BitFlyer Announces ETH Staking Service
Japanese cryptocurrency exchange BitFlyer revealed plans to offer an Ethereum (ETH) staking service via its official X account on December 27, 2024.
According to the announcement:
- The service is slated for launch in early 2025.
- Details such as interest rates and participation methods remain undisclosed.
This follows BitFlyer’s recent introduction of a "Coin Lending" service on December 4, allowing users to earn passive income by lending crypto assets.
Industry Context
- Zaif, another Japanese exchange, announced a Bitcoin staking initiative on December 25.
- Mercoin (a subsidiary of Mercari) began offering ETH staking on December 18, alongside a feature granting monthly points to ETH holders.
What Is Staking?
Staking involves "validators" locking a specific amount of crypto to participate in block validation and earn rewards. Exchanges pool user funds to simplify participation, enabling smaller investors to join.
Key Points:
- Only works with Proof-of-Stake (PoS) blockchains like Ethereum.
- Rewards are distributed proportionally to staked amounts.
"Our ETH staking service will launch in early 2025. Stay tuned for updates!"
— BitFlyer (@bitFlyer)
FAQs
1. When will BitFlyer’s ETH staking go live?
The service is expected in early 2025.
2. What are the benefits of staking ETH?
Stakers earn passive income through network rewards without active trading.
3. How does staking differ from mining?
Staking uses PoS, which is energy-efficient compared to PoW mining.
Keywords
- Ethereum staking
- BitFlyer
- Cryptocurrency exchange
- Proof-of-Stake
- Passive income
👉 Explore crypto staking opportunities
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