Revolut Launches Staking of ETH, DOT, XTZ, & ADA for UK and EEA Users

The London-based neo-bank Revolut is launching crypto staking for customers in the United Kingdom and European Economic Area.

Man standing next to a computer and a stack of altcoins.
  • Revolut is rolling out crypto staking services for its 25 million customers this week.
  • According to reports, users can earn yields ranging from 2.99% to 11.65% on their assets.

Revolut, one of Europe’s leading neo-banking platforms, is introducing cryptocurrency staking to allow its users in the United Kingdom and the European Economic Area (EEA) to earn income on their crypto assets. 

Revolut Users to Begin Staking Crypto

Revolut, a popular neo-bank offering crypto trading since 2017, is preparing to launch a crypto staking option for its users. The London-based digital banking service provider has been expanding its crypto offerings over the years.

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According to reports, Revolut will launch its crypto-staking service for users in the UK and EEA sometime this week. The London-based bank currently has over 25 million customers, most of whom are residents of the UK and EEA regions. 

While the launch is only being revealed, Revolut has been working on the feature for a while now. A Revolut app user, Gordon Gekko, shared:

Revolut currently allows users to purchase over 100 different crypto assets. However, Polkadot (DOT), Tezos (XTZ), Cardano (ADA), and Ethereum (ETH) will be the first cryptos available for staking. 

Users could generate yields ranging from 2.99% up to 11.65% by staking their crypto on Revolut. Crypto staking involves lending your crypto for a certain period to help support the security of a blockchain network in return for rewards.

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The crypto community welcomed the launch, which encourages the continuous expansion of crypto services. Popular crypto trader @TradedogCrypto writes:

On the Flipside

  • Revolut is also expanding its banking services, offering Irish bank account details to customers in Ireland within the next few months.

Why You Should Care

Revolut continues to make crypto a core part of its growth strategy as it explores more ways to involve users in the use of digital assets.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia