Facebook Twitter Instagram
    • About
    • Contact
    • Disclaimer
    • Privacy Policy
    • Terms and Conditions
    Facebook Twitter Instagram LinkedIn
    Coin CentrallyCoin Centrally
    • Home
    • News
    • Markets
    • Reviews
    • Learn
    Subscribe
    Coin CentrallyCoin Centrally
    Home»News»Altcoins»Trust Wallet Now Supports Staking Of Cardano (ADA) On Apple Devices
    Altcoins

    Trust Wallet Now Supports Staking Of Cardano (ADA) On Apple Devices

    Puneet SinghalBy Puneet SinghalDecember 28, 20223 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Trust Wallet Support Cardano ADA Staking
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Apple devices running Apple’s iOS operating system can now stake Cardano’s native token, ADA.

    The functionality has been implemented through Trust Wallet, a non-custodial “hot” wallet that stores crypto assets. This feature was initially only available on Android devices running Trust Wallet.

    Hey iOS users! You can now stake @Cardano $ADA too, easily and directly in your #TrustWallet!

    Our detailed guide and FAQ below 👇https://t.co/LpFyWTiBmC https://t.co/gMMZeoBbzZ

    — Trust – Crypto Wallet (@TrustWallet) December 27, 2022

    It is possible to stake a minimum of 4 ADA. At the end of each epoch, tokens and rewards for staked tokens are automatically restaken. The functionality also allows you to choose from the more than 2,700 validator pools available on Cardano, according to Cexplorer.

    Since Cardano is a proof-of-stake blockchain, staking is of paramount importance, so the ability to delegate ADA to stake from an iPhone seems like a very positive development. Especially since Trust Wallet has millions of users and Binance is the largest ADA staking provider, the wallet’s parent company.

    There are currently 25.08 billion ADA in staking, representing 72% of the total supply of Cardano tokens. Therefore, the Cardano tokens in staking are worth $6.3 billion. Although ADA’s price has dropped, there is a steady increase in wallets as well as tokens staked.

    According to the market cap, Cardano ranks among the top 10 cryptocurrencies. The proof-of-stake blockchain seeks to be more flexible, sustainable, and scalable than Ethereum – with a proof-of-stake architecture designed to be the next generation of Ethereum.

    As a result of Cardano’s smart contracts, developers can build a wide range of decentralized finance (DeFi) apps, new crypto tokens, games, and more.

    With each staked crypto asset, users improve the security and efficiency of the underlying blockchain. In exchange, they receive additional assets from the network, which are paid out as rewards.

    The Cardano blockchain uses a PoS consensus mechanism. In this system, rewards are distributed to delegators every five days. In addition, they can withdraw their respective ADA tokens whenever they want. Cardano doesn’t have any penalties preventing its delegates from having freedom and authority over their assets.

    The number of active users of Trust Wallet globally is around 25 million. On December 13, 2022, they announced that Android users can now stake Cardano (ADA) coins.

    $ADA @Cardano staking is now available in Trust Wallet!

    Here’s how you can easily start staking #Cardano in your #TrustWallet👇https://t.co/LpFyWTi3x4 pic.twitter.com/hM9LfQTjNJ

    — Trust – Crypto Wallet (@TrustWallet) December 13, 2022

    To begin staking, users must select the ADA token on the application, click the “Stake” button, and then choose their preferred validator.

    Currently, Trust Wallet supports thousands of cryptocurrencies on almost 70 blockchains. In 2018, Trust Wallet was acquired by Binance, a major cryptocurrency exchange.

    Earlier in November 2022, Trust Wallet launched its browser extension, which can be downloaded directly from Google Chrome and Opera.

    Cardano Staking Trust Wallet
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleSoccer Meets the Metaverse: Argentine Soccer Association AFA Partners with Upland
    Next Article MicroStrategy Expands Bitcoin Portfolio With $45 Million Purchase Of 2,500 BTC

    Related Posts

    NFTs

    Salesforce Joins NFT Craze With A Suite Of Web3 Offerings

    March 16, 2023
    NFTs

    Meta To Discontinue NFT Support On Instagram and Facebook

    March 14, 2023
    NFTs

    Starbucks’ First NFT Drop Sells Out In Just 20 Minutes

    March 10, 2023
    Latest Posts

    What Is An NFT Floor Price? Everything You Should Know

    March 24, 2023

    What Is An NFT Airdrop & How Does It Work? [2023 Guide]

    March 23, 2023

    How To Burn An NFT In 4 Simple Steps: A Beginner’s Guide

    March 15, 2023

    What Are PFP NFTs? Profile Picture NFTs Explained [2023]

    March 14, 2023

    What Are Blue Chip NFTs & How To Find Them? [2023 Guide]

    March 10, 2023
    • About
    • Contact
    • Disclaimer
    • Privacy Policy
    • Terms and Conditions
    Facebook Twitter Instagram LinkedIn
    © 2023 Coin Centrally

    Type above and press Enter to search. Press Esc to cancel.