Crypto Exchange Bithumb to Launch Staking As a Service With IOST

In a blog post published on April 14, 2020, South Korean cryptocurrency exchange Bithumb announced it would be launching staking as a service on April 20, 2020, with IOST (IOST) as the first cryptocurrency available for staking on the trading platform.

Bithumb to Debut Staking As a Service with IOST

Leading cryptocurrency exchange Bithumb today announced it would be launching staking as a service as of April 20. The exchange’s newest service offering will reward users for the specific digital assets held by them.

Bithumb will launch staking as a service as of April 20. $IOST will be the fist coin available for staking on Bithumb.https://t.co/DXJ9DzyreJ pic.twitter.com/nHJgJyNFD6 — ICO Analytics (@ICO_Analytics) April 14, 2020

The exchange added that in commemoration of the launch of the service, it will kickstart the IOST airdrop event.

Bithumb shared information on the IOST pre-deposit airdrop event stating the event will span from April 16, 11 AM KST to April 17. The exchange added the IOST payout will be based on the cumulative deposit amount of IOST tokens deposited by users within the stipulated event time.

Notably, the exchange mentioned that in case any user chooses to withdraw their IOST tokens from the time of notification to before the time of payment (April 29, 2020), then they will find themselves excluded from the list of payment recipients.

The exchange encouraged interested users to participate in the event and assured them of the safety of their digital assets.

Bithumb Committed to Providing Best Services

Despite the fact the global economy has come to an unprecedented halt courtesy of the COVID-19 pandemic, some businesses across industries are burning the midnight oil to emerge bigger than ever from the crisis. One such business is the Korean crypto exchange Bithumb.

BTCManager reported on February 26, 2020, how Bithumb unveiled new asset transfer service featuring exceptionally fast transfer speeds, running up to 10x faster than transfer speeds calculated on blockchain withdrawals.

Similarly, in a bid to bolster their security mechanism, in March, Bithumb inked a deal with blockchain analysis firm Chainalysis to embrace the latter’s investigations solution – Chainalysis Reactor.

On a more recent note, the exchange unveiled crypto margin trading service allowing users to trade digital assets including Bitcoin (BTC), and Ether (ETH) against Tether (USDT) with up to 5x leverage.