Neo bank Revolut to offer crypto staking to its customers in the UK and EEA
Revolut is making an effort to educate its customers about crypto and blockchain by offering free "Learn & Earn" courses on these subjects
Image: Revolut
Revolut, a neo-banking platform with 25 million customers worldwide based in the United Kingdom, is offering the opportunity for its customers in the UK and the European Economic Area to earn income from their crypto holdings through a new staking feature.
The feature is set to become available this week and will undergo a soft testing phase.
Currently, the staking feature provided by Revolut supports the crypto DOT, XTX, ADA, and Ether. The expected returns from staking these assets range from 2.99 percent to 11.65 percent, but these yields are subject to change and are not guaranteed.
Staking in the world of crypto involves an individual keeping a certain amount of a specific digital currency in their wallet for a set period of time, usually ranging from a few days to several months.
This process contributes to the security of the network by verifying transactions on a proof-of-stake blockchain. As a reward, the individual receives newly created coins or a part of the transaction fees.
