It’s been a big year for cryptocurrency and one of the most popular platforms for buying, selling, and storing digital assets, Coinbase, just got a whole lot bigger. In case you missed it, Coinbaseacquired a company called Paradex, which is a decentralized exchange that allows users to trade directly from their wallets.
This is a huge development because it means that Coinbase will now offer trading of hundreds of different digital tokens, including Cosmos (ATOM). So, can you stake Cosmos on Coinbase?.
The answer is… maybe. Staking is a process by which ATOM holders can earn rewards for helping to secure the Cosmos network. In order to do this, users must “delegate” their ATOM tokens to validators (which are similar to miners in other Proof-of-Work systems).
NOTE: Warning: Staking Cosmos on Coinbase is not currently supported. Attempting to stake Cosmos on Coinbase could result in the loss of your funds and can be a risky endeavor. It is best to wait until Coinbase officially supports staking Cosmos before attempting it.
Validators then use these delegated tokens to help validate transactions and add new blocks to the blockchain. If they do this successfully, they earn rewards in the form of newly minted ATOM tokens.
So, what does this have to do with Coinbase? Well, currently, the only way to delegate your ATOM tokens is through the official Cosmos Wallet. However, it’s possible that Coinbase could eventually offer this functionality as well.
After all, they already offer staking for several other digital assets, including Tezos (XTZ) and Algorand (ALGO). So it’s not out of the question that they could eventually add support for Cosmos staking as well.
Of course, there’s no guarantee that Coinbase will ever offer staking for ATOM or any other digital asset. However, given their recent acquisition of Paradex and their history of supporting new assets and features, it’s certainly possible that they could eventually add support for Cosmos staking. So if you’re looking to get involved in staking ATOM tokens, keep an eye on Coinbase!.
7 Related Question Answers Found
As one of the most popular cryptocurrency exchanges, Coinbase offers a variety of features and functions that make it a go-to choice for many crypto investors. One feature that Coinbase offers is the ability to stake certain types of cryptocurrency on the platform. Staking is a process whereby users can earn rewards for holding onto their cryptocurrency and keeping it in their Coinbase account.
Most people have heard of Coinbase, one of the most popular cryptocurrency exchanges in operation today. What many don’t know is that you can actually buy Save Planet Earth (SPE) on Coinbase! Here’s a step-by-step guide on how to do it.
Yes, you can buy Terra Luna on Coinbase. Coinbase is a digital asset exchange company founded in 2012. They are headquartered in San Francisco, California.
As of now, Coinbase does not support the direct purchase of Luna with fiat currency. In order to buy Luna on Coinbase, you must first purchase another cryptocurrency that is supported on the platform, such as Bitcoin or Ethereum. Once you have done so, you can then use that cryptocurrency to purchase Luna on a decentralized exchange.
As of now, there is no way to directly purchase Terra Luna on Coinbase. However, there are a few workarounds that may be of use to those looking to invest in this altcoin. Perhaps the most straightforward method would be to first purchase another cryptocurrency that is available on Coinbase, such as Bitcoin or Ethereum.
It’s been a big year for Sol. The decentralized cryptocurrency exchange announced in September that it had raised $1.5 million in seed funding from a number of high-profile investors, including Coinbase Ventures, the investment arm of the popular US-based cryptocurrency exchange Coinbase. This was a significant vote of confidence in Sol and its potential to become a leading player in the decentralized exchange space.
As of right now, you cannot stake ICP on Coinbase. ICP is not a Coinbase-supported asset. In order to stake ICP, you will need to use a different platform.
