Big News from Kraken

So, mark your calendars, crypto enthusiasts! Kraken is now diving into the world of staked Tezos (XTZ). Effective December 13, the exchange is rolling out support that allows users to trade XTZ and instantly reap financial rewards. It’s like finding a hidden stash of candy in your sock drawer—unexpected and delightful!

How to Get Started with Staking

To join the staking party, all you need to do is transfer your XTZ to your Kraken Staking Wallet. But hold your horses! You must already have XTZ hanging out in your Spot Wallet before you can start this venture. Once staked, you can expect a 6% annual return, with rewards gracing your account twice weekly. Just remember, those staked tokens are off-limits for trading or withdrawal, so don’t let FOMO get the best of you.

Kraken’s Latest Moves

This news doesn’t just stop at Tezos. Kraken has also made headlines recently by adding support for the Swiss franc. Yes, you heard that right! With trading pairs now available between the Swiss franc and Bitcoin (BTC) and Ether (ETH), Kraken is clearly expanding its global reach. It’s like they’re hosting a party and everyone’s invited, as long as you’re holding the right currency!

Staking is All the Rage

It seems that staking is the belle of the ball this season. Just a few weeks back, Binance, the second-largest crypto exchange by trade volume, leaped on the XTZ bandwagon, announcing its own support for staking. If that wasn’t enough, Coinbase’s custody service is also transitioning to an internationally-based staking service. Clearly, there’s a trend happening here—staking is becoming the go-to investment strategy for crypto aficionados everywhere!

What Lies Ahead for Kraken?

So, what’s next for Kraken? While they’ve confirmed their interest in adding more Proof-of-Stake protocols, they’ve kept the names of the upcoming coins under wraps—cue the suspenseful music! With all these developments, it’s safe to say that Kraken is just getting started on its adventure into the staking universe.