Bitfinex Launches Staking Rewards for Cardano (ADA)

ROAD TOWN, British Virgin Islands, October 5, 2020, 9:00 AM UTC – Bitfinex, a state-of-the-art digital tokens trading platform, has announced staking rewards for Cardano (ADA), the native token of Cardano, a decentralized platform offering a distinct approach to scaling and securing a blockchain network.

ADA joins a growing portfolio of tokens available for staking on the Bitfinex platform, which includes EOS (EOS), Cosmos (ATOM), v.systems (VSYS) and Tezos (XTZ). 

Designed to provide users with another avenue to increase the value of their holdings, staking will enable Bitfinex customers to earn rewards as high as 4.3%* per year by depositing and holding ADA tokens. 

“We’re delighted to announce that Bitfinex customers will now have the opportunity to start staking their ADA assets,” said Paolo Ardoino, CTO at Bitfinex. “Our ADA staking service builds on the success we’ve already had since first launching our staking program.”

The staked digital tokens will be held on the Bitfinex platform, utilizing the exchange’s in-house custody solution. When Bitfinex stakes a digital token, it is delegated by the exchange, meaning that the tokens remain in the platform’s control and are in the same manner as other tokens.

Bitfinex is leveraging its position as a one-stop-shop for crypto trading, offering a variety of services, including margin trading with up to 5x leverage.

About Bitfinex

Founded in 2012, Bitfinex is a digital asset trading platform offering state-of-the-art services for digital tokens traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital assets. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

 

Media Contact for Bitfinex

Joe Morgan

Senior Public Relations Manager

[email protected]

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Tech Junkie is a small word for Vikas Kaushik. Whether the latest game on the market or a new gadget launch he is the go-to person. He drives his motivation from the fast-paced technological advancements. He ensures that the right news reaches niche audiences. An avid biker and movie buff he has deep-rooted faith in upcoming technological inventions and is a torchbearer for the tech revolution.

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