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Coinbase set to roll out ETH2 Staking for UK users

Crypto exchange firm Coinbase is set to  launch ETH2 staking feature on its platform for users in the United Kingdom.

According to the American firm, this new attribute will be available after the proposed upgrade has taken place.

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“We have witnessed a huge rise in customers purchasing ether in recent months and so are delighted to be in a position to offer them staking rewards for this asset,” Marcus Hughes, the company’s general manager for Europe, said. 

ETH2 is a collection of interconnected upgrades that will improve the scalability, security and sustainability of the Ethereum ecosystem.

Coinbase Customers can earn up to 5% ROI

Coinbase customers who own Ethereum and are willing to stake it will need to convert their tokens to ETH2 before adding it to a staking pool.

Coinbase ETH2

Mark Huges added: “In the current climate, a return of 5% is incredibly competitive and, given the success of our existing staking rewards programmes we expect ETH2 staking to be highly popular amongst our UK users.”

Coinbase offering ETH2 staking to U.K customers has certainly added to the buzz surrounding the upcoming upgrade and the token itself. 

NEXT: Polinate is going Live On Polygon in September

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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