When it comes to staking eligible cryptocurrencies, not all platforms are equal. The best way to evaluate potential earnings with your staked crypto assets is looking at a crypto ecosystem’s APY. APY stands for annual percentage yield.
Staking APY is similar to the APR, or annual percentage rate of traditional savings accounts. Instead, APY refers to the projected percentage rate of return to be earned over the course of a year. CEX.
IO helps customers by connecting them with proof of stake networks and staking on their behalf. Typically, the more you hold of the stake-able crypto, the greater the potential reward. Staking rewards can vary greatly between cryptocurrencies.
Each network sets its own rates, meaning one asset can have an 11% APY, and another asset offers 5% APY. The reward rate of staking can be influenced by many different factors including the performance of validator nodes, the rate new blocks are produced, number of stakers, and inflation/savings rates set by the protocol. With CEX.
IO Staking you earn accrued interest once a month. Then, if you continue to stake your crypto, you will earn interest on your initial invested amount, plus the interest that you earned last month. This process is favorable for long-term holders, and can continue to grow year over year.
When you log in to your CEX. IO account and go to the Earn page, you will see a complete list of all stackable assets on our platform. You will find an annualized return rate for each specific coin available for staking.
Another way to find out your preliminary earnings is to use a staking calculator. You can find it at the bottom of the Earn page. Fill in the amount of a specific coin, and you will get the exact returns on a daily, weekly, and yearly basis.
Where CEX. IO Staking differs from other ecosystems is in its flexible staking offering. Some protocols require assets to be locked up in order to stake.
Most staking providers will withhold their customers’ staked crypto so as to not affect their own liquidity. CEX. IO prides itself on giving customers the best service possible.
This is why no matter the cryptocurrencies being staked, there is no lockup period. With CEX. IO, you can trade and withdraw your stake-able coins at any time.
As long as these coins are in your CEX. IO account, you will earn staking rewards. If you would like to learn more about CEX.
IO Staking, or the APY rates of eligible cryptocurrencies, visit EARN. CEX. IO.
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