The Indian crypto community has something to cheer about as the news spread that CoinDCX gives the users a chance to make money by simply holding the digital tokens. The activity is known as staking. It is massive news for Indian users as CoinDCX is the largest cryptocurrency exchange in India, the staking product will allow people to hold the digital currencies in the wallets and earn returns from it. At first, the cryptocurrency exchange, CoinDCX, will support the staking of three digital assets, namely Harmony (ONE), Qtum (QTUM), and Tron (TRX). To continue with staking, a user should have 100 tokens of ONE, one token of QTUM, and five tokens of Tron. Any user who does not have this balance in their account will not be eligible for rewards and staking. The CEO of CoinDCX exchange has opined that users can earn an annual return of 5%, 6%, and 8% respectively for TRX, QTUM & ONE.
The exchange has already clarified that users will not be charged any fees or commission for the staking service offered by the cryptocurrency exchange. Although the exchange is only supporting the staking of three digital assets, many more cryptocurrencies will be added shortly.
It is to be noted here that CoinDCX has launched the service of Cryptocurrency staking through Binance, the largest cryptocurrency exchange in the world. So CoinDCX will pass on the staking rewards to ist users as soon as it gets the rewards from its partner, Binance exchange. Another good news awaits the Indian crypto community as WazirX cryptocurrency exchange, is planning to offer staking. It is expected that the exchange will launch the product towards the end of the month and will have Tron and EOS for staking.
Users may feel that the crypto jargons are too much to handle, in that case, they can bank on the DCX Learn platform that gives learning material, online courses, lectures, and free quizzes, so that users at all levels of knowledge – novice to advanced – can grasp the concept of staking quickly.