The Development Of The Crypto Market Is Getting Positive, Indodax Launches Staking Features

Photo: Doc. Indodax

JAKARTA - Starting in 2023, the world crypto market is developing very positively. In terms of prices, crypto has experienced a lot of price increases after experiencing a bearish phase last year.

Like Bitcoin, which has increased by 73.40 percent from January 1, 2023 - April 14, 2023. Or coins and crypto tokens with other large markets that also rose dramatically, such as ETH which rose 65.21 percent, Cardano which rose 65.58 percent, Ripple which rose 48.25 percent, and even SOL had increased by more than 138 percent based on the Indodax market.

Not only talking about prices, blockchain adoption and crypto by major and world-renowned institutions, the emergence of web-based platforms 3, the increasing number of applications in the field of DeFi also supports the world's crypto market to continue to grow even more massively.

Seeing the increasingly massive development of the crypto market, Indodax as the first crypto buying and selling platform in Indonesia and has registered with the official Prospective Physical Traders of Crypto Assets from the Commodity and Futures Trading Supervisory Agency (BAPPEBTI) launched its newest feature, namely staking. Oscar Darmawan as CEO of Indodax revealed that this staking feature is a feature that will be awaited by the majority of crypto investors transacting at Indodax so far, especially for long-term investors.

"I see now is the right time for Indodax to launch our latest feature, Staking. Looking at the crypto market that continues to show its positive signal in early 2023, this is our time to provide other features for our loyal users who have been waiting for the staking feature to come. Staking features allow Indodax investors to get rewards with attractive nominals by locking crypto assets in Indodax accounts," said Oscar, in his statement, Friday, April 14. The launch of this staking feature is also part of the launch of several other new Indodax features that have been launched some time ago. The hope is that both novice and experienced investors can easily and safely buy Indodax and can reap the expected profit.

"If investors want to stake on Indodax, investors can go directly to the Earn tab that can be accessed on the Indodax.com website. For now, Indodax investors can only stake Polkadot (DOT) assets with a minimum staking of 10 DOTs. Over time, Indodax will certainly bring in other cryptocurrencies so that investors get a lot of choices of assets that can be staked. Staking DOT on Indodax is certainly safe, considering that the staking process itself is carried out on the blockchain of Polkadot (DOT) itself so that it is much more transparent," said Oscar.

Regarding the amount of rewards, investors will receive rewards that depend on APY Staking Rewards and also the number of DOTs that are locked. Before deciding to stake, investors can use the calculator feature to simulate staking in order to find out how many rewards will be obtained. This calculator feature has been conditioned with the applicable tax fees. So, investors can see the estimated income in a clean and real manner.

"To stake, investors must first carry out the KYC (Know Your Customer) process and verify the data by the indodax team. After that, investors can purchase Polkadot (DOT) crypto via the indodax.com website. After the order is successful, investors can visit the Earn tab and enter the desired number of Polkadot cryptocurrencies to be staked with a minimum stake of 10 DOT. In the stocking confirmation column, investors can see how much percent APOY (Annual Percentage Yield) is obtained, the following is with the interest period obtained, which is every day, "explained Oscar.

Oscar also added that in this staking process, investors need to wait three days for the calendar first so that the blockchain from DOT itself can confirm the desired staking. This period is called BONDING period. After three days, the status will change to "EARNING". In the EARNING period, investors will start receiving daily interest. These rewards will certainly not stop until investors decide to stop staking.

If investors want to apply for UNSTAKE, the status will change to "UNBONDING". Investors need to wait 28 days for the calendar and when the unstake succeeds, the initial DOT nominal when they buy a DOT in the Indodax market and their nominal DOT rewards will be transferred directly to their Spot Wallet and their status will change to "FINISH".

"Our product team has designed this staking feature simply. Hopefully, this staking method can be used by investors, both beginners and experienced investors, even so that they can also reap profits other than trading on the spot market. In the future, Indodax will continue to present other new features so that investors in Indonesia can safely and comfortably," concluded Oscar.

As additional information, Indodax has an offline counter that can be used by members to consult at the business centers of Sudirman, DKI Jakarta and Seminyak and Canggu, Bali. At Indodax, Bitcoin and other crypto assets can be owned easily and safely by anyone starting at a price of only IDR 10,000.