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Cardano (ADA) Can Now Be Staked on Apple Devices via This Integration

Wed, 12/28/2022 - 11:42
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Gamza Khanzadaev
Users can now stake ADA in Trust Wallet on iOS after latest upgrade is conducted
Cardano (ADA) Can Now Be Staked on Apple Devices via This Integration
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Cardano's native token, ADA, has become available for staking on Apple devices that use the iOS operating system. In particular, the innovation has been implemented through the functionality of Trust Wallet, a noncustodial "hot" wallet for storing crypto assets. Initially, such a feature was only available in Trust Wallet on devices supporting the Android operating system.

The minimum amount that can be staked is 4 ADA. Tokens and rewards for staking will automatically be restaked at the end of each epoch, as is customary on Cardano. What is more, the functionality allows you to choose your own validator pool, of which Cardano currently has more than 2,700, according to Cexplorer.

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What's up with Cardano (ADA) staking?

Being a proof-of-stake blockchain, staking is of defining importance to Cardano, so the ability to seamlessly delegate ADA to staking from an iPhone seems like a very positive development — especially given Trust Wallet's user base of tens of millions and the fact that the wallet's parent company, Binance, is the largest staking provider for ADA.

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Currently, the number of Cardano tokens in staking is 25.08 billion ADA, or 72% of the total token supply. Thus, the capitalization of Cardano tokens in staking is $6.3 billion. Despite the drop in ADA's price, the number of new wallets, as well as the number of tokens in staking, is regularly increasing.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.