Bitcoin Suisse to Offer Staking Support From Day One of Eth2 Lauch
Bitcoin Suisse plans to offer Ethereum (ETH) staking services from day one.
Jumping the Eth2 Bandwagon
One of the oldest and most reputed crypto service providers in the digital assets space, Bitcoin Suisse recently confirmed that they will be offering ether staking services from the first day of the launch of Eth2. In a statement reported by Trustnodes, the company says:
“The deposit contract for Ethereum 2 is now live. This means that the new version of the second biggest protocol by market cap will most likely become a reality before Christmas.”
“This is one of the most significant milestones in crypto this year and we will be ready for our clients on day one.”
Notably, over 100,000 ETH has already been deposited to stake in the newly launched Eth2 deposit contract. More than 524,000 ETH need to be deposited by November 24, 2020, which, experts suggest is very likely.
Should the deposit contract meet its required threshold, then the genesis block will go-live on December 1. Otherwise, it goes out seven days after the minimum ETH deposits are met.
No Need to Own 32 ETH
For the uninitiated, a minimum of 32 ETH is required for a user to become a validator in Eth2. However, firms like Bitcoin Suisse and Rocket Pool are making it possible for individuals with less than 32 ETH holdings to participate in Eth2 staking by pooling in the ether together from different users.
As alluded to earlier, Bitcoin Suisse is one of the first crypto-focused financial services providers and has, over the years, cemented itself as a trusted name in the wider industry. Earlier this year, Svante Jorgensen, a blockchain engineer at Bitcoin Suisse told Trustnodes:
“As we have already established a high degree of trust, both from track record and regulatory compliance, custodial staking is where we can provide the most value for our customers. So that’s the route we are taking.”
“One of the neat features we can offer because we are custodial is no lower limit on staking size – so no 32 ETH minimum.”
In related news, BTCManager reported earlier today that Dubai-based investment firm IBC Group had announced that it was staking ETH worth $10 million to support Eth2 launch.
Source: Read Full Article