Bitfinex Introduces ETH 2.0 Staking Service

Bitfinex, a cryptocurrency exchange owned and operated by iFinex Inc., announced that it has launched an ETH 2.0 staking service. ETH 2.0 staking has been be available from 23 December 2020 to eligible users that hold Ethereum (ETH) on Bitfinex's platform.

There will be no minimum requirement on the amount of ETH held in order for a user to participate in staking on Bitfinex. ETH will be staked in batches of 32 ETH on a first come, first served basis.

Users staking ETH 2.0 on Bitfinex will find an easy to use interface simplifying the staking mechanism and removing the technical hurdles associated with setting up and running a validator node. Once ETH tokens are staked, they are locked on the beacon chain however Bitfinex intends to provide users the option of exiting their ETH 2.0 staking position by means of selling the ETH2 and ETH2 Rewards balances in their accounts in Bitfinex's peer-to-peer trading markets.

The launch of Ethereum in 2015 has given birth to a flourishing developer community involved in many innovative projects, including those in the nascent space of decentralized finance (DeFi). ETH 2.0 has the mission of solving two major challenges in blockchain development: limited scalability and high gas prices.