Staking Wallet Review and everything you need to know about Cobo.
This Article is sponsored by Cobo and reviewed by the Staking Rewards Team.
Here we are presenting emerging projects, products and services of the staking sector.
This weeks selected project is Cobo. A cryptocurrency wallet with custodial and non-custodial integrated staking.
So let’s dig into it and figure out everything around Cobo.
Basics
What is Cobo?
Cobo is a digital asset wallet company that has staking built into its institutional and consumer-facing products.
Cobo aims to be a one-stop shop for everything related to digital assets.
Who is the Team behind Cobo?
Cobo’s headquarter is in Beijing and maintains operational offices in Shanghai, Xi’an, Hong Kong and Seattle. Cobo has a team of more than 70 engineers and customer service professionals to allow smooth and secure operations for users all around the globe.Cobo was founded in November 2017 by the current CEO Discus Fish and the current CTO Changhao Jiang, who have previously founded one of the biggest Bitcoin, Ethereum and Litecoin Mining Pools, F2Pool.
Cobo Products
Cobo Wallet
Cobo’s flagship mobile wallet app – Cobo Wallet – has reportedly more than 1 million global users and a mission to make it easy for everybody to grow and protect their crypto.
Cobo Wallet offers many crypto growth tools and pooled staking so that users can earn a passive income with their assets in a simple and transparent fashion.
Cobo Wallet also integrates native-staking dapps and empowers asset holders to participate in the growth and governance of their favorite projects.
Funds in the hot wallet are secured by Cobo’s security and infrastructure. Cobo Wallet also enables advanced users to manage their own private keys with the HD Wallet while still taking advantage of many of the best features.
Hardware Wallet
Cobo Vault is a hardware wallet specifically designed to enable secure cold storage of digital assets in a similar fashion to Ledger and Trezor. Unlike Ledger of Trezor, the Cobo Vault is entirely air-gapped and will even self-destruct if an attacker attempts to dismantle the device to access the security chips that protect users’ private keys.
The Cobo Vault eliminates WiFi, Bluetooth, NFC and cabled connections to prevent all attack attempts..
Supported assets are BTC, ETH, BCH, DASH, LTC, ETC, TRX and EOS.
Cobo Custody
Cobo emphasizes strong security and has made this the focus of it’s custodial offerings for institutions. With both joint and total custodial services clients can leverage Cobo’s infrastructure to ensure asset security. Cobo’s service is entirely customizable and offers an array of multi-signature authorization controls and a thorough security and verification process.
In addition to wallet services, Cobo Custody clients have the option to take advantage of Cobo’s staking plans, which ensure a constant growth of their digital asset portfolio.
Natively the product also offers a secure portal to manage their assets and execute transactions.
Cobo Custody currently supports more than 30 different mainchains and over 700 tokens.
Cobo Staking
Pooled Staking Custodial Service
Cobo has integrated a pooled staking feature into the Cobo Wallet to allow staking and earning interest for eight major cryptocurrencies with lower minimums than the protocol requires, including:
- Dash (DASH) with a 15% service fee estimating annual rewards to 6%
- Zcoin (XZC) with a 10% service fee estimating annual rewards to 16%
- V Systems (VSYS) with a 5% service fee estimating annual rewards up to 20%
- Iost (IOST) with a 50% service fee estimating annual rewards up to 15%
- Cosmos (ATOM) with a 0% service fee estimating annual rewards to 12%
- IoTeX (IOTX) with 10% service fee estimating annual rewards to 11%
- Loom Network (LOOM) with a 25% service fee estimating annual rewards to 7.5%
Native in-wallet pooled staking will soon be enabled for PIVX, XTZ, and ZEL as well.
Non-Custodial Staking as a Service
Cobo also operates public validator nodes on many sorts of PoS networks.
By delegating or leasing their staking rights, users keep full control of private keys and pay a small percentage of rewards as a fee to Cobo.
Current non-custodial staking services are operated for:
- IoTeX (IOTX) with a 10% service fee estimating annual rewards to 11%
- Iost(IOST) with a 50% service fee estimating annual rewards up to 15%
- Loom Network (LOOM) with a 25% service fee estimating annual rewards to 15%
- Cosmos (ATOM) with a 0% service fee estimating annual rewards to 12%
- V Systems (VSYS) with a 20% service fee estimating annual rewards up to 16%
In the near future Cobo plans to support many more assets such as Tezos, Algorand, Polkadot and Enigma.
Conclusion
From our research Cobo’s Team has a rich background in the blockchain industry and the Cobo Products offer a great variety of services that simplify the staking experience for consumers and institutions.
We believe the captured value by using the Cobo Staking Wallet is simplicity and ease of staking for users who prefer a one-stop solution.
Anyhow please consider this is a sponsored article and make sure to always do your own due diligence before using any kind of service or product.
To learn more, please feel free to visit Cobo’s Website or get in touch with their support team.