CryptoBiz Exchange increases staking period up to 9 months
CryptoBiz Exchange has increased staking duration on its mobile app up to 3,6 and 9 months. In a statement, the exchange said it has increased the staking durations due to user demand and to incentivise users with better interest returns on amounts staked with the exchange.
CryptoBiz Exchange had launched crypto staking facility in 2021. Earlier, it was offering the option to stake amounts for a maximum of 4 weeks duration. The statement said that the advanced CryptoBiz Staking option has enabled users to avail the facility of ‘staking’ or keeping their existing cryptos with the exchange, while earning consistent interest upon it.
Commenting on the initiative, Rahul Rathod, Founder and CEO, CryptoBiz Exchange said, “As we are aware that staking is said to be one of the safest ways of ensuring consistent returns in a highly volatile Cryptocurrency market, especially for those who wish to hold Cryptos for longer time periods rather than getting into day-to-day trading. I personally believe that this step will prove fruitful and profitable for investors as staking assures earning via interests.”
The CryptoBiz app offers built-in key lockers and protected logins.
CryptoBiz Exchange is also planning to launch a virtual marketplace for seamless buy/sell of NFTs to promote Indian creators.
CryptoBiz Exchange is an advanced trading platform that facilitates buying, selling and trading of virtual assets using fiat currency as well as other digital assets. The company has its financial headquarters in Estonia.
Should you stake?
Crypto is an unregulated asset in India. Crypto market is highly volatile and investing in it may lead to losses. In India, there is also flat 30% tax on any income from crypto and other virtual digital assets. Hence, you should do proper research and consult your financial advisor before investing in crypto.
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