As the world’s largest cryptocurrency exchange, Coinbase has been at the forefront of the digital asset revolution. Founded in 2012, Coinbase allows users to buy and sell cryptocurrencies, as well as store them in a wallet on the platform.
In recent years, Coinbase has expanded its services to include a cryptocurrency brokerage, custody service, and now a staking service. But can you stake crypto on Coinbase?.
The answer is yes! As of November 2020, Coinbase supports staking for eight different cryptocurrencies: Algorand (ALGO), ATOM, EOS, TEZOS (XTZ), LOOM, COMP, ETC, and CVC. To start staking on Coinbase, simply deposit your cryptocurrency into your account and then click on the “Stake” button for the relevant asset. From there, you can choose how much you want to stake and for how long.
For example, if you stake 1 ATOM for 30 days, you will earn approximately 0.43% in rewards over that period.
Not only is staking crypto on Coinbase easy and convenient, but it’s also one of the safest ways to earn rewards. That’s because when you stake your cryptocurrency on Coinbase, it is held in a secure offline storage system known as cold storage.
This means that your funds are always safe and inaccessible to hackers.
If you’re looking for a way to grow your cryptocurrency portfolio without having to put any money down, staking is a great option. And with Coinbase supporting staking for multiple assets, it’s never been easier or more convenient to start earning rewards.