Monex’s Coincheck announces launch of Coincheck Staking
Coincheck, Inc., a subsidiary of Monex Group, Inc., today announced the scheduled launch of “Coincheck Staking” in January.
The service will allow users to automatically earn Ethereum (ETH) simply by depositing ETH with Coincheck, without any applications.
Although only ETH will be supported at the time of launch, the Company is considering expanding the range of cryptocurrencies in the future.
Staking means earning rewards by contributing to the stable operation of the blockchain by performing certain actions on crypto assets that have adopted the Proof of Stake. Staking Service means a service whereby the Company will perform staking on a quantity of crypto assets entrusted by the customer that the Company will specify as subject to the Staking Service, and grant the customer a portion of the staking reward received as a result of the staking.
While individual staking locks the staking crypto asset for a certain period of time, Coincheck Staking does not restrict the transfer or sale of crypto assets covered by the staking service.
By continuing to hold the cryptocurrency rewards from staking, users can invest their assets with the benefit of compound interest.