Coinbase is offering up to 7.5% APR in rewards on Ethereum staked
- Coinbase users can sign up to be “first in line” to earn Ethereum 2.0 staking rewards when the exchange offers them.
- Coinbase users can earn up to 7.5% APR on what they stake.
- Other exchanges are already offering Eth2 staking rewards.
Before Ethereum 2.0 went live over two months ago, Coinbase promised it would support staking to the new network.
Today, it opened its waitlist. Exchange users interested in locking down all or a portion of their ETH holdings can sign up to earn up to 7.5% APR on what they stake.
“By joining the waitlist today, customers will be first in line to earn ETH2 staking rewards,” said Coinbase’s senior product manager for retail, Rhea Kaw, in a blog post today. “The ability to earn rewards, simply by holding cryptocurrencies, is made possible only with crypto-based financial services.”
Coinbase already offers staking rewards for other blockchain networks, namely, Tezos and Cosmos. Rival cryptocurrency exchanges such as Kraken are already offering Eth2 staking rewards, meaning Coinbase must move from waitlist to execution to keep up.