Gemini, the global digital asset platform, has made staking for Ethereum (ETH) and Solana (SOL) available to users in the UK.
This development allows UK users to participate in the crypto ecosystem and earn passive income through the Gemini platform, reinforcing the company’s commitment to expanding its presence in the region following the opening of its first permanent UK office in London.
Staking is an integral component of the Proof-of-Stake consensus mechanism, in which users deposit cryptocurrency to validate transactions on a blockchain network and receive rewards in return.
Through Gemini Staking, UK users can now stake any amount of ETH or SOL, earning up to 6% annual percentage rate (APR) for SOL, with ETH offering a variable rate.
Previously, staking in the UK required a minimum of 32 ETH through Staking Pro.
Gemini Staking is designed to provide users with flexibility and security.
Rewards are accrued daily, and the process for staking ETH or SOL can be completed via the Gemini app or web platform.
Gemini emphasises institutional-grade security measures and secure custody of assets, allowing users to participate in staking without managing private keys.
To begin staking, users can navigate to the relevant sections for ETH or SOL within the Gemini app or website, select their preferred staking option, and choose whether to stake existing holdings or purchase additional crypto for staking.
Featured image credit: Edited by Fintech News Switzerland, based on image by thanyakij-12 via Freepik
The post Gemini Opens ETH and SOL Staking to UK Users appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
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