Key Insights
- eToro launches staking services for Solana (SOL) and Ethereum (ETH), expanding its existing offerings of Cardano and Tron.
- Eligible users can earn rewards through staking, with eToro managing the process to simplify and secure the experience for customers.
LONDON (MarketsXplora) – Online broker eToro has expanded its cryptocurrency offerings by launching staking services for Solana (SOL) and Ethereum (ETH), allowing users to earn rewards on their holdings, the company announced on Wednesday.
The move adds to eToro’s existing staking options for Cardano (ADA) and Tron (TRX), broadening the platform’s cryptocurrency services amid growing interest in proof-of-stake blockchains.
Adi Lasker Gattegno, Director of Crypto Desk at eToro, emphasized the importance of staking in validating and securing transactions on proof-of-stake blockchains, highlighting the potential for investors to earn additional token rewards.
“We’re excited to be expanding our staking programme,” Gattegno said. “We execute the entire staking procedure on users’ behalf to protect them from the risks and complications of staking on their own, making the process simple, secure and hassle-free.”
To be eligible for staking rewards, users must reside in countries where staking is permitted and hold an open position of the staked cryptoasset for a predetermined number of “intro days”. The company noted that positions held using CFDs, CopyTrader™, Smart Portfolios, or short positions are not eligible for staking.
eToro will retain a percentage of the yield as a fee to cover operational, technical, and legal costs associated with the service.
The broker also cautioned users about potential risks involved in crypto staking, including limited liquidity during lockup periods and the possibility of price fluctuations. Additionally, users were warned about the risk of asset confiscation or “slashing” by the network protocol if blockchain validators violate protocol rules.
While Solana positions are automatically opted into staking, Ethereum holders need to actively opt into the programme. eToro plans to provide monthly email updates to eligible users detailing their staking rewards and calculations.
The company stressed that users can opt out of the staking programme at any time, offering flexibility to its customers.
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