eToro has announced the launch of staking for NEAR Protocol (NEAR) and Polygon (POL). According to the firm, this addition expands its staking offering, which already includes Solana (SOL), Ethereum (ETH), Cardano (ADA), and Tron (TRX).

eToro Adds Automatic Staking Feature

Adi Lasker Gattegno, Director of Crypto Desk at eToro, Source: LinkedIn

Staking involves locking cryptoassets to support blockchain operations, such as transaction validation. Users who stake receive rewards as compensation for their participation. This feature allows users to earn additional cryptoassets while contributing to the network's security.

Eligible eToro users can now stake NEAR and POL by holding open positions in these assets. The staking process is automatic, and participants receive monthly updates detailing their rewards and the calculation methodology. Users can opt out of the program at any time.

“As interest in digital assets surges again, we’re committed to offering our users more ways to grow their portfolio and participate in the evolving blockchain ecosystem,” said Adi Lasker Gattegno, Director of Crypto Desk at eToro.

“Building on the success of our ETH and SOL staking launch in July, we are excited to expand our staking programme to include NEAR and POL. Eligible users will be able to stake these assets in a simple and secure way.”

Staking Excludes CFDs and Short Trades

Reward percentages vary between 45% and 90% of the staking yield, depending on the user’s eToro Club tier. A portion of the yield is retained by eToro to cover operational and compliance-related expenses.

Staking eligibility requires users to reside in permitted jurisdictions and meet a minimum holding period for the staked assets. Positions involving CFDs, CopyTrader, Smart Portfolios, or short trades are not eligible.

In July, Finance Magnates reported that eToro had announced the launch of staking services for Solana (SOL) and Ethereum (ETH).

eToro Gains New York License

Meanwhile, eToro has obtained a license to offer its services in New York. In an interview on the NYSE LinkedIn page, eToro’s Founder and CEO, Yoni Assia, discussed the significance of this approval for the company's regional expansion.

Assia also mentioned eToro's interest in AI, particularly its ability to help users analyze investment companies and summarize financial reports for fundamental analysis. eToro currently has 37 million registered users across 75 countries.