Coinbase Expands Staking Offerings to Include Solana

Coinbase expands Staking Offerings to include Solana

The Crypto exchange firm Coinbase Global has expanded its staking reward offerings to include Solana.

As per reports, the base balance needed for users to start staking Solana is $1. Payouts will happen every seven days.

Solana will join the list of tokens that can be staked on Coinbase including Cosmos, Ethereum, Algorand, Cosmos, Tezos, Dai and Cardano. Solana’s addition will allow users to streamline how they stake their tokens and earn rewards using Coinbase’s platform.

In order to stake Solana, a Coinbase user must have their identity verified on the platform. The firm also informed that the user must be a resident in a place where staking is allowed.

Unfortunately, the crashing crypto market has been instrumental in the downgradation of Coinbase’s corporate debt by rating’s agency Moody. 

Also read: Goldman Sachs: Coinbase Could Face ‘Further Degradation’

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