Kraken Launches Pro Mobile Staking Feature

On Wednesday, Kraken, a US-based cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term, announced that it had launched a staking feature through its mobile Pro app. According to a blog post, users can now stake and unstake while at the same time managing and tracking their rewards through the application.

After staking an asset in the Kraken Pro app, people are entitled to receive rewards each week, and the rewards will start compounding immediately, the company noted. Polkadot, Cardano, Solana, among other cryptocurrencies, can be staked through the Pro app. Kraken said the staking process in the app takes place in three steps.

The app is available in the App Store, Google Play for iOS and Android users. The exchange clarified that as of press time, it is not possible to unstake staked ETH or FLOWH.

“For most of our staking Staking Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Read this Term assets, you can choose to unstake anytime with no fees or lock-up periods. This means you can return your staked assets to your spot wallet anytime you choose,” Kraken noted.

Kraken's NFT Marketplace

Kraken’s official NFT marketplace opened its waitlist last month. Crypto traders using the new platform will not pay any blockchain network fees for the trading activity that takes place within the system, according to the company.

In addition, Kraken NFT will come with built-in tools for keeping track of the rarity scores of their NFTs and comparing them to others in the same collection. Additionally, sellers can list NFTs in USD, EUR, CAD, GBP, CHF, AUD or any of the 120 cryptocurrencies Kraken supports, and buyers can bid on NFTs using any of these currencies.

Those in the marketplace will have access to Creator Earnings, in order to reward artists and innovators creating NFTs by paying them a portion of the secondary market sale price. The waitlist for Kraken NFT will remain open until a fixed date is announced.