I know i write soon on Binance's new features, that a fact they are prolific and address many different subjects.
First, i don't work for Binance!
And i think it is not a good idea to keep all it's capital on only one platform, just in case of hacks or change in laws or any other impacting events.
Other market representatives have generally less features, but can do their implementation good too!
Let's examine Kraken stacking feature, compared to big representative Binance platform:
- It's more limited: only XTZ now (COSMOS and DASH are on roadmaps)
- It's a little bit more complicated
- But it's working well: i experience it with great success
- And more auto growing than Binance
Let see it...
Binance does soft stacking: it's simple, you just have to hodl some stacking supported crypto and that's all.
Binance snapshots daily your amount, add it, and serve you interests (with sometimes bonuses) every 30 days.
Kraken does hard stacking: you have to transfer from spot account to stacking account, it's why i say it's a little bit more complicated.
Contrary to Binance, Kraken serve interests on mondays and fridays, which is pretty frequent and dynamic in comparison.
And it's logic too that it autogrows faster as you hodl more and sooner.
The fact you have to first transfer back to spot wallet to be able to trade with, it make Kraken's offer less reactive when will to associate stacking with trading.
I hope Kraken will add more coins to their stacking feature, and other features too.
The market / the markets needs more concurrence!
And we know you do it well Kraken!
Another brick to know to make passive income, and diversification strategy.
Hope it helps, enjoy info, don't hesitate to comment.
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