After delaying several times, Ethereum 2.0 had finally made an entry into the crypto-verse. While only Phase zero of the network-wide upgrade made it to the industry, all the other phases are yet to be rolled out. Just as the network is prepping for its huge transition from proof-of-work [PoW] to proof-of-stake [PoS], prominent cryptocurrency exchange, Coinbase affirmed its support for Eth2, specifically by offering staking rewards.
In a recent blog post, the crypto platform announced the latest addition and joined several other exchanges in onboarding Ethereum 2.0.
Ethereum Can Get Coinbase Users Yield Up to 7.5%
Just a few months prior to the launch of Ethereum 2.0 aka Serenity, Coinbase had revealed that it would aid the staking rewards bit of Eth2. Coinbase seemed to be keeping its word as the exchange now offers a waitlist that can be joined by those who wish to stay on par with the potential rollout of the Ethereum 2.0 staking rewards.
In its most recent blog post, Coinbase pointed out that those holding ETH would be able to earn an annual staking reward of about 7.5% just by holding ETH. While this process can secure the ETH blockchain better, the exchange urged people to get in on the action. Those who make it to the waitlist would be offered an array of services once Ethereum 2.0 is rolled out.
Elaborating on the perks of joining the waitlist, the post further read,
“Once off the waitlist, there are no minimum amounts required to stake, and customers can convert, stake, and earn rewards on a portion of Ethereum instead of their entire balance. They will also be able to see their rewards add up in real-time through the lifetime rewards ticker in the Coinbase app or on Coinbase.com.”
As of now, the crypto exchange offers the staking rewards service to Cosmos as well as Tezos, ETH seems to be the latest in the list.
This feature is available for everyone except for those residing in New York.