I signed up for ETH2 staking about a month ago?! and Coinbase ETH2 staking is still have a long waitlist but finally I got accepted to their ETH2 staking program.
"Welcome to ETH2 staking" they said.
"You can now start staking your ETH and earn up to 6.00% APR in rewards." they said.
"there are no minimum amounts required." they said.
"slashing risk and you can earn rewards worry free." they said.
But the most important thing you should know before you stake is this 馃憞
"After staking, you鈥檒l be unable to trade, send, or sell the ETH you鈥檝e staked" they said.
So when you when you stake ETH, they will upgrade your ETH to ETH2 and lockup your ETH. That is why you can't sell, trade, or send staked ETH.
Normally I don't like my asset locked up so staking but I don't have much ETH in my Coinbase account so I just wanted to try it out see how it works.
How to stake ETH2
Once you are invited to ETH2, you just go to your Coinbase account and open ETH wallet. It looks something like this and click on the "Stake to earn ..." button.
and then read this and "I understand"
and how much you want to upgrade ETH to stake and "Stake now" on the next page.
That is it.
Easy painless process and you will start earning right away.
BUT 馃憞
You will start earning rewards right after you stake ETH, but you won't actually receive rewards until Ethereum 2.0 goes live.
Other ETH "staking" service like BlockFi gives you 4.5% interest on your ETH1, but Coinbase gives you 6% (up to).
Recap
- ETH 2 staking is easy.
- No minimum amount.
- Rewards start right away.
- ETH gets locked up.
- No actual rewards until Ethereum 2.0
Oh one more thing! Coinbase released MATIC earn 馃挵馃挵馃挵 馃憞
Watch videos and take quizzes for easy $MATIC.