This exciting development allows customers to grow their digital assets with ease.
Set to launch this week, the staking feature will grant users the opportunity to earn a passive income on their digital assets during its “soft testing” phase.
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At the moment, yields can soar from a modest 2.99% to an impressive 11.65%.
Keep in mind these returns are subject to change and not guaranteed.
What is staking?
Staking is when you lock away a portion of a certain digital asset in your wallet for a predetermined amount of time, typically ranging from mere days to several months.
In doing so, you play a crucial role in validating transactions and fortifying the proof-of-stake for the blockchain. Moreover, an investor receives rewards, typically with freshly minted coins or a slice of the transaction fees pie.
Revolut stands among 38 other companies that have been given the green light to revolutionize the UK and EEA with its crypto and blockchain offerings.