CoinDCX prepares to introduce User-Friendly Staking on ETH 2.0

India’s cryptocurrency exchange CoinDCX is prepared to introduce ETH 2.0 staking for the global cryptocurrency community. Phase 1 of ETH 2.0 is to be released by Dec 1 and the Executives of CoinDCX stated that they are now “all set” to release ETH 2.0.

With a smart contract-based solution CoinDCX will enable stakes of ETH 2.0 to their users with less than 32 Ether (ETH). Co-founder of CoinDCX, Neeraj Khandelwal in an interview said that the users of CoinDCX will be able to stake ETH as low as 0.1 ETH up to 1,000 ETH in a single transaction. 

“ETH 2.0 requires users to hold 32 ETH in order to create validators and participate in staking. This would prevent small-time investors from participating in staking. Also, if a user wants to invest more than 32 ETH it is most effective to run multiple validator nodes, adding on to the complexity.”

CEO and co-founder of CoinDCX Sumit Gupta said that “CoinDCX has always been at the forefront of adopting and integrating innovative solutions within the crypto ecosystem that will help crypto services.”

“We are contributing to the Ethereum ecosystem on our part so it helps to grow the whole ecosystem. For the users who want to stake Ethereum, we are providing innovative solutions to do so. And for the ETH ecosystem, supporting the target of 524,288 ETH or about $200 million, for December 1 ETH 2.0 staking.”

Previous year the company CoinDCX blasted off these three major coins Harmony (ONE), QTum (QTUM), and Tron (TRX) and these were the company’s maiden staking offering. To buy Harmony (ONE) the minimum balance required was 100 (~ $1), and for Qtum (QTUM) it was 1 (~$3), and for Tron (TRON) it was 5 (~$ 0.1) and the minimum balance varied from one token to another.