Coinbase now allows its users to stake cardano (ADA) at 3.75% APY. The exchange said in a blog announcement that initial holding period completes within 20–25 days, after which users will get rewards in their accounts "every 5–7 days."
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Rupmalini Sahu, Senior Product Manager at Coinbase, said that even though individuals could stake cardano on their own, or via a delegated staking service, he noted that the process "can be confusing and complicated."
"With today's launch, Coinbase is offering an easy, secure way for any retail user to actively participate in the Cardano network and earn rewards," Sahu said.
He continued that the underlying return rate is calculated by the Cardano network, depending on the number of staking participants. Coinbase distributes the return to customers, but takes a 25% commission. Besides ADA, Coinbase also offers staking services for ETH (3.67%), ALGO (0.45%), ATOM (5%), USDC (0.15%) and others.
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