Staking on Coinbase is now LIVE

[Aleeyou]

Don't ask how it works. It's explained below. And don't ask if they are going to allow staking for other coins. I have no idea.

coinbase.com/staking

Coinbase sent out the email notifying everyone that staking was now live for Tezos (XTZ). This is a pretty big deal in IMHO because it gives you a way to earn, simply by holding a coin in your account.

This is the 15m chart. It shot up 75% within a few minutes, then strong market sellers came in (those who accumulated before the pump). Those MARKET SELL orders trigger immediately which drives the price back down as it eats up LIMIT BUY orders sitting on the order book waiting for match.

Then next candle started and it shot right back up as a second wave of FOMO buyers came in strong. Insane scalping opportunity if you were on it, the moment you read that email.

Tip. When a coin is this hot, don't use LIMIT orders. Instead, use MARKET orders to ensure you get in and out of the market fast. MARKET orders get filled instantly, with some higher fees, but worth it if you're scalping for 30-50% profit in minutes.

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[livingfree]

I see it now that it was the reason why Tezos is skyrocketing today. The price has moved so quick as this news pop up. I remember someone who became wealthy with Ethereum and he suggested that he's picking up Tezos and waiting for it to pump.

I guess that guy has picked a decent coin and knows what he's doing.

[BigBoy89]

I see it now that it was the reason why Tezos is skyrocketing today. The price has moved so quick as this news pop up. I remember someone who became wealthy with Ethereum and he suggested that he's picking up Tezos and waiting for it to pump.

I guess that guy has picked a decent coin and knows what he's doing.

Yep, it's close to +40% today because of CoinBase.

Currently, the Coinbase staking program is only for Tezos and they are promising ~5% which is not bad. But I expect a dump in a 2-3 days after the initial FOMO and hype.

[Pearls Before Swine]

Yep, it's close to +40% today because of CoinBase.

That's an outrageous gain based on this news.  Exactly what is the unique service coinbase is providing here?  The ability to not have to keep your computer running all day and night, which is what you usually have to do with pos coins?  That doesn't seem to me to be significant enough to justify a 40% gain.

Plus people shouldn't keep their coins on *any* exchange for long periods of time, even on a legitimate exchange like coinbase.  When are people going to learn this?

[plast555]

For someone who does not understand the way cryptocurrencies work, staking is quite profitable and straightforward.
But in my opinion, the 5% annual interest rate is very low. There are more passive income opportunities. So I'm not going to use the staking system of both Binance and Coinbase.

[joinfree]

This is great. I think in no time most exchanges would be hosting staking platforms alongside listing these masternode coins.  But i don't think just enabling staking on coinbase might have caused this pump. I believe the team is doing a great job which other potential investors on Coinbase noticed and bought into it when staking was enabled. I wish all other projects could do same for us to see real value of all these projects that have been launched in this industry.

[poornamelessme]

Yep, it's close to +40% today because of CoinBase.

That's an outrageous gain based on this news.  Exactly what is the unique service coinbase is providing here?  The ability to not have to keep your computer running all day and night, which is what you usually have to do with pos coins?  That doesn't seem to me to be significant enough to justify a 40% gain.

Plus people shouldn't keep their coins on *any* exchange for long periods of time, even on a legitimate exchange like coinbase.  When are people going to learn this?

I find it a little odd too. I mean it's not exactly that big a deal to leave a cheap, power efficient computer running in the background ... staking rewards should easily outpace whatever small electricity bill you get.

I also wouldn't recommend leaving coins on any exchange, although I would feel at teensy bit safer leaving them on a big exchange like coinbase. Do they at least have some sort of insurance, I assume? Anyway, I might be okay leaving a reasonable amount at coinbase (let's say 1-2K in fiat), but for large holders I'd be wary leaving coins on any exchange too long.

[samuraijin]

I think coinbase is also like other trading sites, we also know a lot of other projects that also use a staking system and not even a few trading sites hold this staking system, I catch that it's a new breakthrough for people to not be too frantic about selling their altcoin cheap on the market the bears at the moment, at least hold that and benefit, it's just my thought, but by the way is it only available for Tezos?

[safari88]

i just read that coinbase open a staking program but i try to search on coinbase about how much the minimum we need to join?
but unfortunately i don't see any FAQ regarding this question there

[sureshnsnet]

Really it was great news for all tezos coins holders because of tezos gains more than 27% as per coinmarketcap status and more than 10k bitcoins trading volume happend in last 24 hours. It all happens because of the coinbase has started staking system. I know coinbase gives 4% for staking the tezos coins in their platform but I need suggestions about investing in tezos coins is right time or wait for some time, because the tezos is gain more than 27% today.

[bigcash2011]

Interesting update, as an Eth hodler and supporter i have gained more confidence about future profit prospects of eth and im sure that after switch of algorithm from pow to pos Eth demand and value will sky rocket and long term holders will be in massive profits, cannot wait for eth 2.0 to be launched with many platforms supporting it.

[DarkDays]

Remember guys, don't keep your cryptocurrencies on centralized wallets like Coinbase. Although they might be convenient, especially now that it offers staking, if it ever gets hacked you'll have nobody to blame but yourself.

Not your keys, not your coins.

You can just download the official Tezos client to participate in the staking and voting systems.

https://tezos.com/get-started/

[livingfree]

I see it now that it was the reason why Tezos is skyrocketing today. The price has moved so quick as this news pop up. I remember someone who became wealthy with Ethereum and he suggested that he's picking up Tezos and waiting for it to pump.

I guess that guy has picked a decent coin and knows what he's doing.

Yep, it's close to +40% today because of CoinBase.

Currently, the Coinbase staking program is only for Tezos and they are promising ~5% which is not bad. But I expect a dump in a 2-3 days after the initial FOMO and hype.

5% for a year right? this is a realistic offer and it's coinbase so there's no need to worry about them but the problem would be is on the staker's decision. A dump scenario is normal and would come definitely within that period.

It's something to be expected and I guess those holders that has already staked their Tezos wouldn't care about it anymore. As long as it's on coinbase, they're all going to leave it there and wait until it profits.

[Convery]

There is a big hype around staking coins on exchange platforms. Why they didn´t launch the staking program before? Binance also launched staking and lending platform few months ago. It is a cool way how to earn cryptocurrencies passively, but I am afraid that this is pretty dangerous. People will store their cryptocurrencies on exchanges and with this come many problems.

[Bitze]

i think the staking is great and also the tezos price has thanked us directly.
in the future more stock exchanges will have to join here. although in the normal
case it is better to remove the tokens anyway and take care of the staking yourself.

[TanakabZX]

Coinbase fomo is alive and kicking but its only a matter of time before we see price dump but actually coinbase is reliable so i will surely join their staking program, moreover tezos is a good project as well, not bad at all

[puremage111]

Well seems good for TEZOS and seems good for Coinbase

As one who offered the custodian service for coins, allowing staking and compound their amount of coins is definitely an VAS (Value added Service)
If they can offer top notch security, where i can safely leave my coins for them to handle
Then they allows user to generate interest on those coins where client doesn't need to setup nodes themself

Its definitely real good for the ecosystem

[alyssa85]

There is a big hype around staking coins on exchange platforms. Why they didn´t launch the staking program before? Binance also launched staking and lending platform few months ago. It is a cool way how to earn cryptocurrencies passively, but I am afraid that this is pretty dangerous. People will store their cryptocurrencies on exchanges and with this come many problems.

I think most of these exchanges were staking the coins privately already and have just decided to share the proceeds with the users who actually own teh coins. Anyone who thinks that stakable coins deposited with the exchanges haven't privately been staked by those exchanges is naive.