Kraken has announced that it will enable staking on ETH 2.0 for its users.
Although validators need 32 ETHs to run a node, Kraken users will be able to bet any amount of ETHs on the exchange.
This creates the possibility for ETH holders Bitcoin Rejoin to start earning passive income.
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Kraken, the online cryptographic currency exchange, announced that it allows its users to stagger ETHs via the ETH 2.0 Beacon Chain directly on the platform.
As far as the major cryptomechanical exchanges are concerned, Kraken seems to be one of the first to announce the opportunity for its users.
At the time of publication of this article, Kraken had recently activated the staking capability, marking a major milestone in the continued growth of ETH 2.0.
A victory for ETH’s „small“ carrier
Kraken will enable ETH users of all sizes to delegate their ETH for staking. With the launch of ETH 2.0 and the adoption of a Proof-of-Stake transaction verification methodology, only users with a minimum of 32 ETHs would be able to run a node, allowing them to validate the network.
Currently, 32 ETHs cost around $20,000, a significant sum for the average crypto enthusiast. Kraken will allow users holding any quantity of Ethereum to staker them via the platform.
This will allow users to earn passive income from their operations. Users will receive rewards ranging from 5% to 17% Average Percentage Return (APY) per year and will receive ETH rewards on a weekly basis.
Another feature that Kraken will add next week (but not for US or Canadian users) is the ability to trade a staked ETH against a non-staked ETH.
Once the ETH is staked on the ETH 2.0 network, this ETH cannot be viewed or traded until the next phase of the project. However, Kraken will soon allow a special trading pair to bypass this limitation:
As a courtesy to clients wishing to exchange their staked ETH for a non-staked ETH, Kraken will provide a special trading pair for this purpose until the possibility to remove the stake from the ETH is available on the Ethereum network.
This will probably give users more freedom on their guarantees compared to regular ETH 2.0 stakers who will not be able to take advantage of it if they independently manage an ETH node.
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