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Bitfinex has joined the staking bandwagon offering its users the opportunity to start earning rewards for holding EOS, V.Systems, and Cosmos (ATOM).
Tezos (XTZ) is expected to debut on its staking platform on 11th May. Other tokens such as Algorand (ALGO) and Tron (TRX) are expected to follow as well.
How do annualized rewards at Bitfinex compare with other staking providers?
That’s a good question. Using the Bitfinex online calculator, we were able to obtain an estimated annual staking yield for each of the assets that are currently available for staking on Bitfinex.
The staking yield for EOS on Bitfinex ranges between 0% – 3%.
If you stake EOS through Bitfinex right now you would achieve an estimated annualized yield equivalent to 1%. Annualized yields change on a daily basis (ranging between 0% and 3%, as stated above, so make sure you check the Bitfinex website first before making any decision). That annualized staking yield for EOS currently compares with an estimated annual staking reward of 0.72% on KuCoin and a 2% yield on Hashquark.
The staking yield for Cosmos (ATOM) on Bitfinex ranges between 1.5% – 3%.
Staking Cosmos (ATOM) through Bitfinex right now achieves an estimated annualized staking yield equivalent to 2%. That is higher than the 1.59% annual yield that is currently attainable for ATOM staking through KuCoin although much lower than the 7.5% annual yield achievable on HashQuark. Through Binance it is possible to achieve an even higher annual ATOM staking yield of 6%-9%.
Bitfinex offers one of the highest annualized staking yields for V.Systems, with users able to earn between 8%-10%. KuCoin also offers staking on V.Systems, with an estimated annual yield of 8.09% currently.
Looking to compare staking coin yields and their providers? Check out our top list to find the best staking coins.
What are the main staking terms like on Bitfinex?
Very reasonable actually. Staking on Bitfinex is free and there are no minimum staking requirements to begin earning your rewards. There are also no lockup periods, which means you may withdraw at any time!
If you don’t have an account already, then you will need to subscribe and deposit funds to your Bitfinex account. Then you will need to pick any of the above tokens to hold. It is a very simple and passive process!
Staking rewards on Bitfinex are paid out weekly.
If you are new to staking and want to learn more then have a read through our free guide.