I currently have a couple ETH on Coinbase. Would like to move them off and enter the world of staking as I have no desire to ever sell them. Any suggestions for my non tech savvy “ friend” ? I have read many posts here and haven’t had any luck finding a place where I meet the minimum ETH needed to stake there. Thanks for insights. I maybe better off just keeping it at CB and getting 3.26% APY but I feel like I’m getting taken advantage of AND possibly at risk since the coins reside there and not w me.
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Non tech savvy persons would probably be served best by just staking on Coinbase.
the popular answer to this question on reddit always seems to be rocketpool, but honestly, I have serious doubts about the longterm survival of that project, given I happen to know for a fact at least 1 of the lead devs has a history of fraud.
I would recommend you look into block scape, as a non custodial solution with market leading yield, which also makes earning yield on ETH + other assets very easy.
Please report Exciting-Career-2782
I called out their scam link to ‘Block Scape’ below, they deleted the comment, blocked me, then reposted it and used bots to upvote it again.
Do not click their link.
Please report Exciting-Career-2782
I called out their scam link to ‘Block Scape’ below, they deleted the comment, blocked me, then reposted it and used bots to upvote it again.
Do not click their link.
Honest answer?
Don’t stake it. I’m not sure why you’ve purchased an asset you never plan on selling, but either way, staking a couple eth is not going to earn you very much money in passive income, assuming that’s your goal, because you never plan on selling. At the current return of 4.69 you’re only earning less than 0.1 eth *per year*. Yay you earned $200 at current value, money that could have easily been made on a couple of trades.
You are not better off on a centralized exchange. If it were me, I’d put it in a hardware wallet and forget about it for a few years. I’d only stake ETH if I had enough to run a node. I wouldnt use lido, I wouldn’t use coinbase or any other centralized entity.
Use loopring layer 2 with social recovery to stake in cian leveraged. It pays 10% and it’s non custodial decentralized with security. No middle man !
Read this as “stalking” options and was like wtf, this is what we’ve come to!?
the popular answer to this question on reddit always seems to be rocketpool, but honestly, I have serious doubts about the longterm survival of that project, given I happen to know for a fact at least 1 of the lead devs has a history of fraud.
I would recommend you look into block scape, as a non custodial solution with market leading yield, which also makes earning yield on ETH + other assets very easy.
Pretty sure this is a scam.
‘Block Scape’ are not mentioned anywhere in the Ethereum.org’s recommended staking services:
https://ethereum.org/en/staking/pools/
https://ethereum.org/en/staking/saas/
Which makes it very suspicious that they have got 20 upvotes in just a few minutes…
And why you got so many downvotes
It will depend on how much Ether you own.
32 = go to Allnodes. Less than that = consider Rocketpool.
In any case you’ll need a minimum of knowledge of what your doing to avoid making mistakes.
How does a pull run work with staking companies? Just basically a rug pull or is it all of the stakers moving to a different pool
When you stake on pools like Rocketpool your ETHs are swapped for rETH. In the case the pool has a problem and people need to swap their ETH back, it will depend on the pool’s liquidity to fulfill all the orders. If there are not enough ETH (and there won’t be enough for that specific moment) to satisfy the demand, the rETH will be worth less than a used pamper.
Understand how APY works. For a quick and dirty its
Lot size * (APY in decimal format) / 365 = Daily earnings
People who tell you ‘oh you can make that in a few trades’ or you could lose that ‘in a few trades.’
You have options; each requires knowledge for each option. You probably won’t obtain that knowledge if you try to do without knowing the first time. You’ll obtain a lot of stress. Work with the wrong contract, or dapp and poof! Magic its gone.
If your friend can’t figure out reddit to make this post, maybe they should gain basic technology literacy skills before entering the world of defi. The basis of which is creating, and storing strong unique passwords properly. Can’t do that, then you won’t know what to do with your seed phrases and you could leave it laying around, backed up to your documents folder on your windows pc that is already compromised from all of the ‘free remote tech support’ you are recieving each time your computer acts up (and its basically twice a month, every month)
-Speaking for a friend.
You could also just stake them on Coinbase?
the popular answer to this question on reddit always seems to be rocketpool, but honestly, I have serious doubts about the longterm survival of that project, given I happen to know for a fact at least 1 of the lead devs has a history of fraud.
I would recommend you look into block scape, as a non custodial solution with market leading yield, which also makes earning yield on ETH + other assets very easy.
Check out the crypto.com defi app. They take a 15% commission compared to coin bases 25%( could be wrong on percentage). Plus the added benefit of holding your eth in your own wallet. Though it is a hot wallet.
the popular answer to this question on reddit always seems to be rocketpool, but honestly, I have serious doubts about the longterm survival of that project, given I happen to know for a fact at least 1 of the lead devs has a history of fraud.
I would recommend you look into block scape, as a non custodial solution with market leading yield, which also makes earning yield on ETH + other assets very easy.
If you’re not tech savvy, do you think you should be in charge of manually securing your own cryptocurrency? I would stake on coinbase, and let them handle the security.