New York residents are now finally able to stake their crypto on digital assets exchange Coinbase (NASDAQ:COIN). Staking assets is described as a straightforward process sp that investors can put ...

Coinbase (Nasdaq: COIN), the leading crypto exchange in the U.S., announced on Oct. 8 that it has received regulatory approval from state authorities to offer crypto staking services to New Yorkers.

Staking is an essential part of maintaining the ecosystem of proof-of-stake tokens and drives profits to cryptocurrency owners and exchanges.

The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.