Solana staking is currently accessible on Gemini

It is presently possible to carry out Solana staking via Gemini staking, which will open the doors for being able to obtain SOL rewards in one’s Gemini account. Gemini staking is also into backing staking activities related to Ethereum (ETH), along with Polygon (MATIC) and Solana (SOL). However, it is to be understood that SOL staking is not possible for users residing in the U.S. and the United Kingdom. 

Where staking is concerned, it is the core of Proof-of-Stake consensus systems through which users place crypto for the safe authentication of transactions that take place on a blockchain network. Following the authentication, the users who have been involved in the staking of their crypto come in for tokens in the form of a reward. 

There exist many obstacles related to staking, such as choosing and operating one’s own authenticator node and safeguarding one’s private keys. This is done to ascertain the fact that the authenticators remain linked with the network. In the case of even trivial errors, there is the factor of network-issued penalties, along with the possibility of losing the staked tokens. 

Gemini exchange ensures the staking process remains safe and convenient. This creates the opportunity for staking assets via some simplified steps. Gemini also takes the responsibility of safeguarding the staked assets through reimbursement of penalties that are levied by the authenticators on tokens that have been staked. 

Gemini assists customers in going around the obstacles related to staking and simultaneously coming in for rewards. Gemini takes care of the expenses incurred during the procedures of staking and non-staking. The entity returns the penalty amount that may have been levied on matters related to staking. Besides, there is the factor of institutional level security, where customers do not require to control their private keys and are safeguarded from connected risks by Gemini.  

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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