February 1, 2023

Kraken exchange will add Tezos staking option at 6% per annum

Bitcoin exchange Kraken announced the upcoming support for Tezos cryptocurrency staking (XTZ). The option will become available in Friday December 13th.

According to the official announcement, in order to participate in XTZ staking, the user will need to transfer coins from his main exchange wallet to a special address.

After receiving confirmation that they are acceptedfor staking, the user will start earning rewards with an annual rate of 6% per year. Rewards will be credited to the same special address twice a week.

Earlier this month, Binance Exchange announced Tezos’s addition of staking, and an option was added to the Ledger Live app for Ledger hardware wallets.

The XTZ coin itself, meanwhile, is showing growth, rising to $ 1.53 at the time of publication (+ 8% per day and + 18% over the past week).