• BitGo announced support for crypto staking within its insured custody offering.
  • The solution combines the benefits of cold storage and insurance.

Crypto custody provider BitGo is now supporting cryptocurrency staking as part of its insured custody services.

A cryptocurrency custody service provider BitGo has announced support for staking market. It means that staking providers now can use BitGo services to store their coins and transfer staking rewards to their customers.

Staking means that owners of a cryptocurrency are rewarded for holding it for a certain period. Previously, such features were not available at BitGo, a Palo Alto-based company that offers secure storage of cryptocurrencies.

Read also: BitGo receives security certification from a bigshot auditing company

Many companies, including a blockchain-based bank Celsius Network, have joined BitGo to be able to use its new solution. Thus, Celsius that offers staking of Dash moved its masternodes to BitGo, to make surer that its client’s coins are secure.

BitGo offers instant access to digital assets, along with the benefits of insurance to cover any losses. This announcement marks the next step in custody services evolution that will see the move from cold storage services to insurance-based solutions.

BitGo plans to extend the range of the services within the solution by providing custody services for proof-of-stake coins and other staking providers.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD sinks beneath 50-day SMA, is recovery to $10k a pipe dream?

Bitcoin price recovery above $10,000 is gradually becoming a mirage following continued losses that have eyed $9,000 since the beginning of the week.

More Bitcoin News

Crypto Today: Bottomless 'pit' swallows Bitcoin and altcoins

Rampage has been the order of the day for three days in a row across the cryptocurrency market. Major digital assets such as Bitcoin, Ripple, and Ethereum have suffered greatly at the hand of the bears. 

More Cryptocurrencies News

Ethereum Price Analysis: Is $230 ETH/USD’s last shot at a bullish reversal?

The bloodshed in the cryptocurrency market has started to send jitters among investors and crypto enthusiasts. The losses across the board remain vaguely unexplained especially with the Coronavirus fast ...

More Ethereum News

Litecoin Price Analysis: Wave theory projects price to move lower still

Cryptocurrencies continue to fall on Wednesday adding to a heaving start to the week already. Litecoin is one of the worst-hit currently around 11.5% lower at the time of writing. 

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP