Coinbase Adds Cardano Staking Rewards | Coinparative
Coinparative

  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀
No Result
View All Result
  • About Us
  • Contact
  • bitcoin
    Bitcoin(BTC)
    $0.00-0.88%
  • ethereum
    Ethereum(ETH)
    $0.00-2.03%
  • usdex-stablecoin
    USDEX(USDEX)
    $0.00-0.53%
  • tether
    Tether(USDT)
    $0.000.050%
  • usd-coin
    USD Coin(USDC)
    $0.00-0.04%
  • binancecoin
    BNB(BNB)
    $0.00-0.99%
  • ripple
    XRP(XRP)
    $0.00-0.53%
  • binance-usd
    Binance USD(BUSD)
    $0.00-0.20%
  • cardano
    Cardano(ADA)
    $0.00-0.10%
  • dogecoin
    Dogecoin(DOGE)
    $0.001.42%
  • matic-network
    Polygon(MATIC)
    $0.00-3.29%
  • okb
    OKB(OKB)
    $0.007.26%
  • solana
    Solana(SOL)
    $0.00-1.97%
  • staked-ether
    Lido Staked Ether(STETH)
    $0.00-2.01%
  • polkadot
    Polkadot(DOT)
    $0.00-1.72%
  • shiba-inu
    Shiba Inu(SHIB)
    $0.000.210%
  • avalanche-2
    Avalanche(AVAX)
    $0.0010.89%
  • litecoin
    Litecoin(LTC)
    $0.00-0.34%
  • tron
    TRON(TRX)
    $0.00-1.04%
  • dai
    Dai(DAI)
    $0.00-0.08%
View All
Coinparative
Home News

Coinbase Adds Cardano Staking Rewards

March 24, 2022
in News
240 12
A A
0
Coinbase Adds Cardano Staking Rewards
Share on FacebookShare on Twitter

Coinbase, the publicly traded cryptocurrency exchange, has been on quite the listing spree over the last year, adding everything from ApeCoin (APE) to Wrapped Centrifuge (WCFG).

It’s also buffing up its staking options. The exchange announced today that it now offers staking for ADA, the native cryptocurrency of the Cardano blockchain.

In explaining the decision, senior product manager Rupmalini Sahu pointed to ADA’s top-10 market capitalization and its “flexible, sustainable, and scalable” blockchain design. That design uses smart contracts, similar to Ethereum and Solana, to enable decentralized finance, NFTs, and other activities on the network.

Cardano is a proof-of-stake cryptocurrency, meaning that its network is secured not through mining, as with Bitcoin, but by people committing a portion of their ADA holdings to the network. In return, they receive a share of newly minted ADA.

Because this “staking” process can be a bit overwhelming or time-consuming for average user, Coinbase and other exchanges offer to do it for them—pooling ADA together on the Cardano network, then redistributing a portion of the rewards. It’s estimating an annual return of 3.75%, to be distributed every five to seven days.

Cardano, the price of which has jumped today from $1.00 to $1.09 at publication time, is having a very good week relative to other prominent coins. ADA’s going rate is up 30% over the last seven days, compared to a 10% bump for Ethereum and 8% rise for Solana.

ADA is the fifth coin that Coinbase provides staking services for, after Algorand, Cosmos, Ethereum, and Tezos. Sahu says the exchange “plans to continue to scale our staking portfolio in 2022.”

That puts its staking goals in line with CEO Brian Armstrong’s expansionist tone. In June of last year, he tweeted, “Our goal is to list every asset where it is legal to do so.”

The exchange, which for a long time lagged behind in listings, now supports 168 different coins and tokens. It offered just around 60 to start off 2021.

Source: Decrypt

Share196Tweet123Share34Pin44ShareSend

Related Articles

FTX Co-Founder Sam Bankman-Fried Seeks Removal of Bail Restrictions on Crypto Asset Transfers – Bitcoin News
News

FTX Co-Founder Sam Bankman-Fried Seeks Removal of Bail Restrictions on Crypto Asset Transfers – Bitcoin News

January 28, 2023
1.4k
How crypto turned Portugal into a promised land for entrepreneurs
Blockchain News

How crypto turned Portugal into a promised land for entrepreneurs

January 28, 2023
1.4k
Litecoin’s Hashrate Reaches All-Time High, Difficulty Follows Suit – Altcoins Bitcoin News
News

Litecoin’s Hashrate Reaches All-Time High, Difficulty Follows Suit – Altcoins Bitcoin News

January 28, 2023
1.4k
Biggest Movers: DOGE up to 6-Week High, as AVAX Jumps 13% on Saturday
News

Biggest Movers: DOGE up to 6-Week High, as AVAX Jumps 13% on Saturday

January 28, 2023
1.4k
Token unlocks: short-term volatility brings long-term growth
Blockchain News

Token unlocks: short-term volatility brings long-term growth

January 28, 2023
1.4k
Bitcoin, Ethereum Technical Analysis: BTC Hovers Near $23,000 to Start the Weekend
News

Bitcoin, Ethereum Technical Analysis: BTC Hovers Near $23,000 to Start the Weekend

January 28, 2023
1.4k
Load More

Discussion about this post

Coinparative

2022 © All Rights Reserved.

Coinparative specializes in the digital News and research on cryptocurrency, Digital Assets and Blockchain

  • Advertise
  • Privacy Policy
  • Terms
  • About Us
  • Contact

Follow Us

No Result
View All Result
  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀

2022 © All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.