Staking Feature Sparks Crypto Market Amidst Fluctuations

RediksiaTuesday, 20 June 2023 | 21:24 GMT+0000
staking feature sparks crypto market amidst fluctuations 779636d

DIKSIA.COM - JAKARTA – The staking feature has emerged as an investment choice amidst the volatile crypto market. Reku, an Indonesian cryptocurrency exchange and marketplace, has become the first platform to receive written approval from the Commodity Futures Trading Regulatory Agency () to operate staking.

Collaborating with , Reku has been implementing staking regulations and guidelines since September 2, 2022. This legality ensures users that their Reku crypto assets are genuinely staked on the blockchain.

Robby, CCO and Co-Founder of Reku, emphasized the significance of Bappebti's support for the crypto ecosystem in Indonesia. “This support is not merely reflected in written form in the Decree, but it also demonstrates our commitment to continuous innovation for the progress of investors in Indonesia, while upholding strict compliance with existing regulations,” Robby stated in his press release on Tuesday (June 20, 2023).

Robby further explained that Reku offers transparency by allowing users to view their transactions on the blockchain through the Reku wallet address (publicly verifiable by the users).

According to him, regulators can evaluate, audit, and closely monitor the platform's system, ensuring users are protected from fund misuse risks.

Investing through staking presents users with the opportunity to earn rewards as a return for their participation in blockchain development.

In staking, the rewards are given in the form of coins from the blockchain network, obtained from block rewards and/or network earnings. Users can stake at least five different coins with rewards of up to 12.5 percent per year, including Cardano (ADA), Ethereum (ETH), Polygon (MATIC), Solana (SOL), Polkadot (DOT), and Tezos (XTZ).

“Staking crypto investments not only provide rewards but also offer the advantage of potential price increases per coin,” he elaborated.

Tirta Karma Senjaya, the Head of Development and Supervision Bureau for Commodity Futures Trading, added that rigorous selection is necessary before obtaining the Bappebti's decision to issue approval letters for expanding the scope of prospective crypto asset traders.

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The information provided in this article is for informational purposes only and should not be considered as financial or investment advice. Cryptocurrency investments are subject to market risks, and readers should exercise caution and do their due diligence.