How to stake Ada, Amp, & Polkadot cryptos on Coinbase?

How to stake Ada, Amp, & Polkadot cryptos on Coinbase?

Can you really stake Ada, Amp, & Polkadot cryptos on Coinbase? You can't actually stake ADA(Cardano) or AMP nor Polkadot on coinbase or any other platform.

So, either you'll need to convert it to crypto which is supported on coinbase for staking, or you'll need to Stake those cryptos on other platforms like Flexa.

In this article, we're going to learn how we can stake ADA(Cardano), AMP, & Polkadot cryptos on Coinbase.

    What is Staking in cryptocurrency?

    Staking is earning rewards on keeping any specific Proof-of-Stake cryptocurrencies like Ada, Amp, Polkadot, Cardano, etc. for creating new blocks.

    It's a similar term like you're giving your money to the Bank and in return, you'll get interested in that money. Here in the staking, you'll stake Cryptos like ADA or AMP on the network, and in return, you will get stake rewards.

    You can't do Staking with Proof-of-work cryptocurrencies(Bitcoin, Dogecoin, Litecoin, etc), as it only requires Proof-of-stake cryptocurrencies.

    What are the best staking cryptos?

    The staking method needs Proof-of-Stake cryptos. Some of the best Poof to Stake cryptos examples like Ada, Amp, Polkadot, Cardano, Binance Coin, Ethereum, Solana, Polygon, etc.

    How to stake ADA(Cardano), Amp, Polkadot & other cryptos on the Coinbase platform?

    How to stake Ada, AMP on Coinbase? As I said you can't stake ADA, AMP, or Polkadot on Coinbase. Currently, Coinbase supports staking on a few cryptos like Ethereum 2, Tezos, & Cosmos.

    So, You've 2 options. Either Trade ADA or AMP or Polkadot for Ciinbase supported cryptos like Ethereum 2, Tezos, Cosmos, and many more. Else, you've to go for other trading platforms which will provide you staking feature on ADA/AMP/Polkadot.

    We'll go through each step,

    I. Trade ADA(Cardano), Amp, Polkadot with Ethereum 2, Tezos, Cosmos on Coinbase

    1. First, convert any of your crypto - ADA, AMP, Polkadot crypto with Any of the following Crypto on Coinabse.

    • Ethereum 2 - 4.50%
    • Tezos - 4.68%
    • Cosmos - 5.00%
    Cryptos available to stake with coinbase

    Those are coinbase staking rewards percentages. In simple terms, it is Interests that we're getting on Staking certain Cryptocurrencies.

    2. Open Coinbase and open your crypto portfolio.

    3. Head towards your Portfolio/Assets section.

    4. Open crypto which you've converted your Cryptos with.

    5. Now select the Rewards option under the Send and receive option. i.e. if you have converted ADA(Cardano) into Tezos, then you've to enable the option Tezos rewards under Tezos asset.

    II. stake ADA(Cardano), Amp, & Polkadot cryptos on other platforms than Coinbase

    You can actually stake your crypto coins on other platforms if you aren't able or don't want to stake on coinbase.

    In this demonstration, we're using the Flexa network to stake the cryptos.

    1. First, Transfer all of your Crypto into any of your favorite wallets - Coinbase wallet, Metamsk, Trust wallet, etc.

    2. Connect this wallet with the Flexa network using Connect your wallet option(As shown in the picture).

    Connect your wallet with flexa

    3. Following Wallet option available to connect with Flexa.

    Wallet available to connect with Flexa

    4. After the Wallet is successfully connected with Flexa, select the Profile.

    5. Now, hover on the Available AMP, ADA(Cardano), or Polkadot Token(Here in this tutorial, we're using AMP), and Select the Stake option.

    Stake AMP, ADA, Polkadot with Flexa

    6. Select any option - Stake Gemini or Stake SPEDN & Hit continue. Then, follow the given instructions carefully.

    7. After the confirming transaction, you'll find the confirmation page showing all the Staked cryptos. That's it, you've staked your Crypto on the Flexa network.

    What can you earn by staking an amp on flexa?

    You can earn staking rewards as Flexa provides a much more attractive Reward(Interest) than other platforms.

    What does amp provide on the flexa network?

    The answer to this question is Instant settlement assurance.

    Can you stake on coinbase pro? How to stake on coinbase pro?

    Just like Coinbase, you can stake your cryptos on Coinbase pro also. Coinbase Pro provides the same rate for Staking Crypto.

    Supported cryptos by Coinbase pro are Ethereum 2, Tezos, Cosmos, Algorand, Cardano, USDC, and many more.

    When was Polkadot listed on Coinbase?

    Polkadot was listed on June 14th, 2021 in Coinbase & Coinbase pro. You can now trade or stake this crypto on Coinbase and Coinbase pro.

    Coinbase - What is the Polkadot withdrawal fee?

    Polkadot withdrawal fee on Coinbase is 0.02 DOT per transaction, which is very low compared to other major platforms like Kucoin and CoinEx.

    Wrapping up

    Staking Ada, Amp & Polkadot coins is not possible right now. In the future, they'll add it also. Still, you can use ADA(Cardano), AMP, or Polkadot to stake on coinbase by using the methods which we've given in this article.

    As we said earlier, the only way to stake your ADA(Cardano), AMP, or Polkadot coin is by converting it to a stackable coin. Or you can try other platforms like Flexa which supports ADA, AMP, or Polkadot coin to stake.

    If you have any queries regarding how to Stake the ADA, AMP & Polkadot on Coinbase or any other platform, contact us through the Comment section as we're always here to help you out.

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