Coinbase Now Allows Cardano Staking Services, Firm Plans to Continue to Scale Staking Portfolio – Bitcoin News - BitcoinEthereumNews.com
On March 23, the cryptocurrency exchange Coinbase anounced the platform will now allow cardano staking services. The companys 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 anouncement 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 anual 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. Sahus 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