Trezor Adds Solana Staking With Up To 7% APY
Trezor, a prominent hardware wallet company, has introduced a notable update to its cryptocurrency management application, Trezor Suite. This update enables Solana (SOL) holders to stake their tokens directly through the Trezor wallet, thereby enhancing both security and convenience. The integration is made possible through a partnership with Everstake, a staking-as-a-service provider, allowing users to delegate their SOL tokens to validators directly from the Trezor Suite interface.
The new staking feature offers several key benefits. Users can contribute to the security and decentralization of the Solana network while maintaining full self-custody of their assets. By delegating their tokens to validators, users help secure the blockchain and facilitate transaction processing without relinquishing ownership of their funds. The staking process is designed to be user-friendly, with an intuitive interface that simplifies the delegation process while upholding the highest security standards. Additionally, the competitive annual percentage yield (APY) of up to 7% provides an attractive return on investment, making staking accessible to a broad range of users with a low entry barrier of just 0.01 SOL.
This new feature extends the functionality of Trezor Suite, which already enables users to securely buy, sell, exchange, and now stake SOL within a single interface. The compatibility of this feature with Trezor Model T, Trezor Safe 3, and Trezor Safe 5 ensures that a wide range of users can take advantage of this enhanced capability. Further details on securely staking SOL with Trezor Suite can be found on the official Trezor website.
Trezor, founded in 2013, has been at the forefront of self-custody solutions for crypto assets. The company's mission is to empower individuals with secure and independent storage of cryptocurrencies through open-source devices. Trezor's range of hardware and software products caters to both crypto novices and experts, ensuring enhanced security for all users. In 2023, Trezor launched Trezor Academy, an initiative aimed at educating grassroots communities about safe participation in the crypto ecosystem. As part of SatoshiLabs, a technology holding company focused on Bitcoin and crypto innovation, Trezor continues to drive advancements in the field of cryptocurrency security.
This partnership with Everstake not only enhances the functionality of Trezor Suite but also underscores Trezor's commitment to providing comprehensive and secure solutions for cryptocurrency management. By integrating Solana staking, Trezor is expanding its offerings to include one of the most popular and rapidly growing blockchain networks, thereby attracting a broader user base. The collaboration with Everstake, a reputable staking-as-a-service provider, ensures that users can delegate their SOL tokens with confidence, knowing that their assets are secure and that they are contributing to the network's stability and growth.
The competitive APY of up to 7% makes staking an attractive option for SOL holders, providing a passive income stream while supporting the Solana network. The low entry barrier of just 0.01 SOL further democratizes access to staking, allowing even small-scale investors to participate and benefit from the process. This user-friendly approach aligns with Trezor's mission to make cryptocurrency management accessible and secure for all users, regardless of their level of expertise.
In summary, Trezor's integration of Solana staking through its partnership with Everstake represents a significant advancement in the company's offerings. By enabling users to stake their SOL tokens directly from the Trezor Suite interface, Trezor is providing a secure, convenient, and rewarding way to participate in the Solana network. This update not only enhances the functionality of Trezor Suite but also reinforces Trezor's position as a leader in cryptocurrency security and self-custody solutions.
