By Rhea Kaw, Product Manager
Starting today, eligible customers can easily start earning 5% APY on their Cosmos (ATOM) held on Coinbase. Cosmos Staking Rewards is now available in the US, UK, France, Spain, Netherlands, and Belgium. Customers can securely keep their assets on Coinbase and instantly trade or withdraw their holdings and rewards when they want.
Cosmos is a Proof-of-Stake (PoS) blockchain, which incentivizes participants to help secure the blockchain network by staking their assets in exchange for sharing in the rewards. Staking on your own is difficult and time intensive, which is why we’re focused on bringing the benefits of different cryptocurrencies to our customers in the easiest and most secure way possible. The more accessible we can make it, the faster the cryptoeconomy will grow.
Coinbase is always looking for ways to enable easy and secure participation in the cryptoeconomy. Just last fall we launched staking rewards for Tezos, and since then, we’ve distributed millions of dollars worth of Tezos rewards to our customers. Customers can expect to see more staking rewards opportunities in the coming year.
To get started, simply buy ATOM on Coinbase or deposit ATOM to your Coinbase account, and you’ll start generating rewards right away.
For eligibility criteria and full details, please visit our support center.