Fri. Sep 24th, 2021
Earn a 6% Return Staking XTZ, Available on Kraken December 13!

The famous Bitcoin Exchange Kraken announced Proof of Stake (POS) for Texos (XTZ) Hodler.

Key Advantages to Staking with Kraken:

  • Start earning rewards instantly, with no waiting or lockup periods
  • Enjoy one of the highest returns in the industry at a fixed rate of 6%
  • Payouts every Monday and Thursday
  • Stake your tokens in just three clicks from your Kraken Spot Wallet
  • You can quickly exit from your staking position by transferring tokens from your Staking Wallet back to your Spot Wallet

What is Proof of Stake (POS)?

Proof of Stake (POS) refers to a new mechanism for achieving consensus in blockchains that is more scalable and energy-efficient than traditional Proof of Work (POW) networks such as Bitcoin.

  • Token holders can earn rewards on their tokens, similar to mining, by posting them to the network.
  • This action gives them the right to add transactions to the network’s blockchain.
  • When they add a block to the network they receive the rewards as compensation.

Introducing our First Staked Token – Tezos

Tezos is an open-source POS blockchain that utilizes a native crypto asset (XTZ – a.k.a. a Tez or Tezzie) designed to provide secure, institutional-grade smart contracts that are robust enough to use in mission-critical environments (think: aerospace, nuclear, semiconductor industries).

  • Its functionality is similar to Ethereum and it supports a wide range of distributed applications, known as dapps.
  • A key differentiator is its modular architecture, which makes it easy to upgrade the network.
  • Individuals or companies that operate validators (or nodes) are compensated with XTZ in exchange for processing transactions on the network.
  • Kraken will earn a percentage of the network’s staking rewards based on the number of blocks its validator creates, and will distribute these earnings to staking clients per the agreed terms.
  • Clients that stake XTZ will receive a 6% return annually (rewards will be paid out every Monday and Thursday).

How Do I Start?

  • To start, you will need to have XTZ in your Kraken Spot Wallet.
  • XTZ can be purchased directly on Kraken, or transferred from elsewhere into your Kraken Spot Wallet.
  • To start earning rewards, simply transfer XTZ from your Kraken Spot Wallet to your new Kraken Staking Wallet. To do this, navigate to “Staking”, then under “Tezos (XTZ)” click “Stake.”
  • Once the XTZ hits your Staking Wallet, you start generating rewards instantly.
  • Clients that stake XTZ will receive a 6% return annually (rewards will be paid out every Monday and Thursday).

By BNA

5 thoughts on “Kraken: Earn a 6% Return Staking Texos (XTZ)”
  1. Thanks for the tip, this is pretty rad! With Binance recently announcing support for XTZ staking, things seem to be focused a lot on promoting staking as a core investment strategy for the blockchain and cryptocurrency sphere. With Silvergate’s ongoing crypto client list to grow, the latest addition being Kraken, things are pretty exciting.

  2. 6% sounds pretty good. Will give this a serious thought and will probably invest some funds into it. I’m not yet sure if it’s worth it or not, only time will tell, I guess. I won’t go in guns blazing but I don’t want to miss a potential opportunity either.

  3. My first time of hearing Kraken. After reading your article, I think I am fully conviced its something I want to try out. The ROI look juicy to me. After trading bitcoin for over 8 years now, this will surely be an addition to my portfolio

  4. I myself have never heard of Kraken either. But what I read above, it sounds amazing. Six percent is a good deal in my book. I do not have much in my portfolio right now, but I would love to add this!

  5. To me, this sounds pretty amazing. The advantages of it are high in my books. With the high 6% and payouts twice a week, this is something that I could gamble on.

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