CEX.IO Staking 2023: Is It Worth Trying? A Review
By Deya Hroob
CEX.IO staking is a great way to earn passive income while making an investment in crypto assets. Learn more about the process, rewards, and potential risks involved with CEX.IO staking, in this comprehensive review.
Overview of CEX.IO Staking 2023
CEX.io staking in 2023 is a convenient and relatively secure way to earn passive income from non-trading activities. Essentially, staking allows users to lock their crypto assets into the exchange platform's reserve, in return for rewards such as interest on the coins' value or access to select services. The amount of reward offered depends on several factors such as the coin type, amount held and duration of holding.
Does CEX Staking Provide Good Return on Investment?
Absolutely! One of the great things about CEX.IO staking is that you can earn rewards on your deposit without taking on additional risk. The platform offers an impressive yearly return rate of up to 50%, which can be increased significantly when compounded monthly.
How to Set Up a CEX.IO Account for Staking?
Setting up a CEX.io account for staking is a simple process. To get started, create an account and verify identity for KYC purposes by providing government-issued ID and proof of residence.Once your account is created and verified, make sure to turn on the Two-Factor Authentication feature for added security.
Then, deposit your funds into your wallet, which you can easily do by funding the account with a bank transfer or credit card purchase. You also can transfer your coins from other platforms into your CEX.IO wallet. Your staking reward will be added to your balance automatically. No additional actions are required.
Why is it better to stake on CEX.IO than anywhere else?
Usually,
other staking platforms lock up users’ funds for a certain timeframe
while staking. For ATOM, it’s a mandatory 21 days lockup. Some - lock
XTZ for 14 days.
With CEX.IO, you remain in full control of your crypto! You can trade and withdraw your funds at any moment, and you’ll keep getting rewards on your staked coins right up until the funds leave your CEX.IO balance.
O account.
Can I trade while staking?
Yes, you can trade your Proof of Stake coins. Your reward will be calculated as long as these coins sit in your CEX.IO account, even if you place an order. However, once your order is fulfilled, the amount of staked coins will change, and your rewards will change accordingly.
How does CEX.IO calculate and send rewards?
Rewards are calculated every hour and are sent to your account once a month. In the future, we’ll work on increasing the frequency of payouts. If you hold coins less than a month, your reward will still be calculated for the period you held the coins in question.
Frequently Asked Questions
1. Is CEX.IO Safe?
Yes. Your funds are safe with CEX.IO. The platform is secured by a high-grade online encryption system, industry standard authentication protocols and a framework that meets international security standards such as ISO/IEC 27001 certification. Additionally, they offer a multi-factor authentication to further protect your account from unauthorized access. Make sure to use this feature whenever possible to help keep your funds safe.
2. CEX.IO Fee
Your transaction fee is based on your 30-day volume for all pairs. You can read all the details here
3. CEX.IO Staking Calculator
You can calculate your staking earnings on CEX.IO here
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