WazirX has allowed everyone to participate in staking by depositing and holding a certain number of tokens on its platform. Staking is similar to earning interests on bank deposits. Currently, the platform is live with TRON (TRX) and Tezos (XTZ) and enables users having at least 500 TRX and 3 XTZ respectively to stake their tokens.
WazirX will gradually expand its support to other cryptocurrencies as well and include Harmony (ONE), Swipe (SXP), and Cosmos (ATOM), alongside others. Traditionally, staking required the transfer of funds, a second wallet, and a procedure where you risk losing your tokens too. With in-exchange Staking, WazirX makes sure its users don’t even have to lift a finger. In fact, their tokens are not even locked. They can trade and when their funds are idle, they get staking rewards. This is the best of both worlds.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.