Coinbase Launches Tezos (XTZ) Staking Program for U.S. Traders | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
Coinbase, a leading U.S.-based crypto exchange now lets Tezos (XTZ) holders stake their tokens right from their Coinbase wallet and earn rewards. The exchange has also introduced the Coinbase Earn Tezos campaign, which enables anyone in a Coinbase-supported jurisdiction to earn up to $6 worth of XTZ by performing simple tasks, according to a blog post on November 6, 2019.
Tezos (XTZ) Staking
Building upon the success of the Tezos (XTZ) staking service introduced by Coinbase Custody earlier in March 2019, Coinbase exchange has now rolled out Tezos staking for all U.S. residents on its platform.
As stated in its blog post, Coinbase now stakes Tezos (XTZ) on behalf of its U.S. customers and all staking rewards are automatically sent to users’ wallets
For those who are unaware, staking enables holders of proof-of-stake (PoS) based altcoins to participate in securing the network and earn rewards in return, just the same way Bitcoin miners get rewarded with BTC for their mining efforts. However, in staking, participants are not required to purchase a piece of mining equipment.
Though it is possible for XTZ hodlers to stake their coins via a delegated staking platform of their choice that supports Tezos, Coinbase claims its new service simplifies the entire staking process for customers whilst also adding extra security.
“While it’s possible to stake Tezos on your own or via a delegated staking service,