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cryptocurrency

Bitfinex Cryptocurrency Exchange to Offer Staking Rewards Program – Blockchain News


Hong Kong-registered, British Virgin Island-domiciled Digital asset trading platform Bitfinex is getting ready to launch a new Staking Rewards Program on Tuesday, April 7, 2020, that will allow users to earn rewards obtain staking rewards as high as 10% per year by depositing and holding digital tokens on Bitfinex.

Bitfinex says the staked digital assets will be held safely, utilizing Bitfinex’s secure in-house custody solution. When Bitfinex stakes a digital token, it is delegated by the exchange, meaning that the tokens remain in the platform’s control, secured in the same manner as other tokens.

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“We’re committed to engaging our existing users and the wider community with new products and innovations,” said Paolo Ardoino, CTO at Bitfinex. “The Bitfinex Staking Rewards Program provides our users with another avenue to increase their holdings on our platform.”

“Bitfinex is leveraging its position as a one-stop-shop for crypto trading, offering a variety of services, including margin trading with up to 5x leverage. The exchange also offers users access to a perpetual swap contract offering 100x leverage through its affiliate, iFinex Financial Technologies Limited.”

Founded in 2012, Bitfinex is a digital asset trading platform offers access to peer-to-peer financing, an OTC market and financed trading for a wide selection of digital assets.

Bitfinex has been a source of controversy in the past and reportedly had a net profit of $404 million in 2018 and today has a market cap of over $135 million.

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