NEM announced a new strategic partnership with a staking service platform. MyContainer is the new partner that will help NEM provide staking options more accessible to its users. NEM is looking for multiple opportunities in the new partnership that will help the platform and users alike.
According to NEM:
“As part of NEM’s ongoing partnership strategy to strengthen both our existing NIS1 platform and to provide an opportunity to the NEM Community to stake their XEM, we are pleased to announce a new strategic partnership with MyCointainer.”
Providing Staking Options to Incentivize XEM Holders
Staking is becoming a standard option for crypto-enthusiasts. Many cryptocurrency projects provide the opportunity for their users to have extra earning from their holdings.
Despite the minor difference between staking services, they all offer a similar process to lock assets and earn rewards. MyContainer is one of them that will provide a staking option for XEM as a result of the new partnership with NEM. XEM holders can lock their assets in MyContainer wallet and earn staking rewards easily.
Staking XEM in MyContainer is not that different from other wallets and coins. You will have full control over your holdings. Monitoring the staked assets and their rewards is easy through applications. According to NEM:
“The online and automatic staking and masternode platform offers access to staking pools, making the potential rewards more stable, and the longer the XEM is staked, the greater the potential rewards.”
The new partnership between NEM Group and MyContainer can help the NEM community find new users. Mainstream financial customers looking for similar services like traditional ones now have the opportunity to benefit from one of them. Staking has always been a common use-case for holders, and NEM customers will enjoy it, too.
As mentioned before, staking XEM in MyContainer is very easy. You have to sign-up for a new account in MyContainer or sign-in to an existing one. Then transfer the desired amount of XEM to the staking wallet. MyContainer will start generating rewards based on multiple algorithms. The wallet will show the amount of earned rewards. According to NEM, MyContainer will earn a 2.23% commission from XEM rewards.
Strategic partnerships between cryptocurrency projects and wallets have always been critical in improving the ecosystem. When new wallets and exchanges start supporting a coin, old users will have more incentive in using their holdings. Besides, new users will be attracted because of the more supporting platforms they see around a coin.
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