by Alexander Romero 
Following the staking of Tezos (XTZ) and Cosmos (ATOM), the US crypto exchange Coinbase launched the staking of Algorand cryptocurrency (ALGO).
ALGO is the native cryptocurrency of the Algorand blockchain, a platform designed to create an open digital economy.
The announcements therefore continue on Coinbase which yesterday listed a new token, The Graph (GRT).
Regarding the ALGO staking announced on Twitter, Coinbase indicates:
“Starting today, eligible customers can automatically earn rewards for holding Algorand (ALGO) on Coinbase.
ALGO Rewards are reinvested to compound over time, with no lockups, limits or restrictions. Simply buy ALGO via your Coinbase account to get started.”
Starting today, eligible customers can automatically earn rewards for holding Algorand (ALGO) on Coinbase. ALGO Rewards are reinvested to compound over time, with no lockups, limits or restrictions. Simply buy ALGO via your Coinbase account to get started. https://t.co/1IHp3RBfdA
— Coinbase (@coinbase) December 18, 2020
“No lockups, limits or restrictions,” unlike some staking platforms which require tokens to be locked for a specified period of time, Coinbase does not impose any restrictions on the staking of the ALGO cryptocurrency.
You can therefore withdraw your tokens whenever you want, you will earn interest as long as your ALGO tokens are staking on Coinbase.
The countries allowed to staking on Coinbase are:
Belgium, France, Slovakia, Spain, Great Britain, The United States (excluding New York (for Tezos and Cosmos) and Hawaii.
If you have an account on Coinbase, you can therefore start staking ALGO tokens immediately and earn free tokens as a reward.
Generate passive income with cryptocurrency staking
Cryptocurrency staking has grown in popularity, especially with the advent of Ethereum 2.0 staking.
Binance has already started Ethereum 2.0 staking on its trading platform.
Kraken, a historic bitcoin exchange recognized for its reliability and security, announced that it offers an interest rate between 5 and 17% for Ethereum staking on its platform.
The platform also offers Polkadot staking with 12% interest!
Cryptocurrency staking is therefore an easy and secure way to make money with your tokens in order to generate passive income.
An Algo price actually around $0.37 on Binance.
