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Staking on Coinbase is now LIVE

Discussion in 'CryptoCurrency' started by CryptoKujira, Nov 7, 2019.

  1. CryptoKujira

    CryptoKujira Regular Member

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    Don't ask how it works. It's explained below. And don't ask if they are going to allow staking for other coins. I have no idea.

    coinbase.com/staking

    Coinbase sent out the email notifying everyone that staking was now live for Tezos (XTZ). This is a pretty big deal in IMHO because it gives you a way to earn, simply by holding a coin in your account.

    This is the 15m chart. It shot up 75% within a few minutes, then strong market sellers came in (those who accumulated before the pump). Those MARKET SELL orders trigger immediately which drives the price back down as it eats up LIMIT BUY orders sitting on the order book waiting for match.

    Then next candle started and it shot right back up as a second wave of FOMO buyers came in strong. Insane scalping opportunity if you were on it, the moment you read that email.

    Tip. When a coin is this hot, don't use LIMIT orders. Instead, use MARKET orders to ensure you get in and out of the market fast. MARKET orders get filled instantly, with some higher fees, but worth it if you're scalping for 30-50% profit in minutes.

    [​IMG]
     
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    Last edited: Nov 7, 2019
  2. Maticzilla

    Maticzilla Jr. VIP Jr. VIP

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    this is good news, maybe staking for other coins is next in line.
     
  3. CryptoKujira

    CryptoKujira Regular Member

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    Yes, maybe so. I'm more interested to see how this affects the price of XTZ. It seems this might put a lot of downward pressure on the price, permanently suppressing it.

    Imagine a whale (or a few whales) buying a ton of XTZ to stake. They will earn a ton of free coins, and constantly sell their free coins soon as they are earned. So the staking system could create a constant revolving door of sellers who dump their earned coins soon as they get them.
     
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  4. djbrayner

    djbrayner Junior Member

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    Too bad he doesn't take advantage.
     
  5. CryptoKujira

    CryptoKujira Regular Member

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    OKEX exchange also added staking for XTZ today.

    And just like the previous day when Coinbase added staking for Tezos, it caused a nice another (40%) spike. Yewww.
     
  6. Alexpaberla

    Alexpaberla Junior Member

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    Very interesting
    The reward (5% for staking) is per month ? or per year?
     
  7. CryptoKujira

    CryptoKujira Regular Member

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    No idea who you're referring to.

    Literally, the very first line of my initial post

    'Don't ask how it works. It's explained below. '
     
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    Last edited: Nov 8, 2019
  8. Alexpaberla

    Alexpaberla Junior Member

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    Hey man The problem is that i Never ask How it works... because i already know How Staking sistem or masternode works ...

    I just asking the earning (5%) is Per month or Per year, on stock Market dividends are payed every year (12 months)
     
  9. ihabhamed

    ihabhamed Registered Member

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    cool, let's try that's
     
  10. BlackFromTheWaistDown

    BlackFromTheWaistDown Newbie

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    If a revolving door is the case, then it was meant to be. The whole point of Tezos is that people that hold enough get to decide/propose how it operates. Therefore, if it's a coin for regularly dumps, that's because the people that are holding (for some reason) want it to be that way.

    I know this because coinbase gave me 6 dollars to watch the video about tezos :)
     
  11. BTC Goat

    BTC Goat Newbie

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    Staking is a great way to get passive income. Gamble of the coin that is being staked goes up in price/btc.

    Right now SnowGem has 40% annual ROI that will be diminishing as time goes on and more nodes join the network.

    It takes 10,000 XSG (~$200) that will earn ~0.11% daily apy (40% / 365) in XSG. Getting in early on these type of platforms that stick around and will be here in the future will be key to ensuring a HODL mentality with this way of generating coins/extra crypto profits.

    Glad to see coinbase is taking use of staking features.
     
  12. CryptMedia

    CryptMedia Newbie

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    It's only available for US users
     
  13. CPANathan

    CPANathan Regular Member

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    That's a sad face emoji, was gonna drop everything into it