Cardano (ADA) staking has been implemented into Trust Wallet, following in the footsteps of significant cryptocurrency exchanges.
Trust Wallet, a non-custodial mobile cryptocurrency wallet, tweeted on Tuesday that it now supports Cardano (ADA) staking.
The new staking feature is currently exclusive to Android-based devices. According to Trust Wallet, support for iOS devices will be released soon. Users have to select their preferred validator to start the staking process after picking the ADA token and clicking the “Stake” button in their app.
Thousands of cryptocurrencies are presently being managed by Trust Wallet over 70 blockchains.
The wallet was owned by Binance back in August 2018, making it the cryptocurrency company’s first-ever public acquisition. Trust Wallet released a browser extension last month that is available for download in Opera and Google Chrome.
With the implementation of the Shelley hard fork back in July 2020, Cardano introduced proof-of-stake to the widely known network. Binance.US began supporting Cardano staking at the beginning of September.
Early in 2021, Binance made staking for the ADA token accessible. Users were able to stake Cardano’s native token back in March thanks to Coinbase, the leading cryptocurrency exchange in America. It stated that it would generate a roughly 3.75% annual percentage yield on staked ADA.