Coinbase has announced the introduction of staking, valid only for certain countries in Europe, thus allowing them to put crypto assets to good use.
Staking Rewards is now available for customers in the UK, France, Spain and the Netherlands. https://t.co/eu9mDJgJTT
Since launching in the US last fall, customers have earned over $2 million in Tezos staking rewards. pic.twitter.com/3RbHFC0gX9
— Coinbase (@coinbase) May 28, 2020
The exchange, in the announcement post, recalled the commitment it puts into offering the best possible service to its users, for which it stores cryptocurrencies.
Coinbase and staking with Tezos
As far as staking is concerned, the Coinbase exchange will start from staking XTZ, which has led American users to earn over $2 million in Tezos.
Staking must be carried out by holding the crypto between 34 and 40 days, whereas the payment of the reward will take place every 3 days, as explained in this updated guide.
Note that the interest received in exchange for these tokens is around 5%, which is variable and will fluctuate over time depending on how the network behaves, the number of participants and so on.
At least for now, participants will only be able to access from their account to activate this function. In France, Tezos has been recently introduced in the tobacconist’s circuit and in more than 10 thousand shops, allowing a greater diffusion of the XTZ crypto.
The latest news about Tezos
Tezos has only recently entered into a partnership with Chainlink; moreover, thanks to its staking feature, it falls into the category of decentralized finance (DeFi) because by locking tokens, i.e. staking them, there is an economic gain in XTZ linked to the current quantity and rate, which is calculated on the basis of the network and its use.