Coinbase, a cryptocurrency exchange, has added Solana to its staking incentive offerings.
A user’s minimum starting amount to begin staking Solana is $1. Payouts are made every seven days.
Tokens that could formerly be staked on Coinbase were Ethereum, Algorand, Cosmos, Tezos, Dai, and Cardano. According to a blog post published on Wednesday, the addition of Solana allows users to streamline how they stake their tokens and collect incentives on Coinbase’s platform.
To stake Solana, a Coinbase user must have their identification authenticated on the platform and live in an area where staking is permitted, as specified on the company’s support page.