Coinbase adds staking option for Cosmos token ATOM

The cryptocurrency exchange Coinbase announced the addition of the option to stake Cosmos’ ATOM tokens.

Today you can start earning 5% APY with Cosmos Staking Rewards on Coinbase.

Tap the link to learn how we’re making it easy and secure to participate in the cryptoeconomy: https://t.co/4T9FRtVZPo pic.twitter.com/ZHJW2t1kiS

— Coinbase (@coinbase) September 29, 2020

Users of the platform will earn 5% per year on staking the asset. The option is available to residents of the United States, the United Kingdom, France, Spain, the Netherlands, and Belgium.

The exchange’s fee stands at 25%. Coinbase representatives stated that it has already been accounted for in the stated yield.

Staking rewards for ATOM will be issued every seven days.

In light of the news, the asset’s price rose by more than 8%, and at the time of writing was around $5.40 per token.

Data: CoinGecko

Poloniex offered staking for ATOM in 2019.

Coinbase added support for ATOM in January 2020.

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