Revolut Launches Staking Feature for Six Cryptocurrencies, Allowing Users to Earn Rewards

Revolut, a prominent digital bank, has introduced a staking feature that enables users to temporarily lock funds to secure a cryptocurrency's network and earn rewards. The staking process is simple and easy to use, and currently supports six cryptocurrencies: Ethereum, Solana, Polkadot, Cardano, Tezos, and Polygon. The rewards for staking vary depending on the amount of crypto staked and the chosen cryptocurrency, with APYs ranging from 2.09% to 12.30%. However, some cryptocurrencies have lock-up periods before users can access their balances. Revolut users can stake Ethereum and receive their rewards daily after a waiting period of approximately 2 days, but must wait 10 days to access their balance once unstaked. Staking Solana on Revolut offers an APY of 5.25%, with rewards paid every 3 days after an initial waiting period of 3 days. Staking Polygon on Revolut offers an APY of up to 3.74%, with rewards paid daily after a 1-day warm-up period. Revolut staking is available in select countries within the EEA, with fees ranging from 15% to 35% depending on the token and the amount staked.