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how to stake on coinbase
To begin staking on Coinbase, users must establish an account, deposit funds, select eligible assets, activate staking, specify a staking amount, confirm the transaction, monitor rewards, and have the option to unstake assets later.
Oct 27, 2024 at 07:16 pm
- If you don't have a Coinbase account, create one by visiting https://www.coinbase.com and following the prompts.
- Verify your identity and residence.
- Deposit funds into your Coinbase account using supported payment methods such as bank transfers, debit/credit cards, and PayPal.
- Navigate to the "Coinbase Learn & Earn" page and look for eligible staking assets.
- Currently supported assets include Tezos (XTZ), Cosmos (ATOM), Algorand (ALGO), Celo (CELO), Dai (DAI), and Ethereum 2.0 (ETH2).
- Click on the "Stake now" button for the asset you wish to stake.
- Follow the on-screen instructions to confirm your details and activate staking.
- Select the amount of the asset you want to stake.
- You can stake as much or as little as you want, depending on the minimum requirements for the asset.
- Review the terms and conditions, including potential rewards and risks.
- Click "Confirm stake" to initiate the staking process.
- Your staked assets will start earning rewards over time.
- You can track your staking rewards and compound (re-stake) them by visiting the "Rewards & Products" section under your Coinbase account.
- Staking is not permanent. You can unstake your assets at any time.
- Unstaking typically takes several days, depending on the asset and network conditions.
- Once your assets are unstaked, you can withdraw them or stake them elsewhere.
- Staking rewards vary depending on the asset and the current network conditions.
- Coinbase charges a small fee for staking services, which is deducted from your rewards.
- Keep in mind that staking involves certain risks, including potential loss of assets or reduced rewards due to network issues or protocol changes.
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