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Revolut goes crypto, offers staking to UK and European customers

Winnie Kimeu

Writer, News

Feb 7, 2023 at 08:08

Revolut, the UK-based neo-banking sensation with a global customer base of 25 million, has begun to offer crypto staking to its UK and European Economic Area (EEA) customers, as reported by AltFi.

This exciting development allows customers to grow their digital assets with ease.

Grow your digital assets. Source: Giphy
Grow your digital assets. Source: Giphy

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.

Investors of Polkadot’s DOT, Tezos’s XTZ, Cardano’s ADA, and Ether can experience high yields. 

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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 crypto staking
Revolut crypto staking

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. 

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