Coinbase has temporarily halted the rewards payout for its ETH staking service due to a technical complication. It will take three days to resolve the issue.
Coinbase has temporarily halted the rewards payout for its ETH staking service, the exchange announced on May 16. The cause was a minor technical issue, which Coinbase is addressing.
The exchange assured users that it is still accruing the rewards and will set their payout once it resolves the issue, which is expected in the next 48–72 hours.
Rising Popularity of Ethereum Staking
Like other services of its kind, Coinbase allows users to deposit their ETH and earn staking rewards, the rate for which is currently 6%. The benefit of Coinbase’s ethereum staking service, which has led to its increasing popularity, is the fact that it does not require a minimum of 32 ETH to begin staking.
It is also worth noting that the halting of the staking service has nothing to do with the…
