21Shares Unleashes Crypto Staking On BX Swiss Exchange
Boy oh boy! 21Shares, the world’s leading issuer of exchange-traded products, is at it again–this time unleashing a staking-based “Digital Currency Staking ETP” on the BX Swiss Exchange.
What Is Staking Anyway?
Okay, we should probably first tackle the concept of “staking” before discussing the latest 21Shares product. In a nutshell, staking allows investors to earn passive income by holding a cryptocurrency and participating in the proof of stake consensus protocol.
It works like this: when an investor stakes a certain crypto, they are basically supporting its network’s security and helping to maintain its blockchain. As a reward, the investor earns rewards (aka “staking rewards”) based on the amount of money they have staked.
21Shares Brings Staking To The Swiss Exchange
So now that we’ve explored staking, let’s turn to 21Shares’ new product. This groundbreaking Digital Currency Staking ETP has been developed to allow investors to easily invest in a range of staking asset classes.
The 21Shares Staking ETP currently encompasses an array of major cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Cardano, Dash and Tezos. Essentially, users will be able to stake each of these tokens and receive a portion of the rewards. As a result, they have the chance to earn passive income without having to worry about managing their own tokens.
This Is A Big Deal
It goes without saying that this new 21Shares product is a really big deal. After all, it provides both institutional and retail investors with the opportunity to earn staking rewards on the BX Swiss Exchange. What’s more, it allows them to do so without having to put in any of the hard work that is usually associated with staking. Basically, 21Shares has taken a complex, time-consuming process and made it much more accessible.
Final Thoughts
In short, 21Shares’ new Digital Currency Staking ETP is an incredibly exciting, innovative product that will make staking a lot easier for investors. Whether you’re a first-time staker or a seasoned investor, you should definitely give this product a try. So, get staking–and live the high life!
