Coinbase adds support for staking Solana

Quick Take

  • Solana is now the seventh token that can be staked on Coinbase. 
  • Coinbase deals with the node set-up process and other technical details, making staking more accessible to everyday retail users.

Crypto exchange firm Coinbase has expanded its staking reward offerings to include Solana. 

The minimum starting balance a user needs to start staking Solana is $1. Payouts occur every seven days. 

Previously, tokens that could be staked on Coinbase included Ethereum, Algorand, Cosmos, Tezos, Dai and Cardano. Adding Solana means users can streamline how they stake their tokens and earn rewards using Coinbase’s platform, according to a Wednesday blog post. 

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In order to stake Solana, a Coinbase user must have their identity validated on the platform and reside in a location in which staking is allowed, as stipulated in the firm’s support page. 


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.