The income from altcoin staking will be 3.75% per annum on the Coinbase crypto exchange, it will be distributed every five to seven days
The crypto exchange Coinbase has added the possibility of staking the Cardano cryptocurrency. The current estimated annual return of staking an altcoin on the trading floor is approximately 3.75% per annum. After 20-25 days, the user will start receiving rewards to their account every 5-7 days.
You can sign up for a Coinbase account here and download the iOS or Android app to start earning staking rewards today.
Cryptocurrency remains on the user’s account, staking can be canceled at any time. Cardano is the fifth coin that Coinbase offers staking services for, after Algorand, Cosmos, Ethereum, and Tezos. The exchange plans to expand the list of assets in 2022.
Cardano is based on the Proof-of-Stake algorithm. This means that the performance of its network is not ensured by mining, as is the case with Bitcoin or Ethereum, but thanks to the owners of the cryptocurrency, who block it in a special smart contract and receive a reward for this in proportion to their contribution.
Altcoin ranks seventh in the list of the largest cryptocurrencies by capitalization. Over the past day, Cardano has risen in price by 15%, in a week – by 33%. The coin is trading at $1.12.
You can sign up for a Coinbase account here and download the iOS or Android app to start earning staking rewards today.
