Coinbase has officially opened the waitlist to earn staking rewards from Ethereum 2.0. The company will let people stake any amount of Ethereum and earn somewhere up to 7.5% in the annual percentage return.
The announcement for supporting ETH2 staking came from Coinbase in November 2020. The senior product manager for retail at Coinbase, Rhea Kaw, has declared that the long-awaited release is getting closer.
Once you get off the waitlist, you won’t have to deal with any minimum requirements in order for you to take part in the staking. This is great news for small investors. It is nonetheless recommended that a user should own at least 32 ETH in their account in order to run a validator node for Ethereum’s new blockchain.
In the beginning, users won’t be allowed to move any of the ETH that was staked, but that will happen on all ETH2 staking platforms as Ether won’t be allowed to be moved until phase 1.5 of Ethereum 2.0 is live. But Coinbase is looking at how it could get past that restriction.
“Initially, customers will not be able to sell or send the portion of Ethereum that they choose to stake. However, Coinbase will offer a way to trade any staked Ethereum in the coming months. Coinbase will continue to share more information about ETH2 rewards once it becomes available.”