RATE Group | Coinbase Cryptocurrency Exchange Opens Tezos Staking to All US Customers
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Coinbase Cryptocurrency Exchange Opens Tezos Staking to All US Customers

07 Nov Coinbase Cryptocurrency Exchange Opens Tezos Staking to All US Customers

Posted at 02:40h in Cryptocurrency News by

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United States-based cryptocurrency exchange and wallet service Coinbase said today that it has expanded access for staking the cryptocurrency Tezos (XTZ).

In a blog post on Nov. 6, Coinbase announced that it is now introducing staking rewards for all Tezos holders on Coinbase, so that each eligible U.S. customer can earn interest on their XTZ holdings for depositing and holding the token on the platform.

The estimated return for Tezos staking is around 5%

Staking lets customers passively earn income with their crypto by holding funds in a cryptocurrency wallet to support the operations of that tokens’ network. Staking purportedly makes the underlying blockchain of that asset more secure and more efficient. In exchange for locking up their assets in a staking wallet, customers get rewarded with more assets from the network.

The institutional asset custody arm of Coinbase, Coinbase Custody, already launched its staking service for Tezos back in March. Kathleen Breitman, co-founder of…

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