Crypto.com has recently announced another reason to excite crypto enthusiasts with its exclusive staking services for $STX. As per Crypto.com, the platform has commenced the on-chain staking for the $STX token via the mobile app. The platform took to its official social media account to provide the details of this endeavor.

Crypto.com Unveils On-Chain Staking for $STX

In its latest X post, Crypto.com noted that this unique feature permits consumers to get rewards of nearly 8%. They can earn these rewards by staking the $STX coins in their possession. In this way, they can contribute to the decentralization and security of the blockchain Stacks. Simultaneously, they can enjoy convenient and flexible asset management.

Stacks reportedly operates as a new blockchain network enabling dApps and smart contracts to work on the Bitcoin network’s top. It leverages the decentralization and security of the Bitcoin network. Users who stake $STX can actively take part in securing the blockchain of Stacks. They can assist in maintaining the integrity of the network while leveraging substantial staking rewards.

The Initiative Provides 8% Yearly Rewards and a New Opportunity for Passive Income

With the latest on-chain staking facility, Crypto.com lets consumers stake $STX and obtain 8% in yearly rewards. The process of staking plays a critical role in several blockchain operations. It assists in validating the transfers along with securing the network while confronting malicious actors. The users receive extra $STX tokens for staking assets.

Those pursuing to expand their portfolio can avail of this staking opportunity as a low-effort method for passive income. Crypto.com makes the process of staking accessible and simple for seasoned and new crypto investors. Now, clients can carry out staking with the latest $STX tokens whenever they require. Moreover, they can also unstake their assets without any hindrance.