Wednesday, November 30, 2022
HomeCrypto NewsExchangesGemini Launches Ethereum Staking

Gemini Launches Ethereum Staking

- Advertisement -
Follow-Us-On-Google-News

Crypto exchange Gemini plans to introduce ETH staking services on its platform this week.


Users Who Get In Before October To Enjoy Feeless Staking.

Ethereum’s transition from the PoW (Proof-of-Work) to PoS (Proof-of-Stake) system has been the talk in crypto circles for months. Now that it has finally happened, things seem to be looking up for the second largest coin in the market. Besides becoming more appealing to the many environmentally-conscious investors after ditching the energy-intensive PoW system, Ethereum is meant to undergo a few more upgrades in the future.

Now, one of the popular crypto exchanges is planning to launch Ethereum staking on its platform. Gemini crypto exchange announced its plans in a tweet and a blog post on its official website. According to the posts, ETH staking on Gemini will commence on September 20th, 2022.

 

Zero-Fee Staking For Early Stakers

Besides giving its users the chance to stake Ethereum, the Gemini exchange is also throwing in some freebies. Users who start ETH staking on the exchange between September 29th (the day of launch) and the end of October will enjoy zero-fee staking. This means that they get 15% more rewards on their staking.

 

Which Users Are Eligible For ETH Staking On Gemini?

While Gemini has announced these plans, Ethereum staking on the platform during the initial period will only be available to users in select regions. These include the US (except New York), Hong Kong, Australia, Brazil, Singapore, and 30 other areas. The full list of the regions covered can be accessed here.

Ethereum is not the first crypto to be availed for staking on Gemini. Back in August, MATIC was added, and the process was quick. The same is expected to happen to ETH as the exchange expands its product base.

Basically, Ethereum staking on Gemini means more users and more demand for the coin. This could potentially translate into more adoption. At the moment, ETH is valued at around $1,324, with a 24-hour increase of 1.3%. Meanwhile, 150,000 Ethereum were Deposited In ETH Contract Following Merge.

- Advertisement -
Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.