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Generating a Passive Income With Tezos (XTZ)

Coinbase has once again expanded its services to retail users. In an announcement made on its official blog, eligible U.S. customers will be able to earn staking rewards using their Tezos (XTZ) balance, with an estimated annual return of approximately 5%.

At the start of the year, the introduction of staking XTZ already happened on Coinbase’s other platform, Coinbase Custody. Not only did this cause XTZ to double in price at the time, it was well-received by the Tezos community and prompted larger interest in the emerging smart contract blockchain by those seeking to monetize their investments.

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Back to present day, news of retail customers now getting access to staking initially triggered a 20% price jump for XTZ, pushing it above $1.20 before a larger, market-wide retracement took place that pulled the price down to $1.15 at the time of writing.

“Today, we’re announcing staking rewards on every Tezos (XTZ) held on Coinbase by eligible US customers. Coinbase now stakes Tezos on behalf of customers and distributes rewards directly to customer accounts.

When you stake your crypto, you make the underlying blockchain of that asset more secure and more efficient. And in exchange, you get rewarded with more assets from the network.” – Latest Coinbase Tezos Announcement

Another term for staking on the Tezos blockchain is “baking,” and users that are not from the U.S. or on Coinbase can also stake/bake their Tezos coins using wallets recommended on the official Tezos Website.

As Coinbase continues to support a wider variety of digital assets, it estimates an annual return of 5%. After an initial holding period of up to forty days, you will begin to receive your staking rewards every three days.

Exchanges are beginning to offer staking and interest-rewarding services to customers for holding digital assets on their platforms. Binance does this with TRON staking and offers lending of up to 15%.

This post is for educational purposes. All information used is referenced accordingly. This is not investment advice; please always do thorough research and only invest what you are willing to lose, especially in times of uncertainty.

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