BIGG Digital Assets Inc. Subsidiary Netcoins is Launching Staking in Canada
2023-05-16 08:00 ET - News Release
VANCOUVER, British Columbia, May 16, 2023 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca and Netcoins.com) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for North Americans to buy, sell, and understand cryptocurrency, and Blockchain Intelligence Group (blockchaingroup.io) (“BIG”), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce that Netcoins Canada will be launching Staking services for Ethereum (ETH). Netcoins received full approval to offer Crypto Staking Services in the Canadian market on May 15, 2023, from the British Columbia Securities Commission (BCSC), under its restricted dealer license. Netcoins has been a registered and compliant restricted dealer since 2021.
Netcoins President, Fraser Matthews, remarked, “We are pleased to announce the upcoming launch of Netcoins Staking which will allow Canadians to seamlessly earn and receive staking rewards in their Netcoins account. Netcoins will roll out staking with Ethereum (ETH) and intends to add Solana (SOL) as a fast follow to our portfolio. Over the past year, Netcoins has reinvigorated its mission to be North America’s most transparent and customer-focused, platform. By adding staking to our existing Netcoins Pay and crypto trading suite of over 35 assets, we believe that we are now amongst the leaders in the regulated Canadian crypto market when it comes to our suite of products.”
BIGG CEO, Mark Binns, commented, “Netcoins is now 1 of only 3 regulated crypto staking platforms in Canada, and this approval is a big step forward for our platform and future. This shows our high level of engagement with the Canadian regulators and our maturity - we have nearly 10 years of experience in the Canadian crypto industry. With staking, we look forward to welcoming new customers to the platform on the back of this substantial new offering.”
What is Staking?
Staking is the process of holding onto or "staking" a certain amount of cryptocurrency to participate in transaction validation. This occurs on a Proof-of-Stake (PoS) blockchain network, often considered a less resource-intensive alternative to mining in proof-of-work networks. By staking, individuals can earn rewards in the form of newly minted coins and help to secure the network. The key and simple takeaway for crypto investors is that staking is a means of earning rewards for holding onto cryptocurrencies.
Staking at Netcoins
Staking with Netcoins will be just as easy as using the rest of the platform. If a customer holds an eligible staking crypto asset, they can begin staking safely and transparently. By staking with Netcoins, customers can earn passive income from their cryptocurrency holdings while supporting the security of the network. The key and simple takeaway for Netcoins' 200,000 registered customers is that staking is a means of earning rewards for holding onto cryptocurrencies.
If you are new to Netcoins, you can start staking your funds in a few simple steps:
- Create a Netcoins account and deposit crypto or fiat holdings (you can buy crypto easily using market or limit orders right on the platform).
- Choose a staking an eligible coin that you would like to stake.
- Start staking your coins with just a few clicks.
- Keep your funds staked to earn rewards, or easily stop staking whenever you want to transfer or trade your funds.
On behalf of the Board
Mark Binns
CEO
ir@biggdigitalassets.com
Investor Relations
Victoria Rutherford
Victoria@adcap.ca
T: 1.480.625.5772
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG has three portfolio companies: Netcoins (netcoins.ca), Blockchain Intelligence Group (blockchaingroup.io), and TerraZero (terrazero.com).
Blockchain Intelligence Group builds technology to power compliance and intelligence for the crypto future. Banks and crypto companies depend on our technology to monitor risk from crypto transactions. Investigators and law enforcement quickly identify and track illicit activity. Blockchain Intelligence Group is trusted globally by banks, crypto companies, law enforcement, fintechs, regtechs and governments.
Netcoins offers safe and secure crypto trading in Canada and the USA, with a mission to make cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins has a robust product offering with Crypto Trading (US and CA), Netcoins Pay (CA) and Netcoins Staking (CA). Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via its cutting-edge Mobile and Web applications.
TerraZero is a vertically integrated Metaverse development group and a leading Web 3.0 technology company specializing in the Metaverse space. The Company’s Metaverse agnostic vision is to develop, acquire, and finance the Metaverse’s most promising companies, entrepreneurs, and developers. TerraZero also owns digital real estate and provides offices and services to those interested in the Metaverse. BIGG owns ~30% of TerraZero.
For more information and to register for BIGG’s mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR at www.sedar.com.