Trezor Suite Adds Solana Staking, Offers 7% APY
1min read Trezor, the pioneering hardware wallet company, has announced a significant update to its cryptocurrency management application, Trezor Suite. The new feature allows Solana (SOL) holders to stake their tokens directly through the Trezor wallet, providing enhanced security and convenience. This integration is made possible through a partnership with Everstake, a staking-as-a-service provider, enabling users to delegate their SOL tokens to validators directly from the Trezor Suite interface.
Staking SOL through Trezor Suite 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.
