Coinbase: Tezos holders earn profits of 5% per year

  • Coinbase has announced that Tezos holders will earn a 5% staking profit each year for U.S. users.
  • Tezos has seen an increase in the price of its XTZ token in recent months due to various reasons.

In an announcement dated November 6, Coinbase reported that it will give a 5% reward to Tezos holders. The benefit will be granted by staking automatically.

Percentage of Profit for Tezos Holders

Users living in the United States, Coinbase said, may receive the reward after a two-month period. It will be automatically distributed to all XTZ holders after a certain period.

The announcement occurs as part of the process that Tezos has introduced to his proof-of-stake protocol. The profit percentage has been determined by Coinbase at 5%, passively obtained by making deposits and keeping your XTZ tokens on the platform.

It is expected that from the announcement and implementation of the proof-of-stake algorithm, that the security and the processes of the token XTZ in the blockchain are optimized. Gains will be proportional to the amount of assets the user maintains on the Coinbase platform, based on the percentage announced annually.

Expansion of Coinbase services and increase in the price of Tezos

Coinbase’s initiative occurs after the introduction of its staking service. The platform would be looking to give a more dynamic role to its users and reward them for maintaining their assets on Coinbase.

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The measure also corresponds to an expansion in Coinbase’s services. Recently, they have also announced that USD Coin holders will be able to receive annual rewards of 1.25% for the usefulness of their tokens.

The exchange platform has been recognized for having a more active role in the way it interacts and rewards its users. While it seeks to have a positive impact on the change of regulatory policies from the U.S. government towards the cryptomarket.

Tezos has seen an increase in its price due to different factors. First, the expectation of the world conference of Tezos. The event would have generated a positive XTZ price gain. On the other hand, Coinbase’s announcement could continue to increase the price of the cryptocurrency, giving positive gains to its holders. Among other developments reported by CNF.

The price of Tezos has had an excellent performance and, at the time of publishing the article, it stands at 1.18 USD with gains of 22% in the last 24 hours. The trend for this cryptocurrency seems to be bullish in all its indicators. It remains to be seen how Coinbase’s announcement will influence the future of the XTZ token.

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About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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