If you have been taking crypto investment in a serious context lately and now you wish to take a step forward in your journey with this, then crypto staking would be the best choice for you. For example, if you have some surplus crypto tokens with you and you are not planning to use them any sooner, then you can put these tokens at stake. Well, a Coinbase user can easily use the Coinbase staking feature to earn great rewards or interest on his crypto holdings.
But, there are some users who are not aware of the process to stake their cryptos. Also, some users are also not aware of what staking actually is. Thus to help users with Coinbase staking, we have made a complete discussion on this topic.
Although it may sound a little complicated to the users at first, you may still be able to have an understanding of the same once you know what it is and have used this feature.
What is staking?
Well, staking is also a form of investment and you can earn rewards through it. When you stake cryptos, it means you are creating a hold on some of the cryptos and when you hold those cryptos, you will be provided with rewards for those holdings. Currently, staking can be done through platforms such as Tezos, Ethereum (via the ETH2 up-gradation), and Cosmos. When you "stake" your crypto tokens to a liquidity pool, you can earn interest.
How to stake ETH through Coinbase?
For staking ETH through the Coinbase Staking feature, you need to complete some basic pre-requirements first. For example, in order to stake cryptos through this platform, you need to fulfill some pre-requirements and the details of these requirements have been listed below:
- Make sure you have enough ETH holdings in your Coinbase account
- Also, ensure that you are living in a place where staking is legal
- It is a must that you have completed the identity verification process on Coinbase
- In addition to this, you also need to ensure that you have verified your documents as well
- Make sure you have gone through the terms and conditions required for Coinbase staking
Conclusion:
If you are an individual who is interested in crypto Coinbase staking, then you can easily hold your cryptos and earn rewards through it. Since business users are not allowed to stake, therefore being an individual crypto investor is necessary for this instance. For staking through Coinbase, please go through the details furnished here carefully.