The eToro trading platform has announced a staking service for clients. Now, users can earn staking rewards monthly. On the 1st of October, the company said that users who hold positions in Cardano (ADA) and Tron (TRX) would be eligible for the staking rewards. Other digital assets will be included in the future.
Users are not required to take any action except their usual trading. Then, the system automatically calculates the rewards based on snapshots taken every day at 00:00 GMT. At the end of the month, the automated system sums and distributes each user’s reward.
In addition, an initial “intro period” is required from users to become eligible for the rewards. If a user changes position during the month, the staking reward also changes. Also, users must hold either ADA or TRX for a particular period before they can access rewards.
Notably, the period of time required to hold either of the assets varies. For Cardano, users must hold ADA for nine days before their rewards can accumulate.
Speaking to Cointelegraph, an eToro spokesperson said:
“Clients staking on eToro benefit from doing so on a regulated and globally trusted platform. We also believe staking rewards on our platforms are among the most generous in the market, from a minimum of 75% of the staking yield.”