All Rainbows and Sunshine Halos for Tezos (XTZ) After Binance’s Trust Wallet and Coinbase Inclusion
Trust wallet from Binance Exchange is set to add Tezos to its staking service feature.
Institutional investor staking services have recently been added to Coinbase Custody, which is a subsidiary of Coinbase, and has chosen Tezos to be its first digital asset
Digital assets which are enabled for staking on Trust wallet from Binance are :
On Wednesday 3rd of April 2019, Binance Tweeted :
“#Binance‘s official crypto wallet @TrustWalletApp announced support for @tezos $XTZ with staking set to launch in Q2.”
Trust Wallet Features
Binance‘s Trust Wallet has an abundance of features which makes it one of the most sophisticated digital wallets in the cryptosphere and is said to be the major wallet of Binance‘s DEX (Decentralized Exchange).
It is also said to have built in Decentralized applications (Dapps) which can be accessed with the Web3 browser.
What is Staking
Staking/Forging is basically the validating, voting or purchasing of rights on a particular network.
In staking, digital assets are kept as custody for the authentication of transactions on a platform.
Then the forgers are giving fresh digital currency after the block has been formed.
Tezos (XTZ) Hike
At the beginning of the year, after Coinbase Custody stated that Tezos and dPos (delegated proof of system) token staking will be incorporated, Tezos had a 50% increase in its value.
Although within the last 48hrs, while other digital assets have had huge hikes, Tezos has had some stability in its dollar value.
Tezos (XTZ): It's Past and Future
At 16:00 hours UTC, on the 3rd of March 2019, Tezos had a dollar value of 1.01 USD.
However, there is a risk of the digital currency falling in value if staking increases without sufficient transactions on the network.
But the assets markets are bullish, so staking of Tezos seems to be a very easy and profitable investment plan for the long term.