Image source: Getty Images
If you haven’t staked crypto on Coinbase yet, the exchange has a great first stake incentive available.
Key points
- Coinbase is offering a crypto reward if you stake Ethereum for the first time.
- Eligible users can stake $500 in Ethereum for a $50 payout.
- There are risks to Ethereum staking, including being unable to access your cryptocurrency until completion of a network upgrade.
Coinbase makes it easy to stake Ethereum (ETH) and earn daily rewards on it. As an extra incentive, the crypto exchange is currently offering up to $50 in Ethereum rewards when you stake it for the first time.
The offer is straightforward and doesn’t take long to complete. For every $100 in Ethereum you stake, you earn $10 in Ethereum. You can earn up to $50 in Ethereum this way if you stake $500 worth. Coinbase pays out these crypto rewards within two business days.
Here are the details on Coinbase’s offer and what you should know about Ethereum staking first.
Who’s eligible for Coinbase’s first stake incentive?
There are only three eligibility requirements for this offer. You must:
- Be a legal resident of one of the 50 U.S. states, excluding Hawaii and New York.
- Be a first-time staker on Coinbase. If you’ve staked any type of cryptocurrency on Coinbase before, you can’t get this offer.
- Stake at least $100 in Ethereum. It’s recommended to stake $500 so you can get the full $50 in rewards.
The offer is available to both new and existing Coinbase users. To be eligible for Ethereum staking, you need to have completed Coinbase’s identity verification and ID document verification.
How staking Ethereum works
If you’re unfamiliar with crypto staking, it’s a way of earning passive income on your crypto…
![Anticipation for Ethereum [ETH] 2.0 rises as metric reaches all-time high](https://crypto.newswireservice.net/wp-content/uploads/2023/01/ethereum-wale-1000x600-350x250.jpg)
