# Staking on Crypto Exchanges



## smndly (18 Feb 2021)

I recently came across Staking on my Kraken account and thought it would be of interest to others particularly as bank deposit interest rates are near 0%. 

On the Kraken exchange, you can "Stake" both cryptocurrency and fiat currencies such as Euro. You earn a % "reward" ie interest for staking your money depending on which currency you are using.

The reward for staking Euro is 1.5% per annum and the rewards are paid out twice a week which helps compounding. This beats any deposit accounts that are available in Ireland today and you can "unstake" immediately which is akin to an instant access deposit account. I assume there is no bank guarantee scheme on this exchange so it is of course more risky than putting it in a bank in the event that Kraken goes belly up but nonetheless I thought it would be of interest to some.


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