Crypto exchange Bitstamp recently announced the launch of its Earn product in the United States.
For the “first” time, Bitstamp is offering its U.S. retail and institutional customers the ability “to participate in staking through its secure, regulated platform, earning up to 5% yield compared to an average of 0.05% with a traditional savings account.”
Retail customers are looking for opportunities “to grow their portfolios, especially in times of high inflation and low yields.”
Now, not only can people buy cryptocurrency with Bitstamp, they can “start earning significant staking rewards.
According to the recent Bitstamp Crypto Pulse survey, people are “more receptive to crypto as a long-term opportunity than ever: 80% of institutional investors and 54% of retail investors believe crypto will overtake traditional financial products within the next 10 years.”
Bobby Zagotta, CEO of Bitstamp USA, said:
“Inflation is up and your standard savings account earns you next to nothing, so we see a big opportunity to educate people about staking and to provide a secure, regulated, user-friendly way to do it. With the launch of Bitstamp Earn in the US, Bitstamp continues to meet the demands of investors and provide ways for them to smartly adapt to today’s economy.”
Bitstamp is one of only “a handful of exchanges to offer ETH staking in the U.S.
“The Merge” will soon mark “a major turning point for Ethereum, taking it from a Proof of Work blockchain to a more efficient Proof of Stake network.”
As such, Bitstamp users in the U.S. “can participate in securing the Ethereum network and earn staking rewards at competitive rates through Bitstamp’s secure and user-friendly infrastructure.”
Customers can also “participate in ALGO staking at 5% APY, tapping into the Algorand network’s eco-friendly pure Proof of Stake consensus mechanism.”
The share of ETH in Bitstamp’s assets under management globally “has risen 70% since January 2021.”
In the US, Bitsamp has “seen a trend towards more first-time buyers of ETH compared to BTC. As interest in Ethereum grows, the importance of staking grows as well.”
Globally, Bitstamp has “seen the highest staking adoption among clients in the 45-50 age range, who have more than 30% of their ETH staked.”
From June 2nd to July 2nd, 2022, users will “receive the following bonuses” if they hold assets for 30 days:
- Get $10 if you stake 0.1 ETH on Bitstamp.
- Get $50 if you stake 0.2 ETH on Bitstamp.
- Get $10 if you stake $100 ALGO on Bitstamp.
- Get $50 if you stake $500 ALGO on Bitstamp.
Note: this is open “to new and existing retail customers in the US (excluding retail customers in Alabama, Idaho, Hawaii, Louisiana, Nevada, New Jersey, and New York). Institutional investors and Bitstamp employees are not able to participate.”
In the coming months, Bitstamp plans “to roll out support for staking other digital currencies, while continuing to provide a safe, regulated way for people to participate in the crypto markets as inflation rises.”
To begin using Bitstamp Earn, check out: https://www.bitstamp.net/.
As noted in the update, Bitstamp claims to be “the world’s original and longest-running cryptocurrency exchange, supporting investors, traders, and leading financial institutions since 2011.”
With a “proven” track record, robust market infrastructure and dedication to personal customer service with a human touch, Bitstamp’s secure and reliable trading platform “is trusted by more than 4 million customers worldwide.”
Whether through its intuitive web platform and mobile app or APIs, Bitstamp is “where crypto enters finance.”
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