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Cred will now allow in-app staking with Klever Wallet

Photo of: Dennis Ramos
by Dennis Ramos

Klever is a cryptocurrency platform designed to solve two macro-level issues that the cryptocurrency industry faces. One of the crypto security problems that are rampant even now in leaps and bounds and the other is the user experience problem. Klever acts as a reliable bridge that safely and securely connects the world of fiat currencies and cryptos. 

What will the new service offer?

Cred is a staking as well as a lending platform that allows users from more than 150 nations to lend their cryptocurrency funds. In return for these funds, they get monthly rewards in fiat currencies, stablecoins, or even cryptos. Cred holds a license as a lender and leverages a great balance sheet as well as a proprietary technology to provide business and retail credit which allows its customers to earn a yield on more than 30 cryptos and fiat currencies through its partner network. 

Benefit to users

As per the new feature offered, Klever users will be able to opt from the staking programs listed on Cred for the monthly rewards they can earn. The user has to wait for the in-app staking to go live and once that happens, it will allow users to stake Bitcoin, Ether, and Tron without having the need to hold any minimum number or benchmark. And if that’s not enough, users will also be able to select how they would like to get their monthly interest. They can opt for either ERC-20 stablecoins or opt other currencies such as BTC, ETH, TRX, LINK, and Basic Attention Token (BAT).

The CEO of Cred, Dan Schatt enlightened that the companies will be working symbiotically to achieve a common goal. It will opt for a revenue-sharing model in which Klever would get to keep a commission for enabling a staking process for its users with Cred. 

Misha Lederman, Director of Communications and Marketing for Klever, for starters users, will not get their rewards directly in fiat currencies but in the coming few months they will be able to do it after the launch of their new product called Klever Bank.  Additionally, Klever would let its users exchange Cred’s utility token LBA for others like BTC, TRX, ETH, Tether, 

Future plansAt the present moment, Klever supports only three public chains namely Bitcoin, Ethereum, and Tron. But the ensuing strategies will also add more support for additional chains which will include DogeCoin (DOGE), EOS (EOS), Stellar (XLM), Litecoin (LTC), DigiByte (DGB), Bitcoin Cash (BCH), and XRP. Momentarily speaking it will stick to these three, but subsequently, as the platform’s innate robustness increases, it will bring support for more cryptocurrencies. In the future, if the partnership becomes successful users will be able to take advantage of more cryptocurrencies available later for staking with Cred and within the Klever app.