Members of this new program must manage verified accounts and have a certain margin of funds in their Coinbase wallets. It is not available for Coinbase Pro users.
The international exchange Coinbase announced the launch of a staking program specially aimed at clients who wish to guarantee Tezos funds (XTZ) to generate profits.
According to the official communicate, this new program will be aimed at clients residing in the US, with which users can delegate their XTZ funds to Coinbase and this will be in charge of doing the corresponding procedures and consigning the earnings to Participants, without having to go through processes that may be confusing or carry the risk of loss of the corresponding assets.
Coinbase ensures that this is an easy and safe way for all people interested in supporting with their funds the proper functioning of the Tezos network, since the exchange generates an estimated annual return of 5% of the assets arranged for staking.
Some may wonder what staking is: The Proof of Stake protocol has a reward system that rewards users who hold (hold a cryptocurrency for passive income).
Total Token Management
Coinbase reports that the initial retention period would be about 30-45 days, so those interested in participating in this activity will receive their rewards every 3 days once the aforementioned period has ended.
In turn, the exchange informs that the funds remain in the wallet at all times, so the user can decide to use them if they wish and stop participating in the staking program if they are no longer interested.
In terms of earnings, the return rate is calculated based on the rewards generated by the exchange in the last 90 days. In this way, Coinbase distributes the respective earnings for this activity among the participating clients and keeps a part as a commission.
Among the respective criteria for users to participate in this program is that they reside in the United States, manage fully verified accounts and manage a minimum amount established for staking, which can be verified through the following link. It is important to keep in mind that this possibility is not available to Coinbase Pro customers.
In addition to the staking program, customers interested in learning more about digital currency can also participate in a special educational program called Coinbase Earn Tezos.
Similar to the program designed for DAI, people who participate in it can earn up to USD $ 6 in Tezos watching videos specially dedicated to digital currency and doing some tests arranged by the exchange.