Can you mine ETH on Coinbase?

sourav · Post time 31-8-2023 15:16:22

I want to earn a passive income with the ETH that I have bought over the years. I want to know if you can mine ETH on Coinbase and earn rewards. Further, if you could tell me, let me know how much the rewards we can get from Coinbase.

dharmendar · Post time 31-8-2023 15:34:15

Ethereum cannot be mined anymore now because it has shifted to a Proof of Stake consensus mechanism where you have to stake 32 ETH to become a validator. If you have more than 32 ETH, become a validator. If not, stake with Coinbase and earn 3.5% approx rewards.

gopal · Post time 31-8-2023 15:51:56

If by mining, you mean validating crypto transactions to earn money, yes it is possible on Coinbase. However, the method of mining has changed. Earlier miners used to run software and dedicate computing resources. Now, that has changed to staking where you either stake the full amount of 32 ETH or you can stake a fraction into a staking pool and earn rewards. These are mostly around 2 - 4%.

gulab · Post time 31-8-2023 16:11:10

Yes, you can mine ETH on Coinbase. You need to stake a few Ethereum in Coinbase’s staking pool.