03-24-2022, 05:24 AM
Coinbase Add Staking 3.75% APY on Cardano- Still, Get Your Coins In Your Own Wallet
<!-- SC_OFF --><div class="md"><p>Earlier today, Coinbase began to support ADA staking rewards by offering 3.75% APY on ADA held on Coinbase. This is actually a shockingly high percentage considering ADA yields have been 4.1%-4.3% over the last few epochs. </p> <p>I believe offering the APY will help ADAs price action since it gives CB users another reason to buy, especially if they are debating between ADA and another coin, and will help general crypto adoption when the more casual person sees more coins with a way to earn APY beyond pure price action.</p> <p>However, this is not a recommendation to buy ADA and keep it on the exchange. ADA (and nearly all other projects) have an expansive ecosystem beyond just staking. With ADA specifically (as well as ALGO), governance and voting is a responsibility they allow the token holders to have. With the Catalyst Fund 8 coming up in April, it is critical to vote yourself in the best interest of Cardano. Leaving your coins on Coinbase will give all your voting power to them, and Coinbase will vote in the best interest of CB, not necessarily Cardano.</p> <p>TLDR; I'm happy that coinbase is offering a near full amount of staking rewards for ADA, but that isn't an excuse for keeping your coins on the exchange.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/002timmy"> /u/002timmy </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tktf8p/coinbase_add_staking_375_apy_on_cardano_still_get/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tktf8p/coinbase_add_staking_375_apy_on_cardano_still_get/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Earlier today, Coinbase began to support ADA staking rewards by offering 3.75% APY on ADA held on Coinbase. This is actually a shockingly high percentage considering ADA yields have been 4.1%-4.3% over the last few epochs. </p> <p>I believe offering the APY will help ADAs price action since it gives CB users another reason to buy, especially if they are debating between ADA and another coin, and will help general crypto adoption when the more casual person sees more coins with a way to earn APY beyond pure price action.</p> <p>However, this is not a recommendation to buy ADA and keep it on the exchange. ADA (and nearly all other projects) have an expansive ecosystem beyond just staking. With ADA specifically (as well as ALGO), governance and voting is a responsibility they allow the token holders to have. With the Catalyst Fund 8 coming up in April, it is critical to vote yourself in the best interest of Cardano. Leaving your coins on Coinbase will give all your voting power to them, and Coinbase will vote in the best interest of CB, not necessarily Cardano.</p> <p>TLDR; I'm happy that coinbase is offering a near full amount of staking rewards for ADA, but that isn't an excuse for keeping your coins on the exchange.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/002timmy"> /u/002timmy </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tktf8p/coinbase_add_staking_375_apy_on_cardano_still_get/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tktf8p/coinbase_add_staking_375_apy_on_cardano_still_get/">[comments]</a></span>Kind Regards R