Crypto.com has recently unveiled an exciting new feature aimed at crypto enthusiasts: exclusive staking services for the $STX token. According to the platform, users can now engage in on-chain staking for $STX directly through the mobile app. This announcement was made via an official post on their social media account.
$STX is now available for on-chain staking in the Crypto.com App! Start staking to support your favorite blockchain while earning rewards of up to 8% Enjoy the flexibility of unstaking your assets securely and conveniently. @Stacks pic.twitter.com/lewxN4emxs — Crypto.com (@cryptocom) September 23, 2024
### Crypto.com Introduces On-Chain Staking for $STX
In a recent update on X, Crypto.com highlighted this innovative feature, which allows users to earn rewards of nearly 8% by staking their $STX tokens. By doing so, participants can actively contribute to the decentralization and security of the Stacks blockchain, all while enjoying convenient asset management.
Stacks is a cutting-edge blockchain network that enables decentralized applications (dApps) and smart contracts to operate on top of the Bitcoin network, harnessing its decentralization and security. By staking $STX, users play a vital role in fortifying the Stacks blockchain, helping to maintain the network’s integrity while reaping substantial staking rewards.
### An Opportunity for Passive Income with 8% Annual Rewards
With the launch of this on-chain staking feature, Crypto.com allows users to stake $STX and earn an impressive 8% in annual rewards. Staking is essential for many blockchain functions, aiding in transaction validation and network security against malicious threats. Participants receive additional $STX tokens as a reward for their staking efforts.
For those looking to diversify their investment portfolio, this staking opportunity serves as a low-effort avenue for generating passive income. Crypto.com has made the staking process both accessible and straightforward for both seasoned investors and newcomers to the crypto space. Users can stake their $STX tokens whenever they choose and can also unstake their assets with ease.