Chennai, September 06, 2022: Keeping with the stated aim of aiding crypto adoption and wealth creation in India, Giottus has introduced Staking, a feature that helps investors earn with their crypto assets such as Cardano (ADA), Polygon (MATIC), Solana (SOL), and Tron (TRX). Currently, the estimated annual percentage yield (APY) on these assets is between 6% and 10%.
Following the successful introduction of FD, Baskets, and SIPs, Giottus customers can now make passive income on their favourite tokens with Staking. All registered customers of Giottus with the above-said assets can start staking immediately or do so by purchasing coins. Ethereum (ETH) is expected to be added to the feature once the Merge is successful this month.
Staking cryptocurrencies is a method that involves engaging crypto assets to support a Proof-of-Stake (PoS) blockchain network and confirm transactions. Protocols like Bitcoin, allow miners to earn rewards for creating blocks. Miners employ specialised hardware that does heavy computing to race towards the solution and claim reward. This is termed as Proof-of-Work (PoW). On the other hand, PoS allows Stakers to claim the rewards for creating blocks. In simple terms, staking is a way of having passive crypto assets earn rewards.
FD and Staking are both methods of passive investment. FD involves generating yield through DeFi lending and comes with a guaranteed interest. Staking allows risk-free earning, but it is possible only on select protocols that use the PoS mechanism. Staking does not come with guaranteed interest as the yield is distributed among all stakers. Actual rewards will be based on the number of participants in Staking.
Investors are requested to approach Giottus’ 24×7 customer service team for further clarifications on the product.
Corporate Comm India (CCI Newswire)
