CEX.io Introduce Automatic Staking

CEX.io Introduce Automatic Staking

CEX.io are set to roll out a new staking feature that will help clients earn rewards and further blockchain and cryptocurrency projects automatically by holding PoS tokens. 

One of the biggest buzzwords of 2019 was definitely “staking”.  The process of storing tokens and placing them at “stake” in order to help validate nodes has become the go-to model for various modern tokens in a bid to move away from typical mining techniques.  

The popularity spread to exchange platforms and in the last 12 months, numerous leading outfits, such as Binance, KuCoin and Kraken, have rolled out systems by which users of their platforms can partake in easy staking and get rewarded for doing so.

CEX.io have clearly taken note of the phenomena, as they have decided to throw their hat into the ring and roll out their automatic staking feature which is up and running and will allow their own users to participate in the practice.

Indeed, CEX.io had already sown the seeds to enable staking on their platform via their choice of listed tokens over the course of 2019.  Tron (TRX) and two Ontology project tokens are examples of proof-of-stake tokens that were offered for trading at CEX. They are now ready to go the whole hog.

What Will CEX’s Staking Look Like?

However, before now, the staking of these tokens would take place off the exchange. This is set to change when their “vision of staking” which aims to provide a “unique and simple” form of staking comes into play. Although exactly how this vision will manifest itself remains ambiguous, the platform has detailed three principles of how staking on their platform is set to function.

The first of these is ensuring that the process of staking comes free from any technical hindrances. The main way they have ensured this is can be deciphered via the name “automatic staking”.  This is because you will not have to do anything other than posses “stake-able” coins in order to earn rewards which will be added automatically.

This means that there is no need to deal with new interfaces, additional steps, or the need to read lengthy guides. All the while, CEX.io have promised that they will still ensure the highest degree of security that is the norm of their platform.  This is just for starters for their staking vision.

A second unique CEX.io staking feature will be the possibility to trade the coins that are staked – something that is not usually possible at most other staking providers where you must lock the delegated tokens for the duration that they are staked. Instead, CEX.io will ensure that you have immediate access to these staked coins at all times. This means that if you wish to withdraw or trade staked coins, you can do so without hindrance.

In regards to this, the third feature of the CEX.io staking system is that staking rewards will be calculated for the exact time of your holding the token. This means that even if you do choose to move the tokens and place a limit order, their staking algorithm will still offer rewards on the token until your ownership of it has ended.

The exact launch schedule of CEX.io’s automatic staking though is not clear but it is certainly set for a 2020 launch. Although whether that is weeks or months has not been made clear. Naturally, we will keep our ear to the ground and keep you posted when the system formally goes live at CEX.io.

Recently Similar News

cex-promotion etoro-promotion

Latest Guides

Latest News

DeversiFi,Giveaway,Native Coin,Trading

DeversiFi Launch 1 Million NEC Trading Competition

DeversiFi have launched a Trading Competition where 1 million of their native token, NEC are available to be won. The news of the competition was announced yesterday and the timing coincided perfectly with other NEC related news today where the platform announced that their token has now become 100% community-owned. Described as “major milestone” in […]

27 January, 2020

EXMO Acquires Two New Licenses from Estonia Authorities.

EXMO has acquired two licenses from Estonia Authorities which they had previously made clear they would attempt to acquire. Back at the start of December, we reported the news that EXMO was planning to further legitimise their operations going into 2020, be more transparent, and explore areas of regulation available to them globally. Specifically, the […]

26 January, 2020
KuCoin,Margin Trading,Mobile,Updates

KuCoin Now Offers Margin Trading Support On Mobile App

A list of updates was unveiled by KuCoin on Friday for version V3.7.0 of their app which offers interesting new benefits available for mobile traders. The biggest news in regards to this was the addition to the mobile app of margin trading, which is one of the newest KuCoin products rolled out in the fourth […]

26 January, 2020
Binance,Binance Launchpad,India,Token Sale

Binance Reveal First Launchpad Project of 2020, WazirX

The first Binance Launchpad project of 2020 has been announced, WazirX. Binance Launchpad is the wing of the crypto platform by which they put their support behind innovative projects. Last year there were various projects of all shapes and sizes supported by this initiative and by working together with them they managed to raise their […]

25 January, 2020
BEST,BitPanda,Burn,Native Coin

BitPanda Announce Details of First Native Coin Burn

BitPanda yesterday announced the date for the first scheduled burn for their native token, BEST, and have hinted at some new features that will soon be implemented on the token. The news of this first burn has come as somewhat of a surprise because the date for the first token burn was previously earmarked for […]

24 January, 2020
CoolWallet,Native Coin,OKCoin,Wallets

CoolWallet S Now Supports OKB token

CoolWallet and exchange platform, OkCoin have teamed up, allowing OKB to be stored on the CoolWallet S and there is a commemorative product available to celebrate the new addition. Support for OkCoin’s native token has now been available on CoolWallet for a little over a week. And so, if you own a CoolWallet S then […]

23 January, 2020

CEX Latest Platform to List Cosmos (ATOM)

CEX have become the latest token to list the Cosmos network native token, Cosmo (ATOM). The blockchain describes itself as the “Internet of blockchains” and CEX have said it has been chosen due to a large number of requests from their traders asking for it to be listed. However, CEX are not the only party keen to get the token listed. […]

23 January, 2020

Algorand (ALGO) Is Now Live at Kraken

Kraken have added the latest token for trading to their expanding platform, Algorand (ALGO). News of the proof-of-stake blockchain’s token being listed on the platform broke yesterday. This has been promptly followed today with both deposits and withdrawals of ALGO going live for traders to indulge. Algorand itself is a blockchain that is still in […]

22 January, 2020