17.8 C
New York
Tuesday, September 28, 2021

Buy now

Coinbase enabled Ethereum staking in a simplified way for its clients


Coinbase, the cryptocurrency exchange, announced yesterday September 2 that customers from Germany and the United Kingdom will now be able to access Ethereum’s staking function to earn cryptocurrencies by making their funds available to the network. Here are the details.

Ethereum can be staked on Coinbase

The CEO of Coinbase Europe released details about the change that will be made to optimize access to Ethereum staking. Among the details discussed, he talks about the transition from ETH to ETH2, highlighting firstly that the fork or update aims to improve the possibility of scaling and improving the security of the network; although this will only be possible by changing the consensus protocol from PoW to PoS.

Also discuss how investors or holders of ETH will benefit; which, according to their statistics, have been increasing considerably in recent months. So this data validation or proof of stake process has been simplified for Coinbase users.

The network will offer Ethereum stakers up to 5% interest on their assets.

Exactly his words were:

We have seen the number of individuals buying Ethereum steadily increasing. Therefore, we think that simplifying the staking process, which is complex to do individually, can facilitate user access to this new feature of the cryptocurrency.

Coinbase European General Manager Marcus Hughes.

Clarifications from the European General Manager

As mentioned before, it is a quality that only Coinbase users from Germany and the United Kingdom will be able to enjoy specifically; although it is likely that this alternative will be extended to other countries later on.

At the moment, only these details are known, and how the rewards will be awarded; that in this regard, Marcus Hughes mentioned the following:

With the transition from ETH to ETH2 the system automatically adds the coins to the Coinbase staking pool, which will help improve network security while generating interest for token holders. We (Coinbase) bet on behalf of our clients, while facilitating access to one of the most important functions of ETH2.

Coinbase European General Manager Marcus Hughes.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected


Latest Articles