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Coinbase Custody recently decided to add the staking of crypto-currencies Proof of Stake (PoS). Although many crypto-currencies follow the Poof (Proof of Stake) algorithm, Coinbase Custody is the first trusted medium for crypto-currency implementation.
Coinbase has announced the addition of the cryptocurrency Tezos (XTZ) in Coinbase Custody. Coinbase Custody is an independent custodian for cryptocurrency badets. Digital badets on the Coinbase Custody Platform are stored on behalf of customers; it guarantees the security and confidentiality of the badets.
How will Coinbase Custody benefit from Proof of Play (PoS) coins?
In addition, Coinbase Custody not only includes a secure platform for storing crypto-currencies, but also allows to embellish or cook cryptocurrency. Picketing is the process by which a distributed consensus is reached on the Proof of Stake (PoS) platform. It rewards stakeholders with new forgings after confirmation of a new block.
Tezos (XTZ) is the first cryptocurrency chosen by the Coinbase depository bank, which also offers offline staking. Institutional investors can therefore participate actively in the process.
Coinbase Custody modifies this calculation. No other picket supplier has our experience in security and regulatory compliance, nor our comprehensive and top-notch insurance coverage.
Tezos (XTZ) wins 100% in 2019
The price of the Tezos token reached US $ 1 for the first time in 2019 on March 30. It has gained 100% since the beginning of the year, while its price was $ 0.499.
The yield of Tesoz is about 7% per year. In addition, the stakes are returned to Tezos itself. Therefore, if the amount of picketing increases continuously, the return on it may decrease. The price of Tesoz is increasing due to the pressure of buying institutional investors seeking to bet on cryptocurrency.
"The launch of Coinbase Custody's Tezos staking addresses a strong need that has existed so far: a way for institutional participants who rely on a secure and offline depository to play an active role in the network," said Kathleen Breitman , co-founder of Tezos.
"Coinbase effect" to reign again in cryptographic markets?
Tezos (XTZ) is the first cryptocurrency to be part of the Coinbase Custody picket initiative. However, it is also planned to add other PoS cryptography projects on its Custodian platform.
Coinbase noted in an ad:
We plan to offer secure and regulated picketing services to all channels in which our customers invest.
Since staking involves the storage of significant value in a cryptocurrency wallet, Coinbase Custody has taken the initiative to provide a secure platform for implementation. Institutional investors are expected to participate in the staking program. However, a continued increase in investment would have a negative impact on the price of cryptocurrency in the long run.
It also recalls the effect of the "Coinbase list effect" that prevailed in the cryptocurrency markets in 2017 and 2018. Any coin listed on Coinbase would greatly benefit from increased investor confidence and a sudden increase in volume. The Coinbase guard platform now offers to provide an annual return. As a result, the price effect of inclusion in Coinbase Custody's Pob (Proof of Stake) crypto-currencies is expected to be significant in the near future.
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"Coinbase effect" on the cryptocurrency list is back
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Coinbase Custody recently decided to add the staking of crypto-currencies Proof of Stake (PoS). Although many crypto-currencies follow the Poof (Proof of Stake) algorithm, Coinbase Custody is the first trusted medium for crypto-currency implementation.
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Nivesh Rustgi
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CoinGape
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