Coinbase allows users to stake Ethereum 2.0

According to a blog post, Coinbase customers can now sign up to stake ETH in the Beacon Chain smart contract, a major transition from the PoW network to PoS.

Typically, you need 32 ETH to run a validator node for ETH 2.0, but Coinbase as well as other exchanges will allow their users to stake any amount of ETH in their account.

Rhea Kaw, senior product manager for Coinbase’s retail group, says Coinbase users can earn up to 7.5% annual interest (APR) on their ETH, depending on the rate of return on exchange. exchange of the Ethereum network.

“Coinbase will receive commissions on all rewards received and our customer repayment rate reflects this commission,” Kaw said. According to the Coinbase User Agreement, this staking commission is 25% of the reward received.

In addition to the upcoming Ethereum staking option, Coinbase users can also stake Algorand (ALGO), Cosmos (ATOM), and Tezos (XTZ).

Besides Coinbase, exchange Kraken, Okex, Binance, Huobi … also stakes ETH on behalf of customers and is actively depositing ETH into Ethereum 2.0’s Beacon Chain smart contract. MyEtherWallet wallet also supports staking Eth 2.0 in the app.

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