Coinbase Expands Staking Offerings to Include Solana | by Coinbase | Jun, 2022

Tl;dr: Today, Coinbase is announcing an easy and secure way for eligible customers to earn staking rewards on Solana (SOL).

By Thorsten Jaeckel, Senior Product Manager

At Coinbase, we’re focused on offering more ways for customers to earn crypto rewards. Today, we’re announcing the expansion of our staking offerings to include Solana (SOL) with plans to continue to scale our staking portfolio in 2022. Solana staking will be progressively rolled out to all eligible customers.

While it has been possible for individuals to stake Solana on their own, or through a delegated staking service, 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 Solana network and earn rewards.

With Coinbase staking:

• Start earning automatically. Once you buy Solana, you automatically start earning rewards via staking. The current estimated annual return for Solana staking on Coinbase is ~3.85% APY.¹ You’ll receive rewards in your account every 3–4 days
• You will always maintain control. Your Solana always stays in your account; you just earn rewards while keeping your crypto safely on Coinbase. You can opt out any time you want²
• Watch your rewards grow. See your rewards accrue in your account
• Earn on as much as you want. Start earning with as little as $1
• Your peace of mind is our top priority. We take measures to mitigate the risks associated with staking and allow you to unstake anytime.

The Solana network sets the underlying return rate depending on the number of staking participants. Coinbase distributes the return to customers, less a commission.

You shouldn’t have to be an expert crypto trader to grow your crypto portfolio. Offering simple ways for our customers to earn crypto by participating in staking is an important step in building an open financial system. You can learn more about staking rewards on Coinbase at coinbase.com/staking.

To get started, simply buy Solana on Coinbase, or deposit Solana to your Coinbase account from an external wallet, and you’ll start earning rewards automatically.³

You can sign up for a Coinbase account here and download the iOS or Android app to start earning staking rewards today.

About Solana

Solana is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve blockchain scalability by using a combination of proof of stake consensus and so-called proof of history. As a result, Solana claims…