We’re thrilled to announce that Kraken now supports staking for holders of Algorand’s native token, ALGO!
Head into the Earn section of your account to put your ALGO to work today.
What is Algorand?
Algorand is a Proof-of-Stake blockchain that rewards users for contributing their funds as part of the network’s validation process. With a goal of delivering faster, scalable and more cost-effective smart contracts, it departs from the traditional infrastructure that underpins leading cryptocurrencies.
What you need to know
- You can earn up to 4.75% in yearly rewards, distributed weekly.
- Deposits require 10 confirmations (~45 seconds). You can add ALGO to your Kraken account by navigating to Funding, selecting the asset and hitting Deposit.
Will Kraken list more assets?
Yes! But our policy is to never reveal any details until shortly before launch – not even which assets we are considering. All of Kraken’s listed tokens are available on our website, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.
Trade with caution
Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).
Invest with caution
Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research and invest at your own risk.