What Can You Stake?
eToro allows staking for assets such as Cardano (ADA), Tron (TRX), and Ethereum (ETH). However, ETH staking is only available to certain users. The rewards percentage available to a user depends on their membership level.
For ADA, bronze members and all users in the United States will receive 75% of the monthly staking yield. Silver, Gold, and Platinum members will receive 85%, while Diamond and Platinum+ members will receive 90% of the monthly staking yield.
There are 9 staking intro days for holding ADA and the rewards will start on the 10th day of holding the asset. Tron (TRX) also has the same reward percentage formula as ADA for its club members but with 7 staking intro days.
The rewards begin on the 8th day. ETH staking also follows the same reward percentage. However, ETH staking will be locked until ETH 2.0 is launched. This means you’ll only have access to the rewards on the staked ETH when the ETH 2.0 blockchain goes live.
It is important to note that certain users are not eligible to receive staking rewards. For ADA and TRX, users in the UK who signed up on eToro on or after February 8, 2022 are not eligible for staking rewards.
UK residents who registered on or after February 1, 2022 are not eligible to receive staking rewards for ETH 2.0. Also, eToro staking does not apply to cryptocurrency assets that are held using copy trading, copy portfolios, CFDs, and short positions.
How Much Do You Need to Get Started?
eToro takes a daily snapshot of your holdings at 00:00 GMT. The total will then be divided by the number of days in the month and the result is used to calculate the average daily amount. The average daily amount will be used to calculate the monthly reward.
The staking rewards will also be calculated using the applicable percentage of the user’s club membership. The minimum payable amount must be worth more than 1 USD in value.
However, eToro pays staking rewards with the same crypto asset you stake. All staking rewards for a particular month will be paid within 14 days of the next month. All you need to do is to own and hold the supported crypto asset.
The rewards will be shared automatically once they are available. eToro also provides an email containing the full details about the amount, the monthly yield, and a link containing the formula used for calculating eligibility, staking fees, and other necessary information.
Remember to buy cryptos without using leverage. Otherwise, you'll only be purchasing crypto CFDs that don't give out any rewards. Moreover, you'll also be charged overnight fees on eToro.