Robinhood Crypto introduced Ethereum (ETH) staking to its platform to make ETH staking accessible to European users. In a statement released today (Tuesday), the company mentioned that the new service also expands the options available to experienced crypto users.
The offering reportedly includes an exclusive, limited-time offer of 100% match on staking rewards for earnings up to €10,000. This followed the success of Solana (SOL) staking, which was launched on the platform earlier this year.
Staking for Rewards
Ethereum staking involves locking up ETH to help secure and operate the network, a process that earns users rewards over time. However, staking can feel daunting to new investors.
Robinhood addresses this by offering a simplifiedstaking experience where users can easily stake and unstake their assets. This customer-focused approach lowers the barrier to entry for Ethereum staking, making it accessible to a wider audience.
Commenting about the new offering, Johann Kerbrat, the GM & VP of Robinhood Crypto, said: "Robinhood’s platform is built with our customers at the center. Staking has been a highly requested feature but can also be intimidating to newcomers to crypto. We’ve simplified the staking process to ensure users can contribute to the security of the ETH network while also earning rewards efficiently. This offering underscores our commitment to empowering ETH holders."
Robinhood Crypto will mark the launch by offering a 100% earnings match for ETH staking rewards up to €10,000. According to the company, the bonus will apply to Solana staking and promises to provide investors with an opportunity to maximize returns.
This reward doubles the appeal for crypto holders looking to grow their investments while supporting blockchain networks likeEthereum and Solana, the firm noted. This month, Robinhood broadened its digital asset services for US users by integrating Solana, Pepe, Cardano, and XRP.
This latest move reportedly provides diverse investment options for fintech giant users amid demand for a wider range of cryptocurrencies.
Robinhood's Expanding Services in Europe
The update brought the total number of cryptocurrencies available on Robinhood to 19. Additionally, Robinhood Markets launched cryptocurrency transfers for its users in Europe, marking an important expansion of its services in the region.
The feature lets users deposit and withdraw two dozen digital assets, including Bitcoin, Ethereum, Solana, and USD Coin. According to recent reports, Robinhood could be planning to launch a stablecoin, although the company has yet to make an official announcement about this.
This article was written by Jared Kirui at www.financemagnates.com.
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