What are the risks and rewards of staking Cardano on Coinbase?

1 answers

• Nov 29, 2021 · 3 years ago
  Staking Cardano on Coinbase can be a profitable venture. By staking your ADA tokens, you can earn additional ADA as rewards. The rewards are distributed based on the amount of ADA you stake and the duration of your stake. However, it's important to note that staking involves locking up your tokens for a certain period of time. This means that you won't be able to sell or transfer your ADA during the staking period. Additionally, the value of ADA can be volatile, and if the price drops significantly, you may end up with less value than you initially staked. It's crucial to carefully consider the potential risks and rewards before deciding to stake Cardano on Coinbase.
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