Coinbase is one of the most trusted cryptocurrency exchanges in the world. The trading platform is available in over 100 countries making it easier for investors to transact cryptos of their choice. Apart from the traditional trading app, Coinbase also has a ‘Coinbase Wallet’ which gives complete control of the keys to the user.
The private keys will be stored directly on the users’ devices than on the crypto exchange. In addition, Coinbase also has a feature that allows users to stake cryptocurrency to earn passive or regular income from their assets. This brings in extra income and your cryptos will be put to work.
This article will guide you on how to stake your cryptocurrency on Coinbase to earn additional or regular income.
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How To Stake Cryptocurrency On Coinbase
Several investors stake their cryptocurrency on Coinbase to earn extra income from their holdings. To stake your cryptocurrency on Coinbase follows the below steps:
- Create a Coinbase account. You can get started from here.
- Once you are logged into the Coinbase account, select the option ‘Proof of stake’ cryptocurrency.
- The option opens up a list of cryptocurrencies that you can purchase and stake.
- Purchase the intended cryptocurrency that you would like to stake and complete the transaction.
- Once the transaction is complete, select the tab ‘Stake’ from the right top corner dropdown.
- Read the terms and conditions about the returns and timeline and click on ‘accept’ if you wish to continue.
- Click on ‘stake’ and deposit the number of tokens you would like to stake that you purchased on Coinbase.
- Once you have deposited the required amount of cryptos, Coinbase begins to stake your cryptos automatically.
- The staking rewards will be sent directly to your wallet as per the terms and conditions mentioned.
Note- Only cryptos that are purchased from the ‘proof of stake’ option can be staked on Coinbase.
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