Coinbase rolls out staking for ADA
Will continue to scale its staking portfolio
Coinbase recently expanded its staking offerings to include Cardano (ADA) staking, with plans to continue scaling its staking portfolio in 2022.
“With today’s launch, Coinbase is offering an easy, secure way for any retail user to actively participate in the Cardano network and earn rewards,” Coinbase said in a blog post.
The crypto exchange indicates that annual returns are estimated at around 3.75%. After holding for 20-25 days, users will generate rewards, which will get distributed every 5-7 days. If you decide to stake Cardano, Coinbase has noted that you can withdraw at any time.
This announcement comes amid a broad portfolio expansion on Coinbase. Currently, ADA is the 5th cryptocurrency that can be staked on Coinbase, following recent support for Ethereum (ETH), Tezos (XTZ), Algorand (ALGO), and Cosmos (ATOM).
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