Coinbase has finally added Cardano (ADA) to its staking portfolio.
For the unversed, Cardano is one of the most valuable Cryptocurrencies by Market Cap.
Ever since the news of Cardano adding to the Coinbase staking portfolio broke on the internet, a lot of people started searching for ways to stake Cardano on Coinbase and if that’s you then look no further as we have you covered.
Without any further ado, let’s get started:
Staking Cardano On Coinbase Guide
The reason why everyone wants to stake Cardano (ADA) on Coinbase is that when Cryptocurrencies are staked, they make the underlying blockchain of that asset more secure and efficient.
In exchange for staking Crypto, stakeholders are given rewards in the form of assets.
If you stake Cardano on Coinbase, you are most likely to get a 3.75% return once a year is completed.
Yes, Cardano’s Annual Percentage Yield (APY) is 3.75%.
Once your initial holding period completes 20 to 25 days, you will start getting rewards in your Coinbase account every 5 to 7 days.
The best thing about staking Cardano on Coinbase is that it will be entirely controlled by you. Yes, you can move or unstake Cardano at any time.
Here’s how to stake Cardano on Coinbase:
- Visit Coinbase’s official website.
- Buy Cardano or deposit it to your Coinbase account from an external wallet.
- Once you have successfully purchased or deposited Cardano to your Coinbase account, head to the ‘Coinbase Staking‘ page.
- Once you are on the staking page, select ‘Cardano’.
- Once selected, click on the Stake Now button.
- That’s it.
Note: Most exchange platforms give you an option to select your staking duration.
If you withdraw your ADA before the end of the staking duration, you would not the Coinbase staking rewards.
That’s everything you need to know about how to stake Cardano (ADA) on Coinbase.