Seychelles-based KuCoin has announced soft staking for Decred holders on their platform. Soft staking will start for Decred holders on Kucoin from 19 February.
KuCoin’s Soft Staking means there’s no staking period, or staking amount. You get a return on what you have in the wallet. KuCoin’s Soft Staking allows customers to access their coins at anytime. However, withdrawals may not be instant always. KuCoin allows its users to use their tokens to earn while still being able to “adapt to fluctuations in the market”.
Single nodes are expensive to run and not always profitable for individual. KuCoin’s Soft Staking will help individuals with limited balance to earn passive income.
Kucoin has advised Decred owners to remove their Coins from Decred wallets on Kucoin by 19 February if they do not want them to enter into soft staking. Apart from Decred, KuCoin offers Soft Staking options for Tron, Deep Onion, Energi, Eos, Iotex and more.
Decred’s market cap rank is 35 and it’s currently trading at $20.39. The all time high for Decred was $129.37. A Decred enthusiast celebrated the staking option that’s opened up on KuCoin. Dusty Decred said: ‘This is massive. The barrier to staking $DCR just vanished”
KuCoin customers can withdraw their Decred returns when the amount of the Decred revenue is above 0.000001.
StakeCube has similar features on their staking platform on several POS and masternode coins.