BitGo Launches Service for Staking Coins
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3 October
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Cryptocurrency custody service BitGo has announced the launch of BitGo Staking, a new service that allows earning from 7% to up to 13%.

As official announcement states, clients whose assets are with qualified custodian BitGo Trust can now get access to passive income.

Initially, BitGo Staking will support only Dash (DASH) and Algorand (ALGO). Support for additional coins planned for later this year.

Here are some benefits of using the BitGo Staking service:

  • Each node runs on its own dedicated virtual machine so one client’s node cannot access other nodes or infrastructure
  • No keys go online: seamless integration with BitGo Custody keeps assets in cold storage
  • Multi-signature technology: the industry standard for institutional investors
  • Choice of staking providers: delegate staking to BitGo Trust or use the staking provider of your choice
  • Insurance: custodial assets are insured for up to $100 million

Ben Chan, CTO at BitGo says in order to be a great custodian, the company has to provide its clients with the ability to use their assets in custody.

"Staking provides our clients with returns on their investments without ever moving their assets out of custody," Chan added.

Previously crypto exchange Binance launched a new service called Binance Lending Service (BLS) that allows anyone to gain proceeds through idle cryptocurrency assets.

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