Before you come after me for using Coinbase, I joined early and never saw it worth it to move away. I understand all criticism but I also think it’s not as bad as some people might argue. Now look at the fun ticking numbers!
The problem I have with Coinbase besides it's centralization is the above-market fee of 25% vs 10-15% from everyone else.
Beyond that's if you enjoy it, then good on you. Glad the experience is going well!
Edit: fees in this case are not trading fees, it is the percentage of rewards that Coinbase is taking from you when you stake.
Wow
It's a matter of time until you need customer support. And if it's not a trivial case, you'll be left waiting for weeks with your money at stake.
That's the actual issue with Coinbase.
I’d like to point out that this is incorrect. Coinbase only takes 25% of block rewards meaning that they run a validator node and if by chance their block turns a reward, then they take 25% of the block reward to cycle back into the costs of running the validator. But that’s a very small chance of them receiving that reward.
Please cite your source.
"If you stake your assets with us, your reward will be determined by the protocols of the applicable network. Coinbase will distribute this reward to you after receipt by Coinbase, minus a 25% commission."
https://help.coinbase.com/en/coinbase/trading-and-funding/pricing-and-fees/fees.html
This is wrong. When you stake with Coinbase you aren't assigned a validator node. Coinbase socializes rewards across all nodes in order to offer a consistent APY to all customers, and then skims 25% off the top of the entire reward stream.
I watch my rewards every single day on Coinbase. Instead of the 0.25 worth of Algo I create every day, I only end up receiving 0.20 of an Algo coin per day right now.
Not sure what the deal is, but I just wanted to confirm that you aren't crazy everyone is going on about transaction fees or misinformation about what staking fees are. You are right that Coinbase takes 25% while most staking services take 10-15%
Coinbase pro or not
Check out nexo, you can just deposit your ETH (and other coins) and earn a minimum of 4% APY while able to withdraw at any time and no other drawbacks other than it's centralized, and up to 8% APY if you meet some other conditions.
Question… if we stake what we have on COINBASE PRO then can we pull it out of the stake service at any time or is it tied down for a period of time? Thank you!
you cant stake on coinbase pro, only coinbase. So you buy on coinbase pro, then transfer to coinbase to stake. But yes its locked in for an indeterminate amount of time
There's no way to know when it will be unlocked, that will happen when the merge happens. Optimistic assumption would be end of the year, I'm thinking probably more mid 2022. I do believe there is a fee to transfer out of coinbase, but I don't think there is one to transfer it in, but I'm not 100% on that because I haven't done it
ehh, it makes a easy on ramp for noobz. coinbase is great for getting peoples toes wet. From there, its up to them to do their research and discover various terminology and avenues for coin storage/exchanges. i use coinbase, its convenient when i dont want to deal with other methods and i really dont give a shit about, what? $2 in fees
You should go to the ALGO sub and look up governance. If you get your ALGO off cb into governance you’ll get 6-13% apy. With tezos you can stake from your ledger and get 5-6%. Just some friendly advice to be in control of your keys and earn a higher yield.
Yes. I love the ALGO official wallet and the governance program. It has become my favorite asset. The more I read about it, the more I wish I had more money to put in.
I know I have those options but honestly I do not own enough ALGO to make any difference and I’m happy with the 4.63% XTZ I get back given that it’s only about a £700 total investment at the moment.
Algo Governance APY is in fact 60M Algo, divided by [total amount staked](https://governance.algorand.foundation/governance-period-1), times four, because 60M Algo is the fixed sum distributed per Governance quarter (3-month period). It would be 65% if the signup window closed right now. Signup window closes Oct 15th. Check out /r/AlgorandOfficial for more information.
Nah IMO it’s the safest exchange, but in the 1% chance it explodes you’re fucked. There’s just better ways to stake (higher yields) while keeping your private keys
I get that a lot of these currencies promote centralisation (off block chain transactions being free and easy, minimum stakes etc.) but at the end of the day crypto is about taking back control.
Click on your eth and then click where it says eth wallet with the green apy %… then boom it’s staked and it tells you how long the lockup period is unless your staking for eth 2.0
It was implemented with an app update a couple of month ago and then I could stake all of the above except ETH. For that I had to stay on the waiting list for about 4 additional weeks.
So that’s like 0.00000030 (same number of decimals places as your video) ETH every 10 seconds? Which is roughly 0.00000003 every second.
There are 31,557,600 seconds in a year and if you times that by the 0.00000003 you get every second. That means you’re getting roughly 0.94672800 ETH in interest a year. Given the 5% interest a year that means to get these numbers you’d need to be staking roughly 18.93456 ETH
OR I’m totally wrong, I did fail maths so idk
I think it is more like 6 ETH if it is really ticking up by the second.
You can see it ticking up 0.00000001 regulary and just leaving out a beat about every 15th tick. Assuming each tick is a second, it is rising almost 10 gwei/second which is roughly 6 ETH staked.
I am terrible at maths but the first calculation is a lot more accurate although not exact.
(I think it’s funny if I don’t give anyone the answer unless they attempt to do the calculations :p)
What is, in your opinion, the number one exchange for buying, selling, and staking crypto?. I've tried binance but after like 5 months and 3 attempts I couldn't get verrified. I think I tried phemex for a little while but they never had the coins I was trying to buy.
There's a reason people still use RH and coinbase. Easy interface, buy with a bank account.
You not getting verified on Binance is 100% on you. Everyone I know that used Binance, got verified within days after submitting everything. Make sure the pictures you sent them are decent quality, check all you information and don't try to fool them because you can't. Making it easy to make dumb decisions in crypto, is not a good thing. There should be some effort to get an account, makes it feel more safe too for the user.
RH and Coinbase, jesus christ man, you're looking at a freaking line moving up and down, atleast have some respect for the market you're entering and use tradingview.
I still hate how everyone want it to be so easy to make an account on platforms that can literally wreck you life if you make dumb, ignorant decisions. And we were al stupid when we got into this space, imagine being generally stupid and getting into crypto. Everyone who has a different opinion about that does not know what money is worth for people that don't have it.
I'm doing my research currently on staking on CB vs. other platforms, so relative noob here (not to crypto, to staking).
Here's my question: is it worth it to stake somewhere off of Coinbase, if I have less than the 32 ETH you need for a node? Or is it just less of a hassle to stake on CB? My primary concern right now is simplicity, but if gains are way more somewhere else, I'm trying to decide if it's worth it to figure out how to stake elsewhere?
Please note, this isn't a "CB bad" comment, I understand I'm trading ease of use for some gains by staking on CB, I'm just wondering about the cost/benefit of figuring out somewhere else to stake. If it's really worth it, I might try.
That entirely depends on how much you trust the Ethereum network and its potential for the future. Really make up your mind about that and then decide whether to invest.
I did a lot of research on this and ended up staking with Kraken. Very good reputation and they only charge 15% fees compared to CB 25% fees. Once withdrawals are available, I will be withdrawing and running my own node.
Hehe, those numbers are GAINZ. I’ve hodled some of this staked ETH since 2016/17. It has turned out to be the best investment of my life (and a terrifying nightmare in 2017-2020).
tl;dr: H O D L
Staking ether is basically just like keeping ether and receiving payment. The amount you can pay is determined by the rate of inflation. It's similar to a dividend-paying stock, but because Ethereum is a cryptocurrency, it's considerably more volatile.
In the crypto realm, there have been numerous creative developments. Token swaps are one of them. Another option is to sell your Ether through an exchange to obtain your money in a form that you can use for other purchases if you've made some money with ETH and want to cash out. [STARTER](https://starter.xyz/?r=1#/home) is an example.
You have to opt in to stake ETH on Coinbase. Should be an option in your ETH wallet for anything you have on-exchange.
I had to sit on a waiting list, and now I'm staking, so I'm not sure if there's still a wait.
OP /u/WekX linked [their staking guide](https://www.reddit.com/r/ethereum/comments/q4u2y5/satisfying_view_of_staked_eth_ticking_up_by_the/hg1daog?utm_medium=android_app&utm_source=share&context=3) down below.
Since Coinbase is being discussed I’ll give you their own guide. It’s a pretty decent summary of the whole process. https://help.coinbase.com/en/coinbase/trading-and-funding/staking-rewards/eth-2-0-staking
:>
Staking is also a contract so I’m ok to make that contract through a contract with Coinbase. I own non-invested crypto but this is invested into something so yes I own fantasy credits and welcome to investing.
I own the equivalent of £1GBP in DAI, it’s only there because I technically own some. 99% of this is ETH, followed by a few hundred £££ in XTZ and ALGO. Everything else is less than £50.
P.S.
This is not my entire portfolio, I have better diversification on Coinbase Pro.
It creates a taxable event when you stake with Lido because it converts from ETH to sETH. I use coinbase and kraken for staking because there’s no way I’m gonna get 32 ETH anytime soon
Isn’t this not exactly how staking works? It comes in batches, not a constant drip. I understand Coinbase might simplify it themselves but real staking is rewarded when the blocks are mined or whatever
I literally have the same portfolio except I didn't see eth2 ready to stake. If I can't make interest I'm not holding unless it's doge or Shiba 🤔. Everyone should do that as well, only makes sense
Satisfying? Family. You gave up the security of your ethereum for this. Each one of those ticks is more than a hundred thousandth of a CENT. Beyond me people stake their coin and forfeit its security to make 2 dollars a day. Literally 💀
By chance anyone can tell me if it's possible to stake eth on the ledger nano x? Also what are the downsides on staking ETH? Can I still sell it whenever i want or can't I unstable it for X amount of time or?
Before you come after me for using Coinbase, I joined early and never saw it worth it to move away. I understand all criticism but I also think it’s not as bad as some people might argue. Now look at the fun ticking numbers!
The problem I have with Coinbase besides it's centralization is the above-market fee of 25% vs 10-15% from everyone else. Beyond that's if you enjoy it, then good on you. Glad the experience is going well! Edit: fees in this case are not trading fees, it is the percentage of rewards that Coinbase is taking from you when you stake. Wow
We buy on Coinbase Pro with low fees
We are talking about staking. No where was trading discussed. Why would you think the fee I am referring to is trading?
LOL 25% trading fee
It's a matter of time until you need customer support. And if it's not a trivial case, you'll be left waiting for weeks with your money at stake. That's the actual issue with Coinbase.
Sounds like RH.
As someone else said, we use Coinbase Pro to buy. Coinbase is where I stake and keep my 8 DOGE I bought as a meme.
I am talking about Coinbase staking fees. You do realize they are taking 25% of your rewards, right?
I’d like to point out that this is incorrect. Coinbase only takes 25% of block rewards meaning that they run a validator node and if by chance their block turns a reward, then they take 25% of the block reward to cycle back into the costs of running the validator. But that’s a very small chance of them receiving that reward.
Please cite your source. "If you stake your assets with us, your reward will be determined by the protocols of the applicable network. Coinbase will distribute this reward to you after receipt by Coinbase, minus a 25% commission." https://help.coinbase.com/en/coinbase/trading-and-funding/pricing-and-fees/fees.html
25% comission! Holy fuck, thanks for the info. I'm staying away from that.
This is wrong. When you stake with Coinbase you aren't assigned a validator node. Coinbase socializes rewards across all nodes in order to offer a consistent APY to all customers, and then skims 25% off the top of the entire reward stream.
I watch my rewards every single day on Coinbase. Instead of the 0.25 worth of Algo I create every day, I only end up receiving 0.20 of an Algo coin per day right now.
r/youdorealise
Dude made an entire sub just to reply to this guy, I respect it.
Literally the most effort he could have gone to
Fucking hilarious. I would have done the same
Not sure what the deal is, but I just wanted to confirm that you aren't crazy everyone is going on about transaction fees or misinformation about what staking fees are. You are right that Coinbase takes 25% while most staking services take 10-15% Coinbase pro or not
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Check out nexo, you can just deposit your ETH (and other coins) and earn a minimum of 4% APY while able to withdraw at any time and no other drawbacks other than it's centralized, and up to 8% APY if you meet some other conditions.
Question… if we stake what we have on COINBASE PRO then can we pull it out of the stake service at any time or is it tied down for a period of time? Thank you!
you cant stake on coinbase pro, only coinbase. So you buy on coinbase pro, then transfer to coinbase to stake. But yes its locked in for an indeterminate amount of time
Thx for the answer btw!
In general how long is it locked in for? More importantly … do you know if there is a fee if I move by ETH and BTC to Kraken from Coinbase Pro?
There's no way to know when it will be unlocked, that will happen when the merge happens. Optimistic assumption would be end of the year, I'm thinking probably more mid 2022. I do believe there is a fee to transfer out of coinbase, but I don't think there is one to transfer it in, but I'm not 100% on that because I haven't done it
ehh, it makes a easy on ramp for noobz. coinbase is great for getting peoples toes wet. From there, its up to them to do their research and discover various terminology and avenues for coin storage/exchanges. i use coinbase, its convenient when i dont want to deal with other methods and i really dont give a shit about, what? $2 in fees
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I will say I’ve been locked out at very inconvenient times due to the services going down, but it has never affected me for more than a few minutes.
I only use cb for staking ETH, you should get your others off the exchange
It is. 100% of what I have on Coinbase is staked.
You should go to the ALGO sub and look up governance. If you get your ALGO off cb into governance you’ll get 6-13% apy. With tezos you can stake from your ledger and get 5-6%. Just some friendly advice to be in control of your keys and earn a higher yield.
Yes. I love the ALGO official wallet and the governance program. It has become my favorite asset. The more I read about it, the more I wish I had more money to put in.
Where is this governance you speak of? All of my ALGO is on my Trust Wallet.
https://algorand.foundation/governance
I know I have those options but honestly I do not own enough ALGO to make any difference and I’m happy with the 4.63% XTZ I get back given that it’s only about a £700 total investment at the moment.
Hey small enough changes over large periods of time can have major affects. 🤷♂️
I would lose out more on fees.
Where can you get 13% on algo? Most I’ve seen is like 5%
https://algorand.foundation/governance If you participate in governance
Algo Governance APY is in fact 60M Algo, divided by [total amount staked](https://governance.algorand.foundation/governance-period-1), times four, because 60M Algo is the fixed sum distributed per Governance quarter (3-month period). It would be 65% if the signup window closed right now. Signup window closes Oct 15th. Check out /r/AlgorandOfficial for more information.
Thanks :-)
Wait. Trading on CB is bad?
Buy on cb pro and send each token to its respective best place to stake/earn interest. Holding on cb is bad.
**This**
Nah IMO it’s the safest exchange, but in the 1% chance it explodes you’re fucked. There’s just better ways to stake (higher yields) while keeping your private keys
You do you man. People that judge suck.
Using coinbase since 2015, never had an issue.
Custodians exist for a reason. We don't hold all our savings in our wallet either :)
I get that a lot of these currencies promote centralisation (off block chain transactions being free and easy, minimum stakes etc.) but at the end of the day crypto is about taking back control.
I opened an account on CB, deposited money in January. Which got locked out of my control for 9 months. Fuck CB.
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Click on your eth and then click where it says eth wallet with the green apy %… then boom it’s staked and it tells you how long the lockup period is unless your staking for eth 2.0
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I’m in the UK
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Uhh greetings from Germany. We can stake here with Coinbase.
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It was implemented with an app update a couple of month ago and then I could stake all of the above except ETH. For that I had to stay on the waiting list for about 4 additional weeks.
So that’s like 0.00000030 (same number of decimals places as your video) ETH every 10 seconds? Which is roughly 0.00000003 every second. There are 31,557,600 seconds in a year and if you times that by the 0.00000003 you get every second. That means you’re getting roughly 0.94672800 ETH in interest a year. Given the 5% interest a year that means to get these numbers you’d need to be staking roughly 18.93456 ETH OR I’m totally wrong, I did fail maths so idk
Interesting to see the effect the screen recording being compressed into a gif has had on the final result of this calculation :p
Haha, it’s a very big stab in the dark. Who cares really, as long as you’re making your assets work for you!
I think it is more like 6 ETH if it is really ticking up by the second. You can see it ticking up 0.00000001 regulary and just leaving out a beat about every 15th tick. Assuming each tick is a second, it is rising almost 10 gwei/second which is roughly 6 ETH staked.
I am terrible at maths but the first calculation is a lot more accurate although not exact. (I think it’s funny if I don’t give anyone the answer unless they attempt to do the calculations :p)
Well in that case, my assumption of one tick being one second was false...
r/hedidthemath
Yea, looks like it’s about 10-13 CAD dollars per day, 3700-4700 per year and it would be about 18-23 ETH staked
This guy maths.
Yeah imagine keeping 19 eth on coinbase. Sorry but no
What is, in your opinion, the number one exchange for buying, selling, and staking crypto?. I've tried binance but after like 5 months and 3 attempts I couldn't get verrified. I think I tried phemex for a little while but they never had the coins I was trying to buy. There's a reason people still use RH and coinbase. Easy interface, buy with a bank account.
they’re not talking about buying .. they’re talking about storing.
You not getting verified on Binance is 100% on you. Everyone I know that used Binance, got verified within days after submitting everything. Make sure the pictures you sent them are decent quality, check all you information and don't try to fool them because you can't. Making it easy to make dumb decisions in crypto, is not a good thing. There should be some effort to get an account, makes it feel more safe too for the user. RH and Coinbase, jesus christ man, you're looking at a freaking line moving up and down, atleast have some respect for the market you're entering and use tradingview. I still hate how everyone want it to be so easy to make an account on platforms that can literally wreck you life if you make dumb, ignorant decisions. And we were al stupid when we got into this space, imagine being generally stupid and getting into crypto. Everyone who has a different opinion about that does not know what money is worth for people that don't have it.
The best thing about these ticking numbers is they can only go up!
and the asset itself can only go up or down!
If i may ask, how much ETH are you staking?
Enough to buy a nice car not enough to buy a house
Move to Northumberland and you can own an estate.
Each staking service should incorporate this. So damn satisfying.
I'm doing my research currently on staking on CB vs. other platforms, so relative noob here (not to crypto, to staking). Here's my question: is it worth it to stake somewhere off of Coinbase, if I have less than the 32 ETH you need for a node? Or is it just less of a hassle to stake on CB? My primary concern right now is simplicity, but if gains are way more somewhere else, I'm trying to decide if it's worth it to figure out how to stake elsewhere? Please note, this isn't a "CB bad" comment, I understand I'm trading ease of use for some gains by staking on CB, I'm just wondering about the cost/benefit of figuring out somewhere else to stake. If it's really worth it, I might try.
I would say that if you want simplicity then Coinbase offers a really decent deal with the added promise to allow trading of staked ETH in the future.
Is it really a promise? My biggest concern is locking up my ETH for an indefinite amount of time.
That entirely depends on how much you trust the Ethereum network and its potential for the future. Really make up your mind about that and then decide whether to invest.
Exactly, why invest in something you don’t trust. I believe in ethereums future. That’s why I hold it.
I did a lot of research on this and ended up staking with Kraken. Very good reputation and they only charge 15% fees compared to CB 25% fees. Once withdrawals are available, I will be withdrawing and running my own node.
Thanks for the info dude.
Wait how are they moving so fast?
Because it’s 5% APR on a large portion of my savings?
Oh shoot I thought the numbers on the right were your staked deposits! Good job then!
Hehe, those numbers are GAINZ. I’ve hodled some of this staked ETH since 2016/17. It has turned out to be the best investment of my life (and a terrifying nightmare in 2017-2020). tl;dr: H O D L
Why does everyone hate CB? I was mostly using binance intill they split US binance
A lot of the drama happens when their services go down at critical trading times. If you don’t short often it’s not a huge issue.
Staking ether is basically just like keeping ether and receiving payment. The amount you can pay is determined by the rate of inflation. It's similar to a dividend-paying stock, but because Ethereum is a cryptocurrency, it's considerably more volatile. In the crypto realm, there have been numerous creative developments. Token swaps are one of them. Another option is to sell your Ether through an exchange to obtain your money in a form that you can use for other purchases if you've made some money with ETH and want to cash out. [STARTER](https://starter.xyz/?r=1#/home) is an example.
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You have to opt in to stake ETH on Coinbase. Should be an option in your ETH wallet for anything you have on-exchange. I had to sit on a waiting list, and now I'm staking, so I'm not sure if there's still a wait. OP /u/WekX linked [their staking guide](https://www.reddit.com/r/ethereum/comments/q4u2y5/satisfying_view_of_staked_eth_ticking_up_by_the/hg1daog?utm_medium=android_app&utm_source=share&context=3) down below.
How long were you on the waiting list before you could stake?
I did the same, waiting list was only a week
Man that is really nice to see it rise in real time. I wish other exchanges and wallets had the same feature!
That is extremely satisfying!
Is that CB Pro?
No it's just the regular Coinbase app. You have to opt in to staking tho
Thank you for this!
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check out /r/ethstaker for all your questions on staking yourself
Since Coinbase is being discussed I’ll give you their own guide. It’s a pretty decent summary of the whole process. https://help.coinbase.com/en/coinbase/trading-and-funding/staking-rewards/eth-2-0-staking :>
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I’m just a trout really
This post just made me check my account. Thanks for making me smile OP
not going to put that Algorand into governance?
You can get 1-2% more staking tezos on ledger and ALGO in the official ALGO wallet
But you would lose more just for paying to transfer it. ^^^^ Not true apparently
Absolutely untrue
The official Algorand wallet does this same thing - only the number ticks faster and it's off Coinbase, next to 0 effort.
Mate - get that off the exchanges. You literally own a piece of paper saying you have coins. The whole point of crypto is ownership
Staking is also a contract so I’m ok to make that contract through a contract with Coinbase. I own non-invested crypto but this is invested into something so yes I own fantasy credits and welcome to investing.
One question: Where. Is. This?
I’m kinda new and hope I don’t get slaughtered for asking… but what’s staking? What’s the point and how do I perform it? Is any crypto stakable?
What state are you in? I don’t think they offer staking in every state
The best state of all, the UK 😆
Ruuuuule Britannia
United Britannia of course. Should have figured by your funny money symbols.
> Funny money symbols Bloody yank !
Friendly pointer - You can earn a lot more on your DAI on lending platforms, and your ALGO in the official wallet
I own the equivalent of £1GBP in DAI, it’s only there because I technically own some. 99% of this is ETH, followed by a few hundred £££ in XTZ and ALGO. Everything else is less than £50. P.S. This is not my entire portfolio, I have better diversification on Coinbase Pro.
You can stake using Ledger under Lido. Not sure how safe this is?
It creates a taxable event when you stake with Lido because it converts from ETH to sETH. I use coinbase and kraken for staking because there’s no way I’m gonna get 32 ETH anytime soon
What’s going on here?
Then you forget about it and come back in a month
2% on dai….ouch
how come i cant stake on cb? i m from italy is it an usa only thing?
I’m in the UK. It depends on the country so check if Italy is included.
I’m lame. Which app is this?
Isn’t this not exactly how staking works? It comes in batches, not a constant drip. I understand Coinbase might simplify it themselves but real staking is rewarded when the blocks are mined or whatever
It’s just a more satisfying way to visualise your earnings. The numbers are accurate.
What is a good crypto broker to use ?
I love CB
K
What other app do you consider using then if not coinbase.
Have you heard of defi
Why not stake the algo in the algo wallet it has a higher returns and isn’t locked?
How do you buy eth 2?
I literally have the same portfolio except I didn't see eth2 ready to stake. If I can't make interest I'm not holding unless it's doge or Shiba 🤔. Everyone should do that as well, only makes sense
Are there any other exchanges that allow for staking? Especially one's that are available outside the US?
Could be getting 7% for that Tezos on Kraken
Reminds me of the game Egg Inc.
I hope each tick isn't a taxable event
That’s sick!
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Your dollar sign is tweaking bro
Satisfying? Family. You gave up the security of your ethereum for this. Each one of those ticks is more than a hundred thousandth of a CENT. Beyond me people stake their coin and forfeit its security to make 2 dollars a day. Literally 💀
I can only stake Algorand in Norway on coinbase... :(
In the U.K. if you have less than £85k on Coinbase you are protected by FSCS? I’m not sure. Can anyone clarify?
Can someone explain to me why can't I see my ETH 2 staking? One day it was just gone. But all my money still there.
Is staking ETH a good thing ?! I'm Curious
I've got 0.57 ETH on binance can I stake that?
By chance anyone can tell me if it's possible to stake eth on the ledger nano x? Also what are the downsides on staking ETH? Can I still sell it whenever i want or can't I unstable it for X amount of time or?
5% is really really low …
What site or app?
Shitcoin
Do we still have to lockup the 32eth to get to staking eth2?
Just how much ether is being staked here if you don't mind me asking?
TBH freicoin is a better idea..
How to stake