Coinbase launches waitlist for Ethereum 2.0 staking rewards

advertisement

Crypto exchange Coinbase has today opened up a waitlist for Ethereum 2.0 staking rewards after initially announcing support last November.

Coinbase said Tuesday that its customers will be able to earn up to 7.5% per annum staking rewards for holding ether (ETH). The rewards include a 25% commission, meaning the net returns for customers will be lower by that percentage.

Besides staking rewards on ETH, Coinbase will also allow trading for any staked ETH "in the coming months." This would be an essential feature since staked ETH remains locked and cannot be withdrawn until phase 1.5 of Ethereum 2.0 goes live, sometime in 2022.

When asked when the Eth2 staking service will go fully live, a Coinbase spokesperson told The Block: "Very soon." The waitlist isn't open for New York residents. 

More people are staking their ETH holdings to earn rewards, as The Block reported last week. Thus far, more than 3 million ETH, worth more than $5.2 billion at current prices, has been deposited in the Eth2 staking contract.

With Eth2, Coinbase now supports three coins for its staking rewards service, including Tezos and Cosmos. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

The TRON Ecosystem Thrives Amidst Market Chaos

TRON DAO has announced the launch of a $10 million incentive fund in light of recent events to support Terra developers migrating to the TRON ecosystem, including TRON’s EVM compatible cross-chain solution BitTorrent Chain (BTTC), which helps facilitate the seamless transfer of assets across mainstream public chains, including TRON, Ethereum, and BNB Chain. 
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC