Can you bake Tezos on Coinbase?
Yes. Tezos owners can use Coinbase for Tezos baking. Coinbase can provide a structure for assisting its customers get maximum benefit from their deposits. Coinbase will stake Tezos on behalf of its customers. Coinbase will accept the reward and deposit the customer’s share directly into their accounts. You can get started by Buying Tezos on Coinbase or through the convenient Koinal.io portal with a bank credit or debit card. You then deposit the Tezos in the Coinbase account. Coinbase does not provide delegation type services, and the reward to investors is about five percent.
The advantages of Baking or staking on Coinbase is that the customer does not need to transfer assets or lock-up assets for the baking period. Baking and staking on Coinbase is a passive activity for Coinbase account holders. They must do no more that leave their assets on deposit with Coinbase.
Consensus in Tezos comes through validation and baking. The Liquid Proof of Stake system reduces environmental impacts and promotes spreading the benefits and responsibilities of operations. Ethereum uses proof of work and is in a transition to Proof of Stake consensus. The impact of proof of work on the environment is a concern for many investors and citizens alike. The unnecessary use of a substantial amount of energy should be avoided if possible.
The proof of work process does add security and support for cryptocurrency operations. The emerging trend towards Proof of Stake suggests that holders and investors may take a greater share of the rewards from closing blocks.