I’m thinking about using a staking service, but coinbase is so easy and I trust it more than most other companies. if I do use a service, which one do people recommend?
I’d stick with Coinbase mate.
It’s reliable
Check TrustWallet or Exodus.
I think if you trust it that’s what you should use. Don’t sacrifice trust for incremental bps. You’re dealing with money here.
Lido has too much market share and is bad for ethereum if it continues. You can hold rETH if you don’t want to run hardware or mint the new osETH from stakewise v3. Both of these options are decentralized and permissionless and have under 22% marketshare so they don’t harm the network. You can still leave it in coinbase and it’s not the worst option. There is also nothing wrong with just holding eth without staking it.
If you have ETH, the easiest way to stake it is onchain directly.
It may seem counter-intuitive but I think it’s actually easier to do it than in a Centralized Exchange.
Just buy rETH on any DEX on you’re good. If you don’t know what I’m talking about, check RocketPool.
In a nutshell, RocketPool is like staking. Your ETH are locked in a Pool (a smart contract) that is used by Ethereum Validators who receive an extra fee for doing that. On your side:
- You have better guarantees over your funds (we can debate this point but I prefer to trust an audited and well-known smart contract protocol than a Centralized Exchange, no matter how good and well-established is its reputation)
- You don’t have to stake yourself: being a Validator is risky and requires some good technical skills to maintain it in the long run. In RocketPool, the Ethereum Validators that participate in it are doing this job for you: they stake your ETH.
- It’s flexible: I don’t know about Coinbase but with RocketPool, since you just swap your ETH for rETH (just keep in mind to keep some ETH on your wallet), you can exit whenever you want, with no delay. Just swap your rETH for any other token or ETH.
Look into Kiln
I would run as fast as you can from Coinbase. They will steal your money if they have even the slightest reason to. For example a hacker hacks your account drains your real bank account through Coinbase converts it to BTC and sends it to their own wallet. You call your bank and stop the bank transfer. But coinbase holds you responsible and takes your staked ETH, bye bye ETH.
BloxStaking - easy to set up, zero fees, keep your own keys, honestly a no brainer.
I’ve had a few nodes running for 2+ years and zero issues.
I can make over 4% apy with a savings account lmao
Have you checked out Stakewise (V3)? https://stakewise.io/?v3
The new v3 is really something else.
Yes you are missing out on a lot.
Yo, why does your link point to a misspelled site, U/YouYeehdYourLastHah ??
Be careful out there!
Fair warning - you shouldn’t be following random links on Reddit at all anyway, but this fuckwad is phishing and his response has been upvoted by bots to make it seem legitimate.
also report Beancolors, he was involved.
I have done my bit by reporting, you guys should too
You can stake on coinbase
Bro sell for bitcoin. Promise. The eth/alt wave is going to get swallowed up by fin-tech solutions on the dollar. Bitcoin is the only novel technological innovation in crypto - digital scarcity. Unless you’re very short/intermediate term. Bitcoin is like buying an apartment in Manhattan 50 years ago. Eth is like Detroit… still some chance to ride some upside with the general waves/inflation, but why have such a significant sum in an inferior product?
Stake.fish has been good.