eToro Introduces Crypto Staking: Earn Rewards By Holding Crypto


eToro has brought in crypto staking, enabling users to earn potential rewards by holding supported digital assets.
Key Takeaways
- eToro now offers staking for supported cryptocurrencies, allowing users to earn passive income.
- Most digital assets are staked automatically, except for Ethereum (ETH), which requires opt-in.
- Users can opt-out via account settings anytime (Settings > Trading > Crypto Staking Program > Toggle Staking OFF).
- Staking rewards may have tax implications, so you may want to consult a tax advisor before participating.
Don’t invest unless you’re prepared to lose all the money you invest.
What Is Crypto Staking?
Crypto staking is a process where you hold specific cryptocurrencies in your wallets to support blockchain network operations.
In return, you can receive staking rewards, similar to earning interest on savings.
Staking can be an attractive way to generate passive income, but it comes with risks, such as market volatility and potential penalties for early withdrawals.
About eToro
eToro is a leading global trading platform, excelling for its user-friendly interface and social trading features.
It offers a diverse range of financial instruments, including stocks, crypto, forex, CFD, and its own Smart Portfolios.
The brokerage is well-regulated, including by the FCA in the UK, ASIC in Australia, and CySEC in Cyprus.
eToro’s latest addition of staking services further enhances its aim to provide a comprehensive trading experience.
New traders can get started with a $50 minimum deposit.
