Swiss online trading firm Swissquote has expanded the lineup of crypto investment opportunities via the launch of Tezos staking.

Staking basically means that you reap the fruit of crypto’s labour. All traders have to do is hold their crypto in place while the blockchain puts it to work.

Staking in crypto is a process that allows traders to earn rewards while blocking certain digital currencies (put them “at stake”) via a consensus feature called Proof of Stake (PoS) during an amount of time defined by the traders.

Their locked assets are used to achieve a consensus mechanism that is required to ensure the security of the network and the validity of each new transaction. That’s why crypto stakers are also called «validators». For locking assets and providing services to the blockchain validators are rewarded with new coins.

Tezos (XTZ) is one of the most important Proof of Stake blockchains. Staking these coins is called «Baking Tezzies» in insider circles.

Here is how to get started:

• Connect to your trading account and click on the crypto plug-in
• Select «Earn»
• Define your staking parameters and confirm by clicking on «Stake»

At present, Swissquote offers more than 25 crypto-assets. In the end of December 2021, Swissquote added Avalanche (AVAX) to its cryptocurrency lineup.