DUBAI, United Arab Emirates, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is thrilled to introduce the Bybit On-Chain Earn feature, broadening user access to Proof-of-Stake earning models with added benefits. The staking-as-a-service feature provides a seamless staking experience, peeling away complex technicalities and bringing more users direct access to staking opportunities via the Bybit platform. From Oct. 30, Bybit users may unlock a new way of earning crypto rewards with On-Chain Earn.
One of the major pain points of staking for beginners is the hassle of managing multiple technical layers and gas fees. The resource-intensive exercise also requires advanced technical know-how from individual stakers, who are expected to be equipped with the hardware and knowledge of managing and deploying staking nodes.
"Bybit On-Chain Earn will redefine the staking experience, stripping away complexity and opening doors for an influx of CeFi users to participate in the decentralized future. This launch marks a step toward a revolution in how people interact with blockchain technology, blending simplicity with opportunities. At Bybit, we are committed to creating an inclusive space and empowering users to become active contributors to blockchains they take part in,” Joan Han, Sales and Marketing Director of Bybit.
"With the launch of On-Chain Earn, our goal is to bridge the gap between decentralized experiences and centralized users. At the same time, we are eager to collaborate with a wider range of projects within the ecosystem, working together to create a 'Crypto Ark' that provides a robust and comprehensive gateway to the world of digital assets,” said Jerry Li, Head of Financial Products at Bybit.
Feature Highlights:
- Navigating: staking with ease: With Bybit On-Chain Earn, users may take advantage of Bybit's sophisticated platform and infrastructure. The service allows users to stake top-of-the-range cryptocurrencies from ETH to SOL with a few clicks, and without micromanaging the technical aspects of staking.
- Contributing to decentralization with potential gains: Users may also benefit from market upside while contributing to the safety and decentralization of the blockchain through Bybit On-Chain Earn. By staking on a blockchain of their choice, users will be contributing to the protocol simply by participating.
- CeFi x DeFi opportunities: The product is uniquely positioned to support centralized finance (CeFi) user's pivot to the decentralized finance (DeFi) space, allowing them to kickstart their DeFi exploration in the familiar user-friendly settings of Bybit. Ease of access to both avenues affords crypto believers with more diversification opportunities. Further, Bybit users may also enjoy competitive APRs and extra benefits such as airdrops and other rewards.
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.
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Contact
Head of PR
Tony Au
Bybit
tony.au@bybit.com