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For projects, the downtrend is the right time to build and develop. At this stage, Avalanche is the ecosystem of choice for projects. BitGo is no exception as the project’s homepage recently announced the offering of the first and only qualified custody staking solution for AVAX holders. So let’s join Avaxholics to see what will attract Avax holders!
What is BitGo?
BitGo is a bitcoin wallet with strong security measures, an interactive design, and a modern interface. It is a multi-signature, multi-user, secure wallet that provides welding services.
The wallet was created especially to assist businesses that frequently do bitcoin transactions. Pantera, Bitstamp, Haskey Capital, and BITBUY are the investors in this project.
Recently, it signed an agreement to “look after” FTX’s remaining assets on November 13, about a day after FTX was hacked, siphoning $372 million off the exchange. (Reading more about this here.)
Benefits for AVAX Holders
Recently, the official Twitter page of BitGo announced the offering of the first and only qualified custody staking solution for AVAX holders.
It makes staking Avalanche a straightforward process, enabling users to quickly and securely stake AVAX from the comfort of their BitGo wallet. Outstanding Features:
- Institutional-grade staking
- Insured
- Bankruptcy-remote
“Institutions and investors are looking for a secure, regulated custodian through which to hold their crypto assets,” said John Nahas, VP of Business Development at Ava Labs, a team supporting development of the Avalanche public blockchain.
The minimum staking period is 2 weeks and the maximum is 1 year. The minimum amount of AVAX to become a validator is 2000 tokens. In the future, they will support delegated staking, which will allow for just 25 AVAX to participate in staking.
Reading more about this here.
About project: website | twitter | linkedin | youtube | medium
Conclusion
With the exclusive and unique benefits for Avax’s holders, perhaps users will pour into this ecosystem more, which will help the ecosystem grow even stronger.
All information in the article is for reference only, this is not investment advice. Hopefully, the information that Avaxholic has gathered in the article will be useful to you.
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