Cryptocurrency This Week: WazirX Introduces Staking Feature, & More
Users on WazirX will now be able to avail the ‘staking’ facility, which is similar to earning interest on one’s bank deposits. The newly launched feature enables WazirX customers to earn annualized returns of 2% to 16% per annum on their investments. The staking feature is simple, for the users need not lock their tokens, as they will get staking rewards when their funds are sitting idle in the WazirX exchange. I believe our staking feature is a great way to enable holders and new investors to participate in the crypto revolution, and earn yields on their holdings. The last week or so saw Indian cryptocurrency stakeholders tense up, as a Bloomberg report, citing sources, said that the Indian government was planning to ban cryptocurrencies.