The Mumbai-based cryptocurrency exchange platform WazirX has introduced a new feature for crypto traders on its platform. 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.
“We’re focused on making crypto accessible to everyone in India. There are many crypto enthusiasts who are not comfortable with staking. 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. Staking on WazirX is very free and easy to use. It will help us onboard millions of users in the coming months,” said WazirX CEO Nischal Shetty.