and hassle-free. “
The platform’s introductory offer and ease of use could thus be a gateway for all new users wishing to start staking, or the more seasoned ones wanting to migrate to a less burdensome investment method.
