TRON staking has emerged as perhaps the best way for the asset’s investors to earn passive income on their holdings. Essentially, holders lock their TRON tokens – TRX – on the blockchain, with the assets helping its proof of stake (PoS) functionality. Participants who stake their digital assets will also get more tokens when they are minted.
TRON uses a delegated PoS mechanism. This means that holders can delegate their assets and earn more in return. But, they are obligated to mint new blocks to maintain the blockchain’s functionality. With TRON staking becoming more popular, several platforms have opened their doors and are now offering their services. Below, we’ll look into the top three staking platforms for earning returns on TRON.
eToro is arguably the most popular stock trading app in the world. But, it is also notable for its focus on crypto, and it is now doing impressive work with TRON staking as well, thanks to its staking-as-a-service offering.
Known as eToro Staking, this service allows you to lock your TRON coins to secure the network in exchange for rewards. Customers who stake with eToro get their payouts deposited in their wallets monthly. eToro staking currently supports crypto staking in Ether (ETH), Cardano (ADA), and TRON (TRX). Tron’s TRX is one of the popular cryptocurrency staked with over $2.4billion locked in value, per data from StakingRewards.
eToro staking offers investors rewards that ranges from 75-90% of the monthly TRX yields. TRX has a seven staking intro days before rewards are calculated. The platform pays a reward percentage of the monthly yield of your TRON holdings based on the tier system of their membership club. eToro provides staking investors with a daily snapshot of their holdings, while rewards are deposited at the end of every month in TRX.
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While eToro focuses on a much broader range of assets, Binance is the go-to option for crypto investors. It is the most popular crypto exchange in the world, and it has maintained that position by supporting multiple services in the crypto industry.
Binance began supporting TRON staking in 2020. Since then, it has become one of the top sources for the service. Binance offers several benefits, including regulatory clarity and high standing in the industry. It’s worth noting that staking on Binance is usually on a first-come-first-serve basis. Users can stake as much as 10 million TRX tokens, and you will need to get in when space opens in the staking pool. Given that Binance is very popular, you will need to be very fast before space runs out.
Staking rewards on Binance will depend on several factors, including the number of coins you’re staking and how long you’re keeping the coins on the platform. The holding period on Binance’s TRON staking service is 7 days as well, so you will need to wait until the 8th day before you start getting your rewards.
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Poloniex is another top crypto exchange. Based in the United States, the exchange handles billions in trading volumes daily and also provides an opportunity for investors to stake their coins. TRON staking on Poloniex went live as far back as 2019. Poloniex prides itself on fee-free trading, meaning that customers get all their staking rewards. Another major benefit of staking TRX on Poloniex is the absence of a lockup period. So, you get to control your staked TRX tokens as you see fit. You can withdraw, trade, and deposit tokens whenever you like, and you will get your rewards as long as your TRX remains in your Poloniex wallet.
Poloniex takes snapshots of your wallet automatically at 00:00, 06:00, 12:00, and 18:00 (UTC). The service calculates your rewards based on the coins in your wallet at these times. Rewards are paid out every other week. As long as your account isn’t frozen or closed and you live in a jurisdiction where Poloniex operates, you will be able to get your rewards.
However, you need to stake a minimum of at least 100 TRX to get started on Poloniex.
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