Coinbase Custody adds staking support for Cosmos and Algorand tokens
May 21, 2020, 4:35AM EDT
1 min read
Coinbase Custody has launched staking services for Cosmos (ATOM) and Algorand (ALGO) tokens.
The move allows Coinbase Custody’s clients to stake the two tokens and earn passive income. The rates of return and fees are currently unknown. The Block has reached out to the firm and will update this story should we hear back.
Coinbase Custody already supports staking for Tezos (XTZ) token and remains the largest operator of a Tezos staking validator, despite charging the highest fees at 25%.
Kraken and Binance currently charge no staking fees.
Several exchanges have recently ventured into staking, including Binance.US and Bitfinex. The former supports all three tokens that Coinbase now supports - Tezos, Cosmos and Algorand, while the latter currently supports Cosmos, EOS, and V.Systems.
Binance, on the other hand, currently supports over 15 coins, including Tezos, Cosmos, Algorand, and EOS.
Correction: This report has been amended to reflect that Kraken does not charge fees for staking.
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