Skip to main content

Coinbase Now Allows Cardano Staking Services, Firm ‘Plans to Continue to Scale Staking Portfolio’

On March 23, the cryptocurrency exchange Coinbase announced the platform will now allow cardano staking services. The company’s senior product manager Rupmalini Sahu mentioned that cardano is one of the top ten crypto assets by market cap and its proof-of-stake (PoS) blockchain “seeks to be more flexible, sustainable, and scalable.”

Coinbase Now Offers Cardano Staking Services

Cardano (ADA) holders can now leverage the cryptocurrency trading platform Coinbase to stake their ADA, according to an announcement from the Coinbase executive Rupmalini Sahu. The firm’s senior product manager said that while people can stake on their own by delegation, Coinbase’s staking is “easy [and] secure.”

According to Sahu, the current staking annual percentage yield (APY) on Coinbase is 3.75% and after a probation period of 20-25 days, users can then obtain rewards with the exchange. The Coinbase blog post stresses that the users “always maintain control” and claims “your Cardano always stays in your account; you just earn rewards while keeping your crypto safely on Coinbase.” Furthermore, the company says ADA stakers can opt-out at any time. Sahu’s blog post adds:

The Cardano network sets the underlying return rate depending on the number of staking participants. Coinbase distributes the return to customers, less a commission.

Cardano Is Coinbase’s 5th Staking Product, Senior Product Manager Says Firm ‘Plans to Continue to Scale Staking Portfolio’

The trading platform’s latest product addition follows a class-action lawsuit that has been filed against the Nasdaq-listed cryptocurrency exchange. Coinbase is being sued for allegedly listing 79 unregistered securities and cardano (ADA) is mentioned in the list. After the ADA staking announcement, the crypto asset cardano jumped roughly 20% higher during the last 24 hours.

The cardano (ADA) staking product from Coinbase is the company’s fifth staking service to date. Currently, besides ADA, Coinbase customers can stake tezos, ethereum, cosmos, and algorand. According to the Coinbase senior product manager, more coins will be added to the firm’s “staking portfolio in 2022.”

What do you think about Coinbase adding cardano staking services? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/SkJZrmi
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Seven UK Companies Form Cryptocurrency Trade Body

Seven major crypto companies operating in the UK have announced the formation an independent cryptocurrency trade body. The group, Crypto UK, has stated that its principal aim is to “improve industry standards and engage policymakers.” Also Read:   Independent Ratings Agency Alerts Investors About Dangers of Tether Leading Cryptocurrency Companies form Crypto UK Trade Body Seven leading cryptocurrency companies operating the UK have formed an independent trade body tasked with developing self-regulatory standards for the cryptocurrency industry, in addition to “engag[ing] policymakers.” The members of Crypto UK are Coinbase, Etoro, Cex.io, Blockex, Commerceblock, Coinshares, and Cryptocompare – comprising trading platforms, exchanges, asset managers, merchants, comparison websites, and intermediaries from the cryptocurrency sector. “Regulation is Imminent” The Crypto UK chairman and managing director of Etoro, Iqbal Gandham, described the trade body’s mission as “promot[in...
41 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more