On Wednesday, Kraken, a US-based cryptocurrency exchange , 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 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.